How much is a home worth in ZIP code 47302?

The typical home in 47302 is worth $104,695, based on the Zillow Home Value Index.

Are home values rising in 47302?

Home values in 47302 are down 1.9% over the past year, and up 8.7% a year over five years.

What is the typical rent in 47302?

A typical home in 47302 rents for about $985 a month, a gross rental yield of 11.3%.

What is the property tax rate in 47302?

The effective property tax rate in 47302 is 0.8% — roughly $816 a year on a typical home.

ZIP code 47302 has a population of 25,473 and a median household income of $47,837.

HousingHandbookReference data

…

U.S. ZIP Code · IN47302

Delaware County · Muncie, IN

Typical home value

$104,695^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.9%
5-year / yr: +8.7%
10-year / yr: +8.7%

Relative price

vs U.S.: -63.1%
vs metro: -47.2%
vs state: -54.7%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 47302 is worth $104,695 — 47.2% below the Muncie, IN median. Over the past year, values have fallen 1.9%. Homes here rent for a typical $985 a month — a 11.3% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $985^[2]
Gross yield: 11.3%^[2]
Cap rate: 6.8%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $816^[3]

#Climate risk

FEMA National Risk Index ratings for Delaware County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Low^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Very Low
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 25,473^[3]
Median household income: $47,837^[3]

#Migration

Household moves in and out of Delaware County over a year, from IRS tax-return data.

Net migration: +23^[5]
Moved in: 2,758
Moved out: 2,735

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 4
Middle: 1
High: 1

South View Elementary School
Elementary · Grades PK–5 · Muncie Community Schools
498 students
Southside Middle School
Middle · Grades 6–8 · Muncie Community Schools
459 students
Grissom Elementary School
Elementary · Grades PK–5 · Muncie Community Schools
451 students
Cowan Elementary School
Elementary · Grades K–6 · Cowan Community School Corp
436 students
Cowan High School
High · Grades 7–12 · Cowan Community School Corp
350 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield11.3%

Net yield (after ~40% expenses)6.8%

Annual rent$11,816

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$529

Loan principal$83,756

Down payment$20,939

Total interest paid$106,826

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio0.70

Monthly cost to own$685

Monthly rent$985

Owning is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 100th percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 44th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

8th for highest rental yield in INView list →

Frequently asked

How much is a home worth in ZIP code 47302?: The typical home in 47302 is worth $104,695, based on the Zillow Home Value Index.
Are home values rising in 47302?: Home values in 47302 are down 1.9% over the past year, and up 8.7% a year over five years.
What is the typical rent in 47302?: A typical home in 47302 rents for about $985 a month, a gross rental yield of 11.3%.
What is the property tax rate in 47302?: The effective property tax rate in 47302 is 0.8% — roughly $816 a year on a typical home.
Who lives in 47302?: ZIP code 47302 has a population of 25,473 and a median household income of $47,837.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

47305 vs 47302 →
Muncie, IN
Typical home
$80,206
Gross yield
—
47303 vs 47302 →
Muncie, IN
Typical home
$143,205
Gross yield
7.7%
47338
Eaton, IN
Typical home
$170,786
Gross yield
—
47320
Albany, IN
Typical home
$194,594
Gross yield
—
47342
Gaston, IN
Typical home
$201,636
Gross yield
—
47304
Muncie, IN
Typical home
$212,280
Gross yield
6.7%

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Pit ZIP 47302 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN47302

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