The story of this market
The typical home in ZIP 47243 sells for about $245,000, or $158 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 62 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $908 a month.
ZIP 47243 — Hanover
The Hanover housing market is experiencing steady demand driven by its affordability and proximity to regional employment centers. While inventory remains tight, price growth has moderated compared to previous years, reflecting a balanced market environment. Local economic stability, anchored by the college and nearby manufacturing, continues to support consistent home values.
This ZIP is well-suited for families and retirees seeking a quiet, small-town atmosphere with access to higher education and riverfront recreation.
Median prices moved up 2.4% year over year.
Homes spend a median of 62 days on market with 6.0 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.6% · poverty 10.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 47243, 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.
Crime rates in Hanover are generally lower than the national average, with property crime being the most frequently reported incident type.
The area is served by the Southwestern Jefferson County Consolidated School Corporation, which maintains a stable academic reputation within the region.
The region faces moderate risk from severe thunderstorms and occasional flooding near the Ohio River basin, with standard insurance coverage typically available.
Economic momentum is driven by proximity to Madison's industrial base and the presence of Hanover College, which serves as a significant local anchor.
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.
Commuting is primarily car-dependent, with residents typically driving to Madison or other regional employment hubs via State Road 56.
The area features access to the Ohio River for boating, proximity to Clifty Falls State Park, and local community parks within the town center.
The rental market is characterized by low vacancy rates due to demand from college students and local workforce, with modest annual rent growth.
The local economy is anchored by Hanover College and supported by manufacturing and service industries in the neighboring city of Madison.
Transportation is almost exclusively via private vehicle, with State Road 56 serving as the primary artery connecting the area to regional highways.
Development is focused on small-scale residential infill and maintenance of existing infrastructure rather than large-scale commercial expansion.
The Jefferson County Assessor manages property valuations based on annual market adjustments and cyclical physical inspections.
Parcels are subject to standard county and municipal tax levies, with no major MUD or PID districts reported.
Property insurance remains stable, though premiums are influenced by regional exposure to wind and storm damage common in the Ohio Valley.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Bluegrass Spring4.116.5 mi
- Charlestown Family Activities Park4.617.9 mi
- Kangaroos4.49.2 mi
- Emerge Escape Rooms LaGrange518.1 mi
- Stream Cliff Farm, Restaurant & Winery4.716.6 mi
- Clifty Falls State Park4.77.8 mi
- Hanging Rock4.57.5 mi
- Lanthier Winery4.86.8 mi
- Lanier Mansion State Historic Site4.86.9 mi
- Thomas Family Winery4.47.1 mi
- Lanthier Winery4.86.8 mi
- Lanier Mansion State Historic Site4.86.9 mi
- La Grange Railroad Museum & Learning Center4.818.1 mi
- Broadway Fountain4.77.1 mi
- Butler-Turpin State Historic House4.416.4 mi
- Clifty Falls State Park4.77.8 mi
- Bicentennial Park4.66.9 mi
- Clifty Falls State Park North Gate4.87.8 mi
- Hones Pointe Campground and park4.813 mi
- Broadway Fountain4.77.1 mi
- DG Market3.87.1 mi
- Madison Trading Post4.28.8 mi
- Hanover Flea Market4.33.9 mi
- Dollar General3.53.8 mi
- River Pointe Center4.29.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A private liberal arts college that serves as a major cultural and economic anchor.
Provides recreational opportunities including boating and fishing.
Located nearby, offering extensive hiking trails and scenic waterfalls.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.