The story of this market
The typical home in ZIP 47305 sells for about $184,850, or $115 per square foot.
Prices are up +59.8% from a year ago, so sellers still have some momentum. Homes take about 54 days to sell. HUD's fair market rent for a two-bedroom is $1,010 a month.
ZIP 47305 — Muncie
The 47305 housing market is currently balanced, characterized by low entry-level prices and a high proportion of rental properties. While recent sales data shows significant year-over-year price appreciation, this is largely driven by a small volume of transactions in a historically low-value area. Investors remain active, though the market faces challenges related to high vacancy rates and lower median household incomes.
This ZIP is best suited for real estate investors seeking entry-level price points and renters looking for affordable housing options near the city center.
Median prices moved up 59.8% year over year.
Homes spend a median of 54 days on market with 2.6 months of supply — a fast-moving market.
10% of listings have cut prices · homes sell at 98.8% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 23.1% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
ZCTA 47305, Delaware County IN
The area experiences elevated crime rates relative to national averages, with local reports indicating a need for caution in specific neighborhoods.
Schools serving the area are part of the Muncie Community Schools district, which has faced historical challenges but is undergoing ongoing reform efforts.
The area is primarily subject to standard Midwestern weather risks, including severe thunderstorms and occasional wind events; flood risk is localized to specific low-lying areas near the White River.
Economic momentum is driven by the presence of Ball State University and efforts to revitalize the downtown Muncie core, though industrial growth remains modest.
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 centrally located within Muncie, providing short drive times to the downtown employment core and Ball State University campus.
Residents have access to local parks, the Cardinal Greenway trail system, and various community centers within a 3-mile radius.
The rental market is characterized by high vacancy rates and a significant renter-occupied share, with rent trajectories showing moderate growth.
The economy is anchored by Ball State University, IU Health Ball Memorial Hospital, and a mix of local manufacturing and service-sector employers.
The area is served by Muncie Indiana Transit System (MITS) bus routes and is accessible via major local arterial roads.
Development is focused on urban infill and the rehabilitation of historic residential properties.
The Delaware County Assessor manages property valuations, with assessments conducted annually to reflect market changes.
Parcels are subject to Muncie Community Schools district taxes and various municipal utility service districts.
Property insurance premiums are generally stable, though coverage for older housing stock may require specialized policies.
Data retrieved from census.gov and local market reports.
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.
A major multi-use trail system passing through the area.
The central hub for local dining and entertainment.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.