Indiana
Ripley County
ZIP 47031
29,039 residents98 permits TTM$71,084 median HHI9 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$205,300
ACS 5-Year
Cap rate proxy
4.7%
FMR × 0.65 ÷ Home Value
Rent-to-income
13.5%
HUD FMR ÷ ACS HHI
Net migration
+1.49%
IRS SOI
Permits (TTM)
98
Census BPS
Climate risk
46.8
FEMA NRI (0–100)
ZIP 47031
Median home value
$265,340
Gross yield
5.2%
Cap rate
3.6%
Rent gap
29.9%
Affordability
P/I: 3.7R/I: —
Section 8 detail
SAFMR: $1,140Rent: $799Gap: 42.7%
ZIP code breakdown9 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 47006 | $312,115 | $987 | 3.8% | 3.1% | 19.1% |
| 47017 | $205,300county est. | $1,020 | 6.0% | 4.7% | 21.7% |
| 47021 | $205,300county est. | $987 | 5.8% | 4.7% | 19.1% |
| 47023 | $260,890 | $987 | 4.5% | 3.7% | 19.1% |
| 47031 | $265,340 | $1,140 | 5.2% | 3.6% | 29.9% |
Ranked by composite score
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Demographics
Owner-occupied
77.8%
Census ACS
Vacancy rate
8.4%
Census ACS
Bachelor's degree +
19.4%
Census ACS
Rent burdened
39.6%
Census ACS (>30% income)
Median age
40.9
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026