The story of this market
The typical home in ZIP 47387 sells for about $185,000, or $112 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,708 a month.
ZIP 47387 — Straughn
The housing market in 47387 remains stable with low inventory and modest price appreciation. Activity is driven by local demand for affordable single-family homes, though the limited supply keeps sales volume low. Market conditions are expected to remain consistent with broader rural Indiana trends.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with affordable housing costs and a slower pace of life compared to nearby urban centers.
Median prices moved up 2.4% year over year.
Homes spend a median of 68 days on market with 4.2 months of supply — a balanced-paced 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 0.0% · poverty 4.8% — 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 7.7%/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 7.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47387, Henry 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 Straughn area are generally low, consistent with rural Henry County trends, and remain significantly below state and national averages.
The area is served by the South Henry School Corporation, which maintains a small-town educational environment with generally stable performance metrics.
The region is primarily at risk for severe thunderstorms and occasional high winds, with standard flood risks associated with local drainage basins.
Economic momentum is modest, driven largely by agricultural interests and proximity to regional manufacturing hubs in New Castle and Richmond.
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 typically driving to New Castle, Richmond, or the Indianapolis metro area via US-40.
Recreation is centered on rural outdoor activities, with local parks and small-town community facilities providing the primary amenity base.
The rental market is limited in depth, consisting mostly of single-family homes with low turnover and minimal institutional investor presence.
The local economy is anchored by agriculture and small-scale manufacturing, with many residents commuting to larger employers in Henry and Wayne counties.
Transportation is entirely road-based, relying on US-40 as the primary corridor for regional access.
There are no major large-scale commercial or residential developments currently approved or under construction in this rural ZIP.
The Henry County Assessor manages property valuations using a mass appraisal system based on annual market adjustments.
Parcels are subject to South Henry School Corporation taxes and local township fire and library district levies.
Property insurance premiums are stable, reflecting the low-density rural environment and lack of significant coastal or wildfire exposure.
Indiana is a judicial foreclosure state requiring court action to initiate the process.
Sellers are required to provide a standard residential real estate disclosure form covering known material defects.
Data retrieved from data.census.gov ZCTA 47387 profile.
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 space for outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.