Real Estate Investing in Florence, Indiana (47020)
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Should you buy in 47020 (Florence, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.6% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 25.4 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Florence, IN (47020)?
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Market Analysis: 47020 Florence
The 47020 ZIP covers a section of Florence that demands careful diligence. Prices near $269K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 47020 can be a a strong candidate for hunting ground — but the discount at $269K reflects genuine risk that outside investors often underestimate.
In the broader IN picture, 47020 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
From an investor standpoint, 1,164 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. impressive returns are possible in 47020, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Florence:
Market Trends
Home Value History (with trend line)
📊 How Does 47020 Compare?
| Metric | 47020 | Florence | Indiana |
|---|---|---|---|
| Home Value | $268,776 | $268,776 | $248,442 |
| 5-Year CAGR | 7.9% | 7.9% | 7.7% |
| Avg Rent | $882 | $882 | - |
| Cap Rate | 2.6% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47020 (Florence, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $268,776 |
| Monthly Rent | $882 |
| Price-to-Rent | 25.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.6% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +10.4% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +7.9% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 47020
Population: 1,164
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
How does Florence, IN rate as a rental market?
Florence, IN scores 3.0/5 for investability. Home values sit at $269K and rents near $882/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Which real estate strategy fits Florence, IN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Florence, IN. The numbers - $269K homes against $882/mo rents - support that play.
What is the tenant pool like in Florence, IN?
Expect a solid tenant pool in Florence, IN. The rental market absorbs $882/mo rents without meaningful friction.
Do rentals sit vacant long in Florence, IN?
Rental vacancy in Florence, IN is elevated. Investors should budget normal turnover but not chronic empty units.
Is IN a landlord-friendly state?
Landlord-friendliness in Florence, IN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
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