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Connersville city, IN

ZIP 47331 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 47331

Median Home Value
$115,300
Median Rent
$583
Affordability Snapshot
$32,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$741/mo PITI).

12%
Rent-to-Income Ratio

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

2.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.5 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 47331 in Connersville city, IN, a household would need roughly $32,000 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 $741. That sits below the local median household income ($56,530), 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 13% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
70.0%+7% vs US avg
x
Vacancy Rate
13.3%+29% vs US avg
x
Broadband Access
84.9%-2% vs US avg
x
4+ Bedrooms
3.8%-74% vs US avg
x
Built Pre-1939
9.7%-24% vs US avg
x
Built Post-2014
0.3%-96% vs US avg
x
Rent Burden >30%
24.7%-50% vs US avg
x
Mortgage-Free
40.7%+7% vs US avg
x
$115,300
Home Value
$583
Rent
1962
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

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

  • 1-unit detached79.2%
  • 1-unit attached1.1%
  • 2-9 units9.3%
  • 10+ units5.1%
  • Mobile home & other5.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$115,300
Median rent$583
Owner-occupied70.0%
Vacant13.3%
Price-to-income2.0x
Est. income to buy$32,000