The story of this market
The typical home in ZIP 46157 sells for about $310,000, or $155 per square foot.
Prices are down 1.9% from a year ago, which gives buyers more room to negotiate. Homes take about 34 days to sell. HUD's fair market rent for a two-bedroom is $789 a month.
ZIP 46157 — Monrovia
The Monrovia housing market is currently a seller's market with a median sale price of $310,000. While inventory remains tight, the market has seen a slight year-over-year price adjustment, reflecting a stabilization in demand. The area remains attractive to families due to its high owner-occupancy rate and relatively affordable housing compared to the broader Indianapolis metro.
This ZIP is best suited for family buyers seeking single-family homes in a quiet, rural-suburban setting with high owner-occupancy rates.
Median prices moved down 1.9% year over year.
Homes spend a median of 34 days on market with 1.0 months of supply — a fast-moving market.
59% of listings have cut prices · homes sell at 98.7% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.8% · poverty 10.8% — 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 8.2%/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 8.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 46157, Morgan County IN
The area is served by the Monrovia-Morgan County Metropolitan School District, which is generally characterized as a small, community-focused district.
The area has a flood score of 70.9 and a wildfire score of 23.1, based on county-linked NRI values.
Development is characterized by steady residential expansion with a focus on single-family housing, supported by proximity to the Indianapolis metro area.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. 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) — 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 mean commute time is significantly high at approximately 180 minutes, reflecting a reliance on regional transit corridors toward employment hubs.
Local amenities include access to rural green spaces and community parks, with limited large-scale shopping or entertainment venues within the immediate 3-mile radius.
The rental market is limited, with a high share of owner-occupied housing and a median rent significantly below the national average.
The local economy is driven by construction, healthcare, and retail trade, with a significant portion of the workforce commuting to the broader Indianapolis area.
Transportation is primarily highway-dependent, with State Road 42 serving as a key corridor for regional access.
Development is focused on low-density residential growth on the periphery of the town.
Morgan County utilizes a standard assessment regime based on market value, with annual adjustments to reflect property transfer records.
Parcels are subject to standard county and school district levies; no major MUD/PID districts are reported.
Property insurance premiums are influenced by regional weather patterns, including moderate flood and wind risk profiles.
Data retrieved from US Census Bureau and US5.com.
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. Source: NCES EDGE public school locations 2023-24.
Local recreational space serving the town residents.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.