The story of this market
The typical home in ZIP 46117 sells for about $350,000, or $130 per square foot.
Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,250 a month.
ZIP 46117 — Charlottesville
The housing market in 46117 is extremely low-volume with very limited active inventory, resulting in a stable but stagnant price environment. Market activity is driven by rural residential demand rather than high-density development, with few sales occurring in any given month.
This area is primarily suited for rural-lifestyle seekers and those looking for larger acreage properties, as the market is characterized by low inventory and limited residential density.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 68 days on market with 4.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 3.2% — a stable, low-distress profile.
ZCTA 46117, Indiana
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 local economy is primarily rural with limited major industrial or corporate anchors within the immediate ZIP code.
Data retrieved from ZCTA 46117 census profiles and local market reports.
Key-figure check: median price diverges 50.1% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $174,500 (-50.1% vs the prior refresh cycle) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.