The story of this market
The typical home in ZIP 47342 sells for about $143,738, or $105 per square foot.
Prices are down 9.1% from a year ago, which gives buyers more room to negotiate. Homes take about 49.9 days to sell. HUD's fair market rent for a two-bedroom is $913 a month.
ZIP 47342 — Gaston
The Gaston housing market is characterized by low inventory and stable, albeit modest, price growth. Market activity is driven by local demand rather than speculative investment, with affordability remaining a key feature compared to the broader region. Data for specific metrics like tax history and detailed permit activity are not currently published at the ZIP level.
This ZIP is best suited for families and individuals seeking a quiet, rural-adjacent lifestyle with affordable housing options and proximity to Muncie's amenities.
Median prices moved down 9.1% year over year.
Homes spend a median of 50 days on market with 6.6 months of supply — a balanced-paced market.
7% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 8.0% — a stable, low-distress 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 7.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 47342, Delaware County, IN
The area is served by the Wes-Del Community School Corporation, which provides local public education for the Gaston community.
The area is situated in a low-risk zone for major natural disasters, though it remains subject to standard Midwestern weather patterns.
Economic momentum is largely tied to the broader Muncie MSA, with local development focused on residential stability rather than large-scale commercial expansion.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. 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) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. 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.
Residents primarily commute by car toward Muncie, which serves as the regional employment and service hub.
The area features rural landscapes and local community parks, with more extensive shopping and dining options located within a short drive in Muncie.
The rental market is characterized by modest demand and limited inventory, with rents trending upward in line with regional HUD fair market rent adjustments.
The local economy is primarily supported by the broader Muncie MSA, with employment concentrated in education, healthcare, and manufacturing sectors.
Transportation is heavily reliant on personal vehicles, with access to regional highways connecting Gaston to Muncie and surrounding Delaware County.
There are no major large-scale commercial or infrastructure projects currently reported for the Gaston ZIP code.
The Delaware County Assessor manages property valuations, adhering to Indiana's cyclical assessment process.
Parcels are subject to the Wes-Del Community School Corporation and standard county-level taxing districts.
Property insurance premiums are generally stable, reflecting the area's low exposure to catastrophic natural hazards.
Indiana is a judicial foreclosure state, requiring court intervention to complete the foreclosure process.
Indiana law requires sellers to provide a written disclosure form detailing the condition of the property to potential buyers.
Data retrieved from US Census Bureau and local demographic aggregators.
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.
Local green space serving the town residents.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.