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Milroy CDP, IN

ZIP 46156 — 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 46156

Median Home Value
$128,600
Median Rent
$711
Affordability Snapshot
$35,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$826/mo PITI).

11%
Rent-to-Income Ratio

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

1.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

15.1 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 46156 in Milroy CDP, IN, a household would need roughly $35,000 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 $826. That sits below the local median household income ($76,964), 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 26% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
85.9%+31% vs US avg
x
Vacancy Rate
26.0%+153% vs US avg
x
Broadband Access
76.9%-12% vs US avg
x
4+ Bedrooms
3.2%-78% vs US avg
x
Built Pre-1939
1.9%-86% vs US avg
x
Built Post-2014
1.5%-78% vs US avg
x
Rent Burden >30%
12.9%-74% vs US avg
x
Mortgage-Free
52.5%+37% vs US avg
x
$128,600
Home Value
$711
Rent
1942
Year Built
2004
Moved In

Residents have lived here since ~2004 on average

Housing Structure

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

  • 1-unit detached75.7%
  • 1-unit attached0.0%
  • 2-9 units14.9%
  • 10+ units3.9%
  • Mobile home & other5.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$128,600
Median rent$711
Owner-occupied85.9%
Vacant26.0%
Price-to-income1.7x
Est. income to buy$35,000