Bourbon, IN—46504
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bourbon, IN
As of Oct '25, the median home price in Bourbon, IN is $228,000, with a year-over-year change of -0.2%. This indicates that home prices in Bourbon, IN are flat. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $228,000 | -0.2% |
| Single Family | $228,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $171,000 | 0.0% |
3 Bed | $228,000 | 0.0% |
4 Bed | $256,000 | 0.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Bourbon, IN
Bourbon, IN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Bourbon, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Bourbon, IN is 25. This is a decrease of -45.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $187,000 | -31.0% |
Listing Count | 7 | 31.0% |
| Listings as % of Homes | 0.2% | 31.0% |
Days on Market | 25 | -45.0% |
Demographics — Bourbon, IN
As of the latest ACS Survey released in 2023, Bourbon, IN has a population of 3,390, which has decreased by -7.6% over the past 5 years. Bourbon, IN is a popular place for families, as children make up 28.5% of the population. The area has a poorly educated workforce, with 15.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,390 | -7.6% |
% Under 18 | 28.5% | 0.7% |
% Seniors | 11.4% | -14.3% |
% WFH | 5.0% | -9.1% |
% w/ College Degree | 15.9% | -1.9% |
As of the latest ACS Survey released in 2023, Bourbon, IN is a predominantly white area, with 91.5% of the population identifying as white. The white population has grown by 3.4% in the last 5 years. The second most common race or ethnicity in Bourbon, IN is hispanic, making up 4.4% of the population. Foreign-born residents account for 1.2% of the population in Bourbon, IN, and this percentage has decreased by 7.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.5% | 3.4% |
% Black | 1.2% | -14.3% |
% Hispanic | 4.4% | 2.3% |
% Asian | 0.8% | 100.0% |
% Foreign Born | 1.2% | -7.7% |
Mortgage and Risk — Bourbon, IN
According to HUD data as of 2023, there were 56 mortgage originations in Bourbon, IN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Bourbon, IN. Investor activity is low, as 0.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 56 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Bourbon, IN
Bourbon, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 23 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,160 |
| 4 Bedroom | N/A | N/A | $1,230 |
Affordability — Bourbon, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $228,000 |
| Median Household Income | $83,700 |