How much is a home worth in ZIP code 47303?

The typical home in 47303 is worth $143,205, based on the Zillow Home Value Index.

Are home values rising in 47303?

Home values in 47303 are up 2.0% over the past year, and up 8.0% a year over five years.

What is the typical rent in 47303?

A typical home in 47303 rents for about $924 a month, a gross rental yield of 7.7%.

What is the property tax rate in 47303?

The effective property tax rate in 47303 is 0.8% — roughly $1,094 a year on a typical home.

ZIP code 47303 has a population of 24,392 and a median household income of $47,674.

HousingHandbookReference data

…

U.S. ZIP Code · IN47303

Delaware County · Muncie, IN

Typical home value

$143,205^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.0%
5-year / yr: +8.0%
10-year / yr: +8.4%

Relative price

vs U.S.: -49.6%
vs metro: -27.7%
vs state: -38.1%

Price history

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

The typical home in 47303 is worth $143,205 — 27.7% below the Muncie, IN median. Over the past year, values have risen 2.0%. Homes here rent for a typical $924 a month — a 7.7% 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: $924^[2]
Gross yield: 7.7%^[2]
Cap rate: 4.6%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $1,094^[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: 24,392^[3]
Median household income: $47,674^[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: 5
Elementary: 2
Middle: 1
High: 2

Delta High School
High · Grades 9–12 · Delaware Community School Corp
800 students
Delta Middle School
Middle · Grades 6–8 · Delaware Community School Corp
621 students
Royerton Elementary School
Elementary · Grades K–5 · Delaware Community School Corp
597 students
Longfellow Elementary School
Elementary · Grades PK–5 · Muncie Community Schools
332 students
Muncie Area Career Center
High · Grades 6–12 · Muncie Community Schools
0 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 yield7.7%

Net yield (after ~40% expenses)4.6%

Annual rent$11,091

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$724

Loan principal$114,564

Down payment$28,641

Total interest paid$146,120

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 ratio1.01

Monthly cost to own$934

Monthly rent$924

Owning and renting are roughly even.

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: 56th percentile^[1]
Rental yield: 50th percentile^[2]
Property tax: 33rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 47303?: The typical home in 47303 is worth $143,205, based on the Zillow Home Value Index.
Are home values rising in 47303?: Home values in 47303 are up 2.0% over the past year, and up 8.0% a year over five years.
What is the typical rent in 47303?: A typical home in 47303 rents for about $924 a month, a gross rental yield of 7.7%.
What is the property tax rate in 47303?: The effective property tax rate in 47303 is 0.8% — roughly $1,094 a year on a typical home.
Who lives in 47303?: ZIP code 47303 has a population of 24,392 and a median household income of $47,674.

#Comparable ZIPs

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

47338 vs 47303 →
Eaton, IN
Typical home
$170,786
Gross yield
—
47302 vs 47303 →
Muncie, IN
Typical home
$104,695
Gross yield
11.3%
47320
Albany, IN
Typical home
$194,594
Gross yield
—
47342
Gaston, IN
Typical home
$201,636
Gross yield
—
47305
Muncie, IN
Typical home
$80,206
Gross yield
—
47304
Muncie, IN
Typical home
$212,280
Gross yield
6.7%

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#Jump to section

U.S. ZIP Code · IN47303

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