US5.com
  1. Home
  2. States
  3. Indiana
  4. ZIP 46051
  5. Housing & Real Estate
Lapel town, IN

ZIP 46051 — 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 46051

Median Home Value
$190,700
Median Rent
$954
Affordability Snapshot
$52,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,225/mo PITI).

15%
Rent-to-Income Ratio

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

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.7 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 46051 in Lapel town, IN, a household would need roughly $52,000 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 $1,225. That sits below the local median household income ($77,411), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
72.7%+11% vs US avg
x
Vacancy Rate
3.7%-64% vs US avg
x
Broadband Access
88.4%+2% vs US avg
x
4+ Bedrooms
4.0%-73% vs US avg
x
Built Pre-1939
5.0%-61% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
9.9%-80% vs US avg
x
Mortgage-Free
34.3%-10% vs US avg
x
$190,700
Home Value
$954
Rent
1971
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

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

  • 1-unit detached84.1%
  • 1-unit attached2.5%
  • 2-9 units10.1%
  • 10+ units2.0%
  • Mobile home & other1.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$190,700
Median rent$954
Owner-occupied72.7%
Vacant3.7%
Price-to-income2.5x
Est. income to buy$52,000