The story of this market
The typical home in ZIP 47341 sells for about $231,000, or $115 per square foot.
Prices are up +2.1% 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 $673 a month.
ZIP 47341 — Fountain City
The Fountain City housing market is characterized by steady, modest growth and high owner-occupancy rates. While price appreciation has slowed compared to the 2021 peak, the market remains stable due to limited inventory and consistent demand for affordable rural housing. Investors should note that while entry prices are low, the market requires careful underwriting due to lower rent ceilings and limited turnover.
This ZIP is best suited for families and individuals seeking affordable, quiet, small-town living with easy access to the amenities of larger nearby cities.
Median prices moved up 2.1% year over year.
Homes spend a median of 62 days on market with 4.5 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 2.5% · poverty 6.9% — 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 8.1%/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 5.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47341, Wayne 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 Fountain City remain low and stable, generally tracking below the broader Wayne County and Indiana state averages for property-related incidents.
Schools serving the area are primarily managed by the Wayne County school system, generally characterized as providing stable, community-focused educational environments with moderate performance ratings.
The area faces standard Midwestern climate risks, primarily related to seasonal severe thunderstorms and occasional high winds, with low exposure to major flood zones.
Economic momentum is modest, driven by local agricultural support, small-scale manufacturing, and proximity to the Richmond employment hub.
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.
Residents primarily commute by car to Richmond, Indiana, which serves as the regional employment and commercial core, typically via US-27.
Local recreation is centered on small community parks and proximity to rural outdoor spaces, with major shopping and dining amenities located in nearby Richmond.
The rental market is characterized by limited inventory and steady demand, with rents remaining affordable relative to regional urban centers.
The local economy is anchored by agricultural production and small-scale manufacturing, with significant reliance on the broader Richmond, Indiana labor market.
Transportation is almost exclusively automobile-dependent, with US-27 serving as the primary arterial corridor for regional access.
There are no major large-scale commercial or residential developments currently approved or under construction within the ZIP code.
The Wayne County Assessor manages property valuations, utilizing a mass appraisal system based on market sales and property characteristics.
Parcels are subject to standard county, township, and school district levies, with no significant MUD or PID special districts reported.
Property insurance premiums are generally stable, reflecting the area's low-risk profile for natural disasters compared to coastal or high-wildfire regions.
Data retrieved from US Census Bureau ACS 5-year estimates for ZCTA 47341.
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.
Local community park providing green space and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.