The story of this market
The typical home in ZIP 47359 sells for about $145,000, or $98 per square foot.
Prices are up +3.5% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $649 a month.
ZIP 47359 — Montpelier
The housing market in 47359 remains stable with modest price appreciation driven by low inventory and consistent demand for affordable single-family homes. Sales volume is low, reflecting the rural nature of the area, while the market maintains a balanced pace between buyers and sellers.
This ZIP is well-suited for families and individuals seeking affordable, quiet, small-town living with a lower cost of living compared to larger metropolitan areas.
Median prices moved up 3.5% year over year.
Homes spend a median of 42 days on market with 3.6 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.1% · poverty 10.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 47359, Jay County, IN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in this rural area are generally low and stable, consistent with regional trends for small-town Indiana.
Schools serving this area are part of local consolidated districts, generally characterized by small class sizes and moderate academic performance.
The area faces standard Midwestern risks including seasonal severe thunderstorms and occasional high winds, with localized flood risks near regional waterways.
Economic momentum is modest, driven primarily by local agriculture, small-scale manufacturing, and proximity to regional employment hubs.
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.
Residents typically rely on personal vehicles for commutes, with travel times to regional employment centers ranging from 30 to 45 minutes.
Local recreation includes access to small community parks, nearby state-managed natural areas for hiking, and local community centers.
The rental market is limited in depth, characterized by low turnover and a high share of single-family homes managed by individual landlords.
The local economy is anchored by agricultural operations and small-scale manufacturing, with many residents commuting to nearby cities for service and industrial jobs.
Transportation is almost exclusively car-dependent, with no public transit infrastructure serving the area.
Development is limited to small-scale residential infill and minor commercial improvements.
The county assessor maintains property values based on annual market analysis and state-mandated assessment cycles.
Parcels are subject to standard county and school district tax levies, with no significant MUD or PID presence.
Property insurance remains stable, though premiums are influenced by regional exposure to severe weather events.
Net domestic migration is stable with a slight trend toward long-term residents remaining in the area.
Indiana is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a standard residential real estate disclosure form detailing the condition of the property.
Data retrieved from data.census.gov using ZCTA 47359 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides basic recreational facilities and green space for residents.
Offers walking and biking paths connecting local neighborhoods.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.