The median home value in ZIP Code 47305 (Muncie, IN) is $55,500. Approximately 36.3% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 10.3%.
The average occupancy of owner-occupied units in ZIP Code 47305 is 2.03 occupants, while owner-occupied units have an aggregate average size of 2.01 bedrooms per housing unit.
In the 47305 ZIP Code, an estimated 63.7% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 10.3%.
Among renter-occupied units in this ZIP, the average occupancy is 1.91 occupants, while renters in this Delaware County region spend an average of 0% of their income on housing rental costs.
See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 47305.
| ZIP 47305 | Indiana | U.S. | |
|---|---|---|---|
| Median Home Value | $55,500 | $254,932 | $356,002 |
| Owner-Occupied Housing Units | 36.3% | 69.1% | 64.0% |
| Homeowner Vacancy Rate | 10.3% | 1.5% | 1.6% |
| Average Size of Owner-Occupied Unit | 2.03 | 2.61 | 2.70 |
| Average # of Bedrooms Per Unit | 2.01 | 2.79 | 2.75 |
| Median Housing Rent | $0 | $826 | $1,062 |
| Renter-Occupied Housing Units | 63.7% | 30.9% | 36.0% |
| Rental Vacancy Rate | 10.3% | 7.1% | 6.0% |
| Average Size of Renter-Occupied Unit | 1.91 | 2.32 | 2.49 |
| Percent of Income Spent on Rent | 0% | 28.96% | 29.83% |
The median home value in ZIP Code 47305 is $55,500. That median value is about 61% lower than the median home value of $141,700 in Indiana overall, and is 74% lower than the $217,500 the median home value in the entire U.S. An estimated 46.6% of homes in ZIP Code 47305 are valued less than $50,000. That is 455% higher than in the stat of Indiana, in which 8.4% of homes are valued at less than $50,000, and is about 575% higher than in the U.S. overall (6.9% of homes valued at less than $50,000). The home value range that the smallest portion of ZIP Code 47305 homes fall into is $1,000,000 or more (0.0% of homes).
This chart visualizes the breakdown of home values in ZIP Code 47305, Indiana, and also in the U.S. overall.
See the table below for a regional comparison of home values in ZIP Code 47305.
| Home Value | ZIP 47305 | Indiana | U.S. |
|---|---|---|---|
| Less than $50,000 | 46.6% | 8.4% | 6.9% |
| $50,000 to $99,999 | 42.7% | 22.6% | 12.0% |
| $100,000 to $149,999 | 7.0% | 22.6% | 13.3% |
| $150,000 to $199,999 | 0.0% | 17.9% | 14.0% |
| $200,000 to $299,999 | 1.9% | 16.0% | 19.6% |
| $300,000 to $499,999 | 1.8% | 9.2% | 19.3% |
| $500,000 to $999,999 | 0.0% | 2.8% | 11.4% |
| $1,000,000 or more | 0.0% | 0.6% | 3.4% |
Approximately 71.8% of homes in this Muncie, IN region were built in 1939 or earlier. This amount of homes built in 1939 or earlier in ZIP Code 47305 is about 320% higher than percentage of homes built in this time period in Indiana overall (17.1% of homes), and is 470% higher the percentage (12.6% of homes) in the U.S. as a whole. Additionally, an esimated 11.5% of local homes were built in 1940 to 1949. On the other end of the scale, just 0.2% of homes in this Delaware County ZIP Code were built in 2010 to 2013 in ZIP Code 47305. In comparison, 2.4% of homes in Indiana overall were built in 2010 to 2013, while 2.7% of all U.S. homes were built in this time period.
A detailed regional comparison of home ages in ZIP Code 47305.
| Year Built | ZIP 47305 | Indiana | U.S. |
|---|---|---|---|
| 2014 or later | 1.2% | 2.1% | 2.5% |
| 2010 to 2013 | 0.2% | 2.4% | 2.7% |
| 2000 to 2009 | 2.6% | 12.2% | 14.0% |
| 1990 to 1999 | 0.3% | 14.7% | 13.9% |
| 1980 to 1989 | 4.5% | 10.0% | 13.4% |
| 1970 to 1979 | 2.1% | 13.9% | 15.2% |
| 1960 to 1969 | 2.3% | 10.9% | 10.6% |
| 1950 to 1959 | 3.5% | 11.0% | 10.3% |
| 1940 to 1949 | 11.5% | 5.7% | 4.9% |
| 1939 or earlier | 71.8% | 17.1% | 12.6% |
See the chart below for details on the age of homes in ZIP Code 47305, Indiana, and also in the U.S. overall. Data here refers to years that homes were built.
Frequently asked questions about housing in this Muncie, IN ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 47305.
