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Selma town, IN

ZIP 47383 — 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 47383

Median Home Value
$128,400
Median Rent
$803
Affordability Snapshot
$35,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$825/mo PITI).

16%
Rent-to-Income Ratio

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

2.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

13.3 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 47383 in Selma town, 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 $825. That sits below the local median household income ($59,700), 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

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
86.3%+32% vs US avg
x
Vacancy Rate
3.6%-65% vs US avg
x
Broadband Access
90.2%+4% vs US avg
x
4+ Bedrooms
3.7%-75% vs US avg
x
Built Pre-1939
2.4%-81% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
10.2%-79% vs US avg
x
Mortgage-Free
56.8%+49% vs US avg
x
$128,400
Home Value
$803
Rent
1965
Year Built
2002
Moved In

Residents have lived here since ~2002 on average

Housing Structure

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

  • 1-unit detached91.0%
  • 1-unit attached0.0%
  • 2-9 units4.4%
  • 10+ units0.6%
  • Mobile home & other3.9%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$128,400
Median rent$803
Owner-occupied86.3%
Vacant3.6%
Price-to-income2.2x
Est. income to buy$35,000