| ZIP Code | 47431 |
|---|---|
| City | Freedom |
| State | Indiana (IN) |
| County | Owen County |
| Area Code | 812/930 |
| Elevation | 665 ft |
| Latitude | 39.245174 |
|---|---|
| Longitude | -86.915415 |
| Timezone | Indiana/Indianapolis (DST) |
| FIPS | 18119 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 35.0 yrs ↓ 25% since 2019 |
|---|---|
| Avg Household Size | 3.05 |
| Below Poverty | 16.1% ▲ 61% above avg |
| College Grads | 25.5% ▼ 34% below avg |
| Unemployment | 1.4% ▼ 72% below avg |
| No HS Diploma | 22 (2.6%) |
| HS Graduate | 355 (41.7%) |
| Some College | 166 (19.5%) |
| Associates | 91 (10.7%) |
| Bachelors | 126 (14.8%) |
| Graduate Degree | 91 (10.7%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $58,826 ▼ 23% below avg ↑ 18% since 2019 |
|---|---|
| Median Home Value | $135,600 ▼ 51% below avg ↑ 28% since 2019 |
| Home/Income Ratio | 2.3x (nat avg ~3.5x) |
| Median Rent | $730/mo |
| Total Units | 571 |
| Vacant Units | 112 |
| Avg HH Size | 3.05 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 571 |
|---|---|
| Vacant | 112 |
| Owner Occupied | 85.0% |
| Renter Occupied | 15.0% |
| Avg HH Size | 3.05 |
ZIP code 47431 is located in Freedom, Indiana, within Owen County. With a population of 1,401, this is a sparsely populated ZIP code with a relatively young community — the median age is 35 years. Economically, 47431 is a solidly middle-class ZIP code: the median household income of $58,826 is below the national average.
Real estate in ZIP code 47431 represents one of the more affordable housing markets in the country. The median home value of $135,600 is well below the national average. Renters can expect to pay around $730 per month in median rent. Homeownership is strong here — 85.0% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 28% since 2019.
The population of 47431 is primarily White (93.65%). Residents are moderately educated — 25.5% hold a bachelor's degree or higher, which is below the national average. Poverty affects some residents at 16.1%. Household income has grown by 18% since 2019.
The unemployment rate in 47431 stands at 1.4%, which is well below the national average. As in most parts of the country, driving alone is the dominant commute mode at 88%.
Overall, ZIP code 47431 in Freedom, IN is characterized as solidly middle-class, moderately educated, a relatively young community, and predominantly owner-occupied. With 1,401 residents, a median household income of $58,826, and a median home value of $135,600, it offers a clear picture of life in this part of Indiana.