The story of this market
The typical home in ZIP 47224 sells for about $346,811.
Prices are roughly flat from a year ago (0%), a market in balance. HUD's fair market rent for a two-bedroom is $1,051 a month.
ZIP 47224 — Canaan
The 47224 ZIP code in Madison, Indiana, is a small, localized market with a population of 396 that has experienced economic pressure over the last decade. With a median home value of $346,811 and median rent of $864, the area presents significant risks for outside investors. Market indicators suggest that this ZIP trails neighboring submarkets in Jefferson County, necessitating careful underwriting.
This ZIP is primarily suited for experienced local operators who possess deep knowledge of the area's specific risks and market dynamics.
Median prices moved sideways 0.0% year over year.
Awaiting this reading — not graded.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 38.2% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47224, Jefferson 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.
The area has faced economic pressure over the last decade, with limited growth momentum.
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 market exhibits rent delinquency patterns that require careful underwriting for investors.
The local economy is characterized by limited growth and has faced economic pressure over the last decade.
Data sourced from Repit 2026 market report for ZIP 47224.
- Kangaroos4.411.1 mi
- Swiss Wine Festival4.513.3 mi
- Clifty Falls State Park4.713 mi
- Hanging Rock4.512.2 mi
- Big Oaks National Wildlife Refuge4.510.1 mi
- Lanthier Winery4.812.8 mi
- Lanier Mansion State Historic Site4.812.7 mi
- Lanthier Winery4.812.8 mi
- Lanier Mansion State Historic Site4.812.7 mi
- Broadway Fountain4.712.5 mi
- Butler-Turpin State Historic House4.415.2 mi
- Clifty Falls State Park4.713 mi
- Big Oaks National Wildlife Refuge4.510.1 mi
- Bicentennial Park4.612.7 mi
- Clifty Falls State Park North Gate4.813 mi
- Broadway Fountain4.712.5 mi
- Smugglers Cove Marina & Campground4.518.3 mi
- Friendship Flea Market4.58.1 mi
- DG Market3.812.5 mi
- Madison Trading Post4.211.3 mi
- River Pointe Center4.210.2 mi
- Jefferson Plaza4.111.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.