Real Estate Investing in Laurel, Indiana (47024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47024 (Laurel, 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: 8.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Laurel, IN (47024)?
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Market Analysis: 47024 Laurel
This part of Franklin County is not an easy win. The 47024 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $244K asset, 47024 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 47024 and stronger Laurel ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 47024 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 47024 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Laurel:
Property Strategy for 47024
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $168,087 | $1,330 | 5.7% | +8.2% | $84,044 |
| 3BR | $252,587 | $1,750 | 5.0% | +9.3% | $84,196 |
| 4BR | $316,438 | $1,760 | 4.0% | +7.9% | $79,110 |
Market Trends
Home Value History (with trend line)
📊 How Does 47024 Compare?
| Metric | 47024 | Laurel | Cincinnati, OH-KY-IN | Indiana |
|---|---|---|---|---|
| Home Value | $243,711 | $243,711 | N/A | $248,442 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 7.7% |
| Avg Rent | $1,197 | $1,197 | N/A | - |
| Cap Rate | 3.8% | 3.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47024 (Laurel, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $243,711 |
| Monthly Rent | $1,197 |
| Price-to-Rent | 17.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +7.9% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (3.8%). 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 47024
Population: 2,909
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
🎓 Schools in 47024
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Is vacancy a concern in Laurel, IN?
Expect elevated vacancy in Laurel, IN. Rents at $1,197/mo are absorbed by the tenant base without meaningful lag.
How strict are landlord regulations in Laurel, IN?
Laurel, IN operates under IN law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
How much rent can I charge in Laurel, IN?
Laurel, IN rentals go for roughly $1,197/mo a month. That puts gross yield in solid territory relative to $244K acquisition costs.
Can I house hack in Laurel, IN?
Laurel, IN offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,197/mo rent level.
How does Laurel, IN stack up for property investment?
Laurel, IN stands at an investability rating of 3.0/5, with median home values near $244K and average rents around $1,197/mo. That combination puts it in the sturdy tier for investor interest.
You know 47024 now. You don’t know where it ranks.
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How 47024 ranks in Cincinnati, OH-KY-IN
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