The story of this market
The typical home in ZIP 47458 sells for about $299,900, or $145 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 62 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,150 a month.
ZIP 47458 — Smithville
The housing market in 47458 remains stable with modest year-over-year price appreciation and low inventory levels. Demand is driven by local residents and those seeking rural affordability, though limited new construction keeps supply tight. Market conditions are expected to remain consistent with current trends through the next quarter.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with affordable housing options compared to nearby urban centers.
Median prices moved up 2.1% year over year.
Homes spend a median of 62 days on market with 4.2 months of supply — a balanced-paced market.
12% 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 0.0% — 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 9.3%/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 7.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47458, Owen County, Indiana
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Schools serving the area are primarily managed by the Spencer-Owen Community School Corporation, which maintains a rural district profile.
Economic momentum is driven by local agricultural and small-scale manufacturing sectors with limited large-scale commercial development.
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 commutes to regional employment hubs in Bloomington or Indianapolis.
The area features proximity to McCormick's Creek State Park, offering extensive hiking trails, camping, and natural scenic amenities.
The rental market is characterized by low inventory and steady demand from local workers, with limited short-term rental saturation.
The local economy is anchored by education, healthcare, and regional manufacturing services.
Transportation is primarily served by state highway corridors connecting to larger regional transit networks.
Development is currently focused on small-scale residential infill and infrastructure maintenance.
The Owen County Assessor manages property valuations based on annual market adjustments.
Parcels are subject to Spencer-Owen Community School Corporation levies and local county tax districts.
Property insurance premiums are generally stable, reflecting the low-hazard rural environment.
Indiana is a judicial foreclosure state requiring court intervention for property repossession.
Sellers are required to provide a standard residential real estate disclosure form covering known material defects.
Data retrieved from Census Reporter and ACS 2024 profiles.
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.
Indiana's first state park featuring limestone canyons and waterfalls.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.