How much is a home worth in ZIP code 47906?

The typical home in 47906 is worth $365,632, based on the Zillow Home Value Index.

Are home values rising in 47906?

Home values in 47906 are up 0.9% over the past year, and up 6.0% a year over five years.

What is the typical rent in 47906?

A typical home in 47906 rents for about $1,724 a month, a gross rental yield of 5.7%.

What is the property tax rate in 47906?

The effective property tax rate in 47906 is 0.7% — roughly $2,693 a year on a typical home.

ZIP code 47906 has a population of 75,198 and a median household income of $53,103.

HousingHandbookReference data

…

U.S. ZIP Code · IN47906

Tippecanoe County · Lafayette-West Lafayette, IN

Typical home value

$365,632^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.9%
5-year / yr: +6.0%
10-year / yr: +6.3%

Relative price

vs U.S.: +28.7%
vs metro: +60.7%
vs state: +58.0%

Price history

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

The typical home in 47906 is worth $365,632 — 60.7% above the Lafayette-West Lafayette, IN median. Over the past year, values have risen 0.9%. Homes here rent for a typical $1,724 a month — a 5.7% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

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

Monthly rent: $1,724^[2]
Gross yield: 5.7%^[2]
Cap rate: 3.4%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $2,693^[3]

#Climate risk

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

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

#Who lives here

Population: 75,198^[3]
Median household income: $53,103^[3]

#Migration

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

Net migration: -1,217^[5]
Moved in: 4,879
Moved out: 6,096

Schools

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

Public schools: 8
Elementary: 3
Middle: 3
High: 2

William Henry Harrison High School
High · Grades 9–12 · Tippecanoe School Corp
2,169 students
West Lafayette Jr/Sr High School
High · Grades 7–12 · West Lafayette Com School Corp
1,110 students
Klondike Elementary School
Elementary · Grades K–5 · Tippecanoe School Corp
932 students
Burnett Creek Elementary School
Elementary · Grades K–5 · Tippecanoe School Corp
775 students
Battle Ground Middle School
Middle · Grades 6–8 · Tippecanoe School Corp
722 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 yield5.7%

Net yield (after ~40% expenses)3.4%

Annual rent$20,686

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$1,849

Loan principal$292,506

Down payment$73,126

Total interest paid$373,075

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 ratio1.38

Monthly cost to own$2,379

Monthly rent$1,724

Renting 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: 4th percentile^[1]
Rental yield: 40th percentile^[2]
Property tax: 88th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

1st for most populous in INView list →

Frequently asked

How much is a home worth in ZIP code 47906?: The typical home in 47906 is worth $365,632, based on the Zillow Home Value Index.
Are home values rising in 47906?: Home values in 47906 are up 0.9% over the past year, and up 6.0% a year over five years.
What is the typical rent in 47906?: A typical home in 47906 rents for about $1,724 a month, a gross rental yield of 5.7%.
What is the property tax rate in 47906?: The effective property tax rate in 47906 is 0.7% — roughly $2,693 a year on a typical home.
Who lives in 47906?: ZIP code 47906 has a population of 75,198 and a median household income of $53,103.

#Comparable ZIPs

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

47992 vs 47906 →
West Point CDP, IN
Typical home
$362,084
Gross yield
—
47920 vs 47906 →
Battle Ground, IN
Typical home
$332,536
Gross yield
—
47981
Romney CDP, IN
Typical home
$327,047
Gross yield
—
47905
Lafayette, IN
Typical home
$293,835
Gross yield
5.1%
46920
IN
Typical home
$290,598
Gross yield
—
47909
Shadeland, IN
Typical home
$278,827
Gross yield
7.2%

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Pit ZIP 47906 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN47906

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