Real Estate Investing in Parker City, Indiana (47368)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47368 (Parker City, 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.
- High vacancy: 17.9% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Parker City, IN (47368)?
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Market Analysis: 47368 Parker City
ZIP 47368 inside Randolph County looks affordable on the surface — median value of $180K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 47368 is notable only for operators who understand what they are buying. A $180K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Turning to rents, 47368 offers a low basis, the region around Parker City has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
On the rental side, 2,118 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.
Experienced landlords with local relationships tend to find 47368 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Parker City:
Property Strategy for 47368
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $120,712 | $960 | 5.7% | +10.1% | $60,356 |
| 3BR | $171,427 | $1,260 | 5.3% | +8.9% | $57,142 |
| 4BR | $245,752 | $1,350 | 4.0% | +7.7% | $61,438 |
Market Trends
Home Value History (with trend line)
📊 How Does 47368 Compare?
| Metric | 47368 | Parker City | Muncie, IN | Indiana |
|---|---|---|---|---|
| Home Value | $180,314 | $180,314 | N/A | $248,442 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
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 47368 (Parker City, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $180,314 |
| Monthly Rent | $864 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.7% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +10.5% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 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 (3.7%). 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 47368
Population: 2,118
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 47368
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,042 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Parker City, IN?
The median home value in Parker City, IN is roughly $180K. That puts it reasonable relative to the IN statewide average.
What is the tenant pool like in Parker City, IN?
Expect a solid tenant pool in Parker City, IN. The rental market absorbs $864/mo rents without meaningful friction.
Is real estate in Parker City, IN a good investment right now?
Parker City, IN scores 3.0/5 for investability. Home values sit at $180K and rents near $864/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is Parker City, IN landlord-friendly?
IN ranks as a landlord-friendly state for landlord-tenant law. Parker City generally follows the statewide framework, so landlords face reasonable operating rules.
Should investors worry about vacancy in Parker City, IN?
Parker City, IN sees elevated vacancy, which is reasonable relative to the broader IN rental market.
You know 47368 now. You don’t know where it ranks.
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How 47368 ranks in Muncie, IN
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