The story of this market
The typical home in ZIP 47370 sells for about $165,000, or $98 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $930 a month.
ZIP 47370 — Pershing
The housing market in 47370 remains stable with modest price appreciation and low inventory levels. Market activity is driven by local demand and limited new construction, resulting in a balanced environment for buyers and sellers.
This area is best suited for families and individuals seeking an affordable, quiet, small-town lifestyle with a low cost of living.
Median prices moved up 2.4% year over year.
Homes spend a median of 42 days on market with 3.2 months of supply — a fast-moving 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 7.7% · poverty 8.4% — 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 7.4%/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 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 47370, Jay 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 the Portland area are generally low and consistent with rural Indiana trends, with property crime being the primary concern.
Schools are served by the Jay School Corporation, which provides standard public education services for the county.
The area is primarily at risk for severe thunderstorms and occasional flooding in low-lying areas near the Salamonie River.
Economic momentum is driven by local manufacturing and agricultural sectors, with steady but modest development in the county seat.
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.
Commutes are primarily car-dependent, with residents traveling to local employment hubs in Portland or commuting to larger regional centers like Muncie.
The area features local parks, the Jay County Fairgrounds, and proximity to rural outdoor activities, with basic shopping and dining located in downtown Portland.
The rental market is characterized by low turnover and limited inventory, with demand primarily driven by local workforce needs.
The economy is anchored by manufacturing, agriculture, and local government services, with a focus on maintaining a stable industrial base.
Transportation is almost exclusively via private vehicle, with SR 67 and SR 26 serving as the primary regional corridors.
Development is focused on small-scale commercial infill and residential maintenance within the city limits of Portland.
The Jay County Assessor manages property valuations, adhering to Indiana's cyclical reassessment schedule.
Parcels are subject to Jay School Corporation taxes and standard county-level service districts.
Property insurance premiums are generally stable, though coverage for wind and hail damage is a standard consideration in the region.
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.
Hosts major community events and the annual county fair.
Seasonal public aquatic facility serving the community.
Features walking trails and recreational space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.