The story of this market
The typical home in ZIP 47016 sells for about $290,000, or $132 per square foot.
Homes take about 50 days to sell. HUD's fair market rent for a two-bedroom is $763 a month.
ZIP 47016 — Cedar Grove
The housing market in 47016 is extremely quiet with virtually no active inventory and very low sales volume. The area functions as a small, rural retirement community with stable, low-cost housing and limited economic growth. Figures for price cuts and months of supply are not determinable due to the lack of active listings.
This ZIP is best suited for retirees or those seeking a quiet, rural lifestyle, as it lacks the employment base and infrastructure for commuters or young families.
Median prices moved sideways 0.0% year over year.
Homes spend a median of 50 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.6% · poverty 3.4% — a stable, low-distress profile.
ZCTA 47016, Franklin County, IN
The area is subject to county-linked National Risk Index values for flood and wildfire exposure.
The area is a small, rural, retirement-oriented community with limited industrial or infrastructure development momentum.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
The area is highly remote with a mean commute time reported at approximately 58.6 to 180 minutes, reflecting its rural isolation.
Recreational opportunities are limited to the rural landscape of Franklin County; no major shopping or entertainment districts are located within the ZIP.
The rental market is very thin with a median rent of $763; vacancy pressure is low due to the small, stable population.
The local economy is small and rural, with limited major employers; residents often rely on regional employment centers outside the immediate ZIP.
Transportation is entirely dependent on private vehicles due to the lack of public transit infrastructure in this rural Franklin County area.
There are no major approved or under-construction developments reported for this rural ZIP code.
Franklin County assesses property values for taxation purposes, with rates varying by local district.
Parcels are subject to standard Franklin County taxing jurisdictions, including local school and county-level service districts.
Property insurance premiums are influenced by regional rural hazard profiles, including flood and wildfire risks.
Data retrieved from US Census Bureau ACS 5-year estimates via SimpleMaps and IncomeByZipCode.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.