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These days, finding an affordable place to live in the 47040 area can be challenging. Home prices in 47040 are now at a median cost of $226,198, lower than the Indiana average of $232,932.
The average cost of rent is $998/mo in 47040, primarily driven by the current value of real estate in the 47040 area. In 47040, 18.79% of households rent, and 40.66% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 47040 is $5,796 per month. Households that rent pay about 17.22% of their income on rent here. 47040’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern 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
- 47038, IN: less expensive homes
- 41080, KY: higher priced homes
- 47020, IN: less expensive homes
- 47001, IN: equally priced homes
- 47011, IN: equally priced homes
- 41005, KY: higher priced homes
- 47018, IN: less expensive homes
- 41091, KY: higher priced homes
- 41042, KY: equally priced homes
- 47032, IN: higher priced homes
Zip Codes with Similar Populations
- 71837, AR: less expensive homes
- 35186, AL: higher priced homes
- 35490, AL: equally priced homes
- 35581, AL: less expensive homes
- 36251, AL: less expensive homes
- 36576, AL: equally priced homes
- 70344, LA: less expensive homes
- 71254, LA: less expensive homes
- 71665, AR: less expensive homes
- 35046, AL: less expensive homes
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