Indiana

Switzerland County

ZIP 47038

9,914 residents81 permits TTM$65,148 median HHI4 ZIP codesUpdated April 16, 2026
Investor first look

Median home value

$183,200

ACS 5-Year

Cap rate proxy

4.7%

FMR × 0.65 ÷ Home Value

Rent-to-income

13.3%

HUD FMR ÷ ACS HHI

Net migration

+1.34%

IRS SOI

Permits (TTM)

81

Census BPS

Climate risk

11.6

FEMA NRI (0–100)

ZIP 47038

Median home value

$183,200

Gross yield

6.4%

Cap rate

4.7%

Rent gap

26.5%

Affordability

P/I: 3.5R/I:

Section 8 detail

SAFMR: $980Rent: $720Gap: 36.1%
ZIP code breakdown4 ZIP codes

Numbers repeat across most ZIPs in this county

ZIP-level home-value data isn't published for rural areas. Federal sources (Census ACS, HUD non-metro FMR) are available at the county level only, so home-value, cap-rate, and rent-gap numbers use the county estimate for every ZIP in the county.

ZIPMedian home valueRent (FMR 2BR)Gross yieldCap rateRent gap
47011$183,200county est.$1,0106.6%4.7%28.7%
47020$183,200county est.$9566.3%4.7%24.7%
47038$183,200county est.$9806.4%4.7%26.5%
47043$231,384$9565.0%3.7%24.7%

Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.

Demographics

Owner-occupied

79.8%

Census ACS

Vacancy rate

11.4%

Census ACS

Bachelor's degree +

10.0%

Census ACS

Rent burdened

33.0%

Census ACS (>30% income)

Median age

42.1

Census ACS

Data sources
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