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These days, finding an affordable place to live in the 47031 area can be challenging. Home prices in 47031 are now at a median cost of $212,072, lower than the Indiana average of $232,932.
The average cost of rent is $965/mo in 47031, primarily driven by the current value of real estate in the 47031 area. In 47031, 19.45% of households rent, and 36.63% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 47031 is $6,153 per month. Households that rent pay about 15.68% of their income on rent here. 47031’s most expensive areas are in the northeastern regions, while the cheapest areas are in the western parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 47032, IN: higher priced homes
- 47041, IN: higher priced homes
- 47037, IN: less expensive homes
- 47018, IN: equally priced homes
- 47042, IN: equally priced homes
- 47001, IN: equally priced homes
- 47034, IN: higher priced homes
- 47022, IN: higher priced homes
- 47006, IN: higher priced homes
- 47023, IN: higher priced homes
Zip Codes with Similar Populations
- 70819, LA: less expensive homes
- 32431, FL: less expensive homes
- 33493, FL: less expensive homes
- 33538, FL: less expensive homes
- 33576, FL: higher priced homes
- 33876, FL: equally priced homes
- 35034, AL: less expensive homes
- 35116, AL: higher priced homes
- 35470, AL: less expensive homes
- 32058, FL: less expensive homes
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