The story of this market
The typical home in ZIP 47340 sells for about $183,462, or $174 per square foot.
Prices are roughly flat from a year ago (0%), a market in balance. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $876 a month.
ZIP 47340 — Farmland
The housing market in 47340 is a low-cost, low-yield environment that requires careful management by investors. With a median home value of $183,462 and limited appreciation, the area is better suited for long-term holders than those seeking rapid growth.
This ZIP is best suited for experienced operators or local buyers who can manage the specific risks associated with a low-price, low-yield market.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 87 days on market with 5.2 months of supply — a balanced-paced market.
25% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.7% · poverty 12.7% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47340, Randolph County, Indiana
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
The rental market in 47340 is characterized by a low-cost basis with a median rent of $900, though it does not meet the 1% rule for investors.
Data retrieved from census.gov ZCTA profiles for 47340.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.