Indianapolis-Carmel-Anderson, IN · Indiana
Brown County
ZIP 47435
15,543 residents61 permits TTM$72,644 median HHI4 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$242,500
ACS 5-Year
Cap rate proxy
7.3%
FMR × 0.65 ÷ Home Value
Rent-to-income
15.9%
HUD FMR ÷ ACS HHI
Net migration
+2.39%
IRS SOI
Permits (TTM)
61
Census BPS
Climate risk
19.7
FEMA NRI (0–100)
ZIP 47435
Median home value
$242,500
Gross yield
6.3%
Cap rate
4.8%
Rent gap
24.4%
Affordability
P/I: 3.3R/I: —
Section 8 detail
SAFMR: $1,270Rent: $960Gap: 32.3%
ZIP code breakdown4 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 47435 | $242,500county est. | $1,270 | 6.3% | 4.8% | 24.4% |
| 47448 | $330,443 | $1,290 | 4.7% | 3.5% | 25.6% |
| 46160 | $331,008 | $1,110 | 4.0% | 3.5% | 13.5% |
| 46164 | $351,866 | $1,160 | 4.0% | 3.3% | 17.2% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
85.9%
Census ACS
Vacancy rate
21.6%
Census ACS
Bachelor's degree +
26.0%
Census ACS
Rent burdened
54.5%
Census ACS (>30% income)
Median age
50.9
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