The story of this market
The typical home in ZIP 47374 sells for about $190,741, or $89 per square foot.
Prices are up +1.47% from a year ago, so sellers still have some momentum. Homes take about 75 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $820 a month.
ZIP 47374 — Richmond
The Richmond housing market is experiencing moderate price growth with a year-over-year increase of 1.47%. While monthly sales volume can be volatile due to the smaller market size, the area remains a stable hub for East Central Indiana.
The area is suited for a mix of working-class residents and families, characterized by a dense urban core and a diverse housing stock ranging from historic bungalows to suburban-style homes.
Median prices moved up 1.5% year over year.
Homes spend a median of 75 days on market with 0.0 months of supply — a balanced-paced market.
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 6.0% · poverty 22.0% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47374, 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.
Richmond serves as an industrial and metropolitan hub for East Central Indiana, with ongoing efforts to adapt its historic infrastructure to modern economic needs.
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 local economy is anchored by manufacturing and serves as a regional hub for East Central Indiana.
Data sourced from US Census Bureau ZCTA profiles.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.