The story of this market
The typical home in ZIP 47551 sells for about $231,000, or $118 per square foot.
Prices are up +1.2% 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 $950 a month.
ZIP 47551 — Leopold
The housing market in 47551 is characterized by low transaction volume and slow price appreciation, reflecting its rural, isolated nature. Market conditions remain stable but challenging for investors due to limited liquidity and vacancy pressures. Growth is minimal, with the area serving primarily as a residential base for those working in surrounding regional hubs.
This ZIP is best suited for those seeking a quiet, rural lifestyle, including retirees or individuals who work remotely or in nearby regional centers.
Median prices moved up 1.2% year over year.
Homes spend a median of 92 days on market with 7.0 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.0% · poverty 1.3% — 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 5.3%/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 4.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47551, Perry 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 this rural area are generally low and stable, consistent with regional trends for Perry County.
Schools serving this area are part of the Perry County school system, which provides standard rural educational services.
The area is subject to standard regional risks including seasonal storms and potential flooding in low-lying areas near the Ohio River.
Economic momentum is limited due to the rural nature of the geography, with primary employment centered in regional hubs outside the immediate ZIP.
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 requires personal vehicle travel to reach employment centers in larger regional towns, as public transit is not available.
Recreation is primarily focused on outdoor activities, including access to nearby state forest lands and rural trails.
The rental market is characterized by low inventory and limited turnover, with demand primarily driven by local workforce needs.
The local economy is primarily agricultural and small-scale service-oriented, with most residents commuting to larger regional employers.
Transportation is entirely dependent on private vehicle use via rural state and county roads.
There are no major commercial or residential developments currently planned or under construction in this ZIP.
The Perry County Assessor manages property valuations based on annual market adjustments and state-mandated assessment cycles.
Parcels are subject to standard county-level taxing districts, including school and local government levies.
Property insurance premiums are influenced by rural fire protection ratings and regional weather risk profiles.
Net domestic migration is stable with minimal population fluctuation.
Indiana is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a standard residential real estate disclosure form covering known property defects.
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.
- Holiday World & Splashin' Safari4.618.5 mi
- Sycamore Springs Park4.815 mi
- The Patio Steak House4.516.1 mi
- Patoka Lake Winery4.619.1 mi
- Pour Haus4.215.6 mi
- Hemlock Cliffs4.811.8 mi
- Winzerwald Winery4.79.7 mi
- Santa Claus Museum & Village4.718.4 mi
- Hemlock Cliffs4.811.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Provides extensive outdoor recreation and trail access near the ZIP.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.