The story of this market
The typical home in ZIP 46156 sells for about $236,000, or $135 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 92 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $823 a month.
ZIP 46156 — Milroy
The housing market in 46156 is characterized by low inventory and slow turnover, reflecting its rural nature. Prices have seen modest growth, but the market remains sensitive to broader economic conditions in Rush County.
This ZIP is best suited for budget-conscious family buyers and those seeking a quiet, rural lifestyle who are comfortable with a longer commute to major employment centers.
Median prices moved up 2.4% year over year.
Homes spend a median of 92 days on market with 4.2 months of supply — a balanced-paced market.
15% 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 2.1% · poverty 5.2% — 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 8.3%/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 7.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 46156, Rush 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 Milroy area are generally lower than the national average, reflecting the quiet, rural nature of Rush County.
Schools serving the area are primarily part of the Rush County Schools district, which provides standard rural educational services.
The area is subject to typical Midwestern weather patterns, including occasional severe thunderstorms and wind events; flood risk is localized to specific low-lying areas near regional creeks.
Economic momentum is modest, driven largely by regional agricultural and manufacturing sectors in the surrounding Rush County area.
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 typically requires personal vehicle travel, with residents often driving to larger employment hubs like Rushville or Indianapolis.
Local recreation is centered on rural outdoor activities, with limited immediate access to large-scale shopping or entertainment within a 3-mile radius.
The rental market is characterized by limited inventory and higher turnover rates, often serving local workers in the agricultural and service sectors.
The local economy is primarily supported by agriculture, small-scale manufacturing, and service-based businesses within Rush County.
Transportation is almost exclusively reliant on private vehicle use via state and county road networks.
There are no major large-scale commercial or residential developments currently under construction in this rural ZIP code.
The Rush County Assessor manages property valuations based on annual market adjustments and state-mandated assessment cycles.
Parcels are subject to Rush County school district taxes and local township levies.
Property insurance premiums are generally stable but reflect regional exposure to severe weather events common in Indiana.
Data retrieved from US Census Bureau 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.
Local community green space for outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.