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These days, finding an affordable place to live in the 47240 area can be challenging. Home prices in 47240 are now at a median cost of $163,624, lower than the Indiana average of $175,617.
The average cost of rent is $855/mo in 47240, primarily driven by the current value of real estate in the 47240 area. While nearly 32.69% of residents own their homes outright in 47240, 30.16% rent.
Housing affordability isn’t just about home prices, though. The average household income in 47240 is $5,516 per month. Households that rent pay about 15.50% of their income on rent here. 47240's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the zip.
Nearby Zip Codes
- 47263, IN: higher priced homes
- 47272, IN: less expensive homes
- 46156, IN: less expensive homes
- 47034, IN: less expensive homes
- 46182, IN: less expensive homes
- 47036, IN: higher priced homes
- 47244, IN: higher priced homes
- 47006, IN: higher priced homes
- 47246, IN: less expensive homes
- 47234, IN: less expensive homes
Zip Codes with Similar Populations
- 80207, CO: higher priced homes
- 28461, NC: higher priced homes
- 32025, FL: equally priced homes
- 33486, FL: higher priced homes
- 37412, TN: equally priced homes
- 48327, MI: higher priced homes
- 60490, IL: higher priced homes
- 76135, TX: higher priced homes
- 79119, TX: higher priced homes
- 03833, NH: higher priced homes
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