Broom Hill, IN—47106
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Broom Hill, IN
As of Oct '25, the median home price in Broom Hill, IN is $296,000, with a year-over-year change of 4.8%. This indicates that home prices in Broom Hill, IN are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $296,000 | 4.8% |
| Single Family | $296,000 | 5.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $185,000 | 6.3% |
3 Bed | $279,000 | 4.9% |
4 Bed | $381,000 | 4.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Broom Hill, IN
Broom Hill, IN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $2,100 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $3,000 | $3,000 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Broom Hill, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Broom Hill, IN is 47. This is a decrease of -21.0% 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 | $399,000 | 52.0% |
Listing Count | 21 | 86.0% |
| Listings as % of Homes | 0.4% | 86.0% |
Days on Market | 47 | -21.0% |
Demographics — Broom Hill, IN
As of the latest ACS Survey released in 2023, Broom Hill, IN has a population of 4,580, which has decreased by -4.3% over the past 5 years. Broom Hill, IN is a moderately popular place for families, as children make up 23.4% of the population. The area has a poorly educated workforce, with 19.6% 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 | 4,580 | -4.3% |
% Under 18 | 23.4% | -10.7% |
% Seniors | 16.9% | 15.8% |
% WFH | 5.0% | 35.1% |
% w/ College Degree | 19.6% | -3.9% |
As of the latest ACS Survey released in 2023, Broom Hill, IN is a predominantly white area, with 95.3% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Broom Hill, IN is black, making up 0.6% of the population. Foreign-born residents account for 0.2% of the population in Broom Hill, IN, and this percentage has decreased by 60.0% 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 | 95.3% | -4.0% |
% Black | 0.6% | 500.0% |
% Hispanic | 0.2% | -60.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.2% | -60.0% |
Mortgage and Risk — Broom Hill, IN
According to HUD data as of 2023, there were 193 mortgage originations in Broom Hill, IN, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Broom Hill, IN. Investor activity is low, as 1.0% 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 | 193 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Broom Hill, IN
Broom Hill, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $970 |
| 2 Bedroom | -$20 | $1,200 | $1,180 |
| 3 Bedroom | -$1,460 | $3,000 | $1,540 |
| 4 Bedroom | N/A | N/A | $1,760 |
Affordability — Broom Hill, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $296,000 |
| Median Household Income | $87,400 |