The story of this market
The typical home in ZIP 47375 sells for about $219,900, or $115 per square foot.
Prices are up +14.77% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $737 a month.
ZIP 47375 — Richmond
The housing market in 47375 shows steady growth with a median price of $219,900, reflecting a 14.77% year-over-year increase. Low inventory levels and consistent demand from suburban buyers are driving price appreciation, despite a moderate pace of sales.
This ZIP is well-suited for families and those seeking a suburban lifestyle with more space and higher median incomes compared to the dense urban core of Richmond.
Median prices moved up 14.8% year over year.
Homes spend a median of 45 days on market with 4.2 months of supply — a fast-moving market.
15% 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 3.8% · 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 5.6%/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 3.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47375, Wayne County IN
The area is served by local districts that provide standard public education, though specific ratings vary by individual school performance.
The area benefits from its proximity to Richmond, which serves as the regional economic and cultural hub for Wayne County.
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 rely on personal vehicles for commuting, with access to regional road networks connecting to the Richmond employment core.
The area features access to local parks and rural recreational spaces, with proximity to the shopping and dining amenities located in nearby Richmond.
The rental market is characterized by moderate demand, with a mix of single-family homes and some multi-family units serving the suburban population.
The economy is anchored by the city of Richmond, which serves as a regional hub for manufacturing, healthcare, and retail services.
The area is served by regional highway corridors, with limited public transit options outside of the immediate Richmond city center.
Development is primarily focused on suburban residential expansion and maintenance of existing infrastructure.
The Wayne County Assessor manages property valuations for tax purposes across the county.
Parcels are subject to local school district taxes and county-wide municipal levies.
Standard property insurance coverage is available, with premiums influenced by regional weather patterns and local hazard assessments.
Data retrieved from Census Reporter for Jackson Township/ZCTA 47375.
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.
Provides various green spaces and recreational facilities serving the broader area.
The primary commercial and cultural hub for the region.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.