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Patriot town, IN

ZIP 47038 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 47038

Median Home Value
$122,100
Median Rent
$438
Affordability Snapshot
$34,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$784/mo PITI).

11%
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.

23.2 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 47038 in Patriot town, IN, a household would need roughly $34,000 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 $784. That sits below the local median household income ($47,941), 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 33% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
84.4%+29% vs US avg
x
Vacancy Rate
32.7%+217% vs US avg
x
Broadband Access
66.6%-23% vs US avg
x
4+ Bedrooms
1.7%-89% vs US avg
x
Built Pre-1939
0.2%-99% vs US avg
x
Built Post-2014
8.2%+18% vs US avg
x
Rent Burden >30%
1.6%-97% vs US avg
x
Mortgage-Free
64.2%+68% vs US avg
x
$122,100
Home Value
$438
Rent
1994
Year Built
2005
Moved In

Residents have lived here since ~2005 on average

Housing Structure

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

  • 1-unit detached66.2%
  • 1-unit attached0.0%
  • 2-9 units2.0%
  • 10+ units0.0%
  • Mobile home & other31.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$122,100
Median rent$438
Owner-occupied84.4%
Vacant32.7%
Price-to-income2.5x
Est. income to buy$34,000