Real Estate Investing in Boonville, Indiana (47601)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47601 (Boonville, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Boonville, IN (47601)?
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Market Analysis: 47601 Boonville
The 47601 ZIP in Boonville, IN is a local-operator market. Outside capital chasing a $233K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $233K asset, 47601 is the wrong submarket. If the plan prices in friction, the yield can still work.
On the rental side, 47601 offers a low basis, the region around Boonville has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 47601 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 47601 is an operator game, not a passive one. Turning to rents, entry prices of $233K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Boonville:
Property Strategy for 47601
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $117,480 | $790 | 4.8% | +5.4% | $117,480 |
| 2BR | $149,796 | $1,020 | 4.9% | +7.2% | $74,898 |
| 3BR | $228,426 | $1,260 | 4.0% | +7.0% | $76,142 |
| 4BR | $332,745 | $1,410 | 3.1% | +6.4% | $83,186 |
| 5BR | $429,404 | — | — | +6.4% | $85,881 |
Market Trends
Home Value History (with trend line)
📊 How Does 47601 Compare?
| Metric | 47601 | Boonville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $233,186 | $233,186 | N/A | $248,442 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 7.7% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 47601 (Boonville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $233,186 |
| Monthly Rent | $918 |
| Price-to-Rent | 21.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +8.2% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 (3.1%). 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 47601
Population: 13,119
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 47601
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
Frequently Asked Questions
Is Boonville, IN good for landlords?
The landlord environment in Boonville, IN is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What is the typical vacancy rate in Boonville, IN?
Vacancy risk in Boonville, IN is elevated. That supports consistent cash flow for typical rental holds.
Where do home prices stand in Boonville, IN?
Homes in Boonville, IN typically sell near $233K. Prices have moved at a 0.0% 5-year CAGR, which steady long-term demand.
Does a duplex house hack pencil in Boonville, IN?
Boonville, IN offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $918/mo rent level.
What is the typical renter like in Boonville, IN?
The tenant pool in Boonville, IN is solid, supported by local employment and population fundamentals. Rents of $918/mo are well-absorbed by the market.
You know 47601 now. You don’t know where it ranks.
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How 47601 ranks in Evansville, IN-KY
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