The story of this market
The typical home in ZIP 47371 sells for about $144,000, or $105 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 47 days to sell. HUD's fair market rent for a two-bedroom is $754 a month.
ZIP 47371 — Portland
The 47371 housing market is currently experiencing a period of price stabilization following years of steady growth. While inventory remains tight, the market is characterized by moderate days on market and a lack of significant speculative development, reflecting a cautious outlook among local buyers and investors.
This ZIP is best suited for local families and budget-conscious buyers seeking affordable housing in a quiet, rural-adjacent community.
Median prices moved down 2.1% year over year.
Homes spend a median of 47 days on market with 4.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 12.9% — 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 6.0%/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 5.4%/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 47371, 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 Portland are generally low and consistent with rural Indiana trends, though property crime remains the primary concern for local law enforcement.
Schools in the Jay School Corporation serve the area with moderate performance ratings, focusing on vocational and foundational academic programs.
The area faces standard Midwestern risks including severe thunderstorms and occasional flooding in low-lying areas near the Salamonie River.
Economic momentum is driven by local manufacturing and agricultural support industries, with limited large-scale commercial development currently underway.
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 traveling via state highways to regional employment hubs in Muncie or Fort Wayne.
Local amenities include the Jay County Fairgrounds, various city parks, and proximity to outdoor recreational areas like the Limberlost State Historic Site.
The rental market is characterized by high demand for affordable housing, with limited new inventory and a stable base of long-term tenants.
The economy is anchored by manufacturing, agriculture, and local government services, providing a stable but slow-growth employment base.
Transportation is dominated by private vehicle use, with no significant public transit infrastructure serving the area.
Development is focused on small-scale residential infill and maintenance of existing municipal infrastructure.
The Jay County Assessor manages property valuations, utilizing annual adjustments to reflect market trends.
Parcels are subject to Jay School Corporation levies and local municipal tax districts.
Property insurance premiums are generally stable, reflecting the area's low exposure to catastrophic natural disasters.
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.
- Pine Lake Waterpark4.717.1 mi
- Portland Waterpark4.51.9 mi
- Eldora Speedway4.819.2 mi
- Muncie Dragway4.818.2 mi
- Winchester Speedway4.816 mi
- Montpelier Motor Speedway4.618.7 mi
- Jay County Fairgrounds4.42.7 mi
- Limberlost State Historic Site4.712.9 mi
- Ambassador Park4.610.5 mi
- Hudson Family Park4.71.7 mi
- Miracle Lanes4.610.6 mi
- Loblolly Marsh Nature Preserve4.810.9 mi
- Official Randolph County Asylum/Infirmary4.718.4 mi
- Fort Recovery State Museum4.710.6 mi
- Limberlost State Historic Site4.712.9 mi
- Ambassador Park4.610.5 mi
- Hudson Family Park4.71.7 mi
- Loblolly Marsh Nature Preserve4.810.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Hosts major regional events and the annual county fair.
Provides walking trails and community green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.