The story of this market
The typical home in ZIP 47987 sells for about $249,000, or $144 per square foot.
Prices are up +38% from a year ago, so sellers still have some momentum. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,010 a month.
ZIP 47987 — Veedersburg
The housing market in 47987 is characterized by low inventory and modest price growth, reflecting a stable but slow-moving rural market. Recent data shows a median sale price of $249,000 with very limited active listings, indicating a tight supply environment. The area remains affordable compared to state averages, though rental affordability is a concern for a portion of the population.
This ZIP is best suited for local workers and families seeking affordable, rural-style housing who are comfortable with a car-dependent lifestyle and limited immediate access to urban amenities.
Median prices moved up 38.0% year over year.
Homes spend a median of 84 days on market with 0.2 months of supply — a fast-moving market.
6% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.8% · poverty 14.0% — 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 12.0%/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 4.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 47987, Fountain County, IN
The area is served by the Fountain Central school system, which provides rural public education for the community.
The area is subject to standard Midwestern climate risks, including seasonal wind and storm events; flood risk is localized to specific low-lying areas near water bodies.
Economic momentum is modest, characterized by agricultural support services and small-town commercial activity with limited large-scale industrial development.
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.
Commutes are primarily car-dependent, with residents typically driving to regional employment hubs in Lafayette or Crawfordsville via state highway corridors.
Local recreation includes access to small community parks and proximity to rural outdoor spaces, with limited large-scale shopping or entertainment venues within a 3-mile radius.
The rental market is characterized by limited inventory and affordability pressures, with a significant portion of renters meeting the federal cost-burden threshold.
The local economy is anchored by agriculture, small-scale manufacturing, and local government services.
Transportation is dominated by private vehicle use on state highways; there is no significant public transit infrastructure.
There are no major large-scale commercial or residential developments currently reported in the pipeline for this ZIP.
Fountain County Assessor manages property valuations for tax purposes.
Parcels are subject to Fountain County and local school district levies.
Property insurance premiums are influenced by regional exposure to severe weather events common in the Midwest.
Data retrieved from Census Reporter and ZIP-Codes.com 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. Source: NCES EDGE public school locations 2023-24.
Local community green space for recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.