| ZIP Code | 47031 |
|---|---|
| City | Milan |
| State | Indiana (IN) |
| County | Ripley County |
| Area Code | 812/930 |
| Elevation | 983 ft |
| Latitude | 39.130564 |
|---|---|
| Longitude | -85.148398 |
| Timezone | Indiana/Indianapolis (DST) |
| FIPS | 18137 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 42.1 yrs ↑ 4% since 2019 |
|---|---|
| Avg Household Size | 2.61 |
| Below Poverty | 10.2% ≈ Avg |
| College Grads | 26.7% ▼ 31% below avg |
| Unemployment | 5.2% ≈ Avg |
| No HS Diploma | 59 (1.8%) |
| HS Graduate | 1,664 (50.5%) |
| Some College | 419 (12.7%) |
| Associates | 274 (8.3%) |
| Bachelors | 340 (10.3%) |
| Graduate Degree | 539 (16.4%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $67,520 ▼ 12% below avg ↑ 16% since 2019 |
|---|---|
| Median Home Value | $188,800 ▼ 32% below avg ↑ 23% since 2019 |
| Home/Income Ratio | 2.8x (nat avg ~3.5x) |
| Median Rent | $939/mo ↑ 20% since 2019 |
| Total Units | 2,036 |
| Vacant Units | 95 |
| Avg HH Size | 2.61 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 2,036 |
|---|---|
| Vacant | 95 |
| Owner Occupied | 77.6% |
| Renter Occupied | 22.4% |
| Avg HH Size | 2.61 |
ZIP code 47031 is located in Milan, Indiana, within Ripley County. With a population of 5,179, this is a lightly populated ZIP code with a middle-aged community — the median age is 42.1 years. Economically, 47031 is a solidly middle-class ZIP code: the median household income of $67,520 is near the national average.
Real estate in ZIP code 47031 represents an affordable housing market. The median home value of $188,800 is below the national average. Renters can expect to pay around $939 per month in median rent. Homeownership is strong here — 77.6% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 23% since 2019.
The population of 47031 is primarily White (97.08%). Residents are moderately educated — 26.7% hold a bachelor's degree or higher, which is below the national average. Poverty affects some residents at 10.2%. Household income has grown by 16% since 2019.
The unemployment rate in 47031 stands at 5.2%, which is near the national average. As in most parts of the country, driving alone is the dominant commute mode at 80%.
Overall, ZIP code 47031 in Milan, IN is characterized as solidly middle-class, moderately educated, a middle-aged community, and predominantly owner-occupied. With 5,179 residents, a median household income of $67,520, and a median home value of $188,800, it offers a clear picture of life in this part of Indiana.