Indiana
Spencer County
19,871 residents67 permits TTM$70,890 median HHI11 ZIP codesUpdated April 28, 2026
Investor first look
Median home value
$180,200
ACS 5-Year
Cap rate proxy
4.6%
FMR × 0.65 ÷ Home Value
Rent-to-income
11.8%
HUD FMR ÷ ACS HHI
Net migration
+1.61%
IRS SOI
Permits (TTM)
67
Census BPS
Climate risk
39.4
FEMA NRI (0–100)
ZIP code breakdown11 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 47531 | $263,957 | $956 | 4.3% | 3.2% | 27.1% |
| 47537 | $180,200county est. | $956 | 6.4% | 4.6% | 27.1% |
| 47550 | $180,200county est. | $956 | 6.4% | 4.6% | 27.1% |
| 47552 | $180,200county est. | $956 | 6.4% | 4.6% | 27.1% |
| 47577 | $180,200county est. | $956 | 6.4% | 4.6% | 27.1% |
Ranked by composite score
Compare all ZIPs in Spencer County
See all 11 ZIPs ranked by yield and cap rate
Compare yields, cap rates, rent gaps, and affordability across every ZIP. Free account.
- Sortable table — sort by yield, rent gap, affordability
- Drill into any ZIP for full detail
- Save markets and weekly market digest
Free · No credit card · No spam
6
ZIP comparison table. Showing 5 of 11 ZIPs. Sign up to see all.
Demographics
Owner-occupied
81.2%
Census ACS
Vacancy rate
8.1%
Census ACS
Bachelor's degree +
21.2%
Census ACS
Rent burdened
32.5%
Census ACS (>30% income)
Median age
44.2
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 28, 2026