US5.com
  1. Home
  2. States
  3. Indiana
  4. ZIP 47115
  5. Housing & Real Estate
Milltown town, IN

ZIP 47115 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 47115

Median Home Value
$194,800
Median Rent
$511
Affordability Snapshot
$54,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,251/mo PITI).

7%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

31.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 47115 in Milltown town, IN, a household would need roughly $54,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,251. That sits below the local median household income ($83,796), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
90.2%+38% vs US avg
x
Vacancy Rate
11.3%+10% vs US avg
x
Broadband Access
75.4%-13% vs US avg
x
4+ Bedrooms
1.7%-88% vs US avg
x
Built Pre-1939
3.5%-73% vs US avg
x
Built Post-2014
1.6%-76% vs US avg
x
Rent Burden >30%
15.1%-70% vs US avg
x
Mortgage-Free
43.0%+13% vs US avg
x
$194,800
Home Value
$511
Rent
1986
Year Built
2004
Moved In

Residents have lived here since ~2004 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached80.9%
  • 1-unit attached1.6%
  • 2-9 units0.7%
  • 10+ units2.0%
  • Mobile home & other14.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$194,800
Median rent$511
Owner-occupied90.2%
Vacant11.3%
Price-to-income2.3x
Est. income to buy$54,000