Selma, IN—47383
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Selma, IN
As of Oct '25, the median home price in Selma, IN is $231,000, with a year-over-year change of 4.6%. This indicates that home prices in Selma, IN are increasing. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $231,000 | 4.6% |
| Single Family | $231,000 | 4.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $140,000 | 4.5% |
3 Bed | $222,000 | 4.2% |
4 Bed | $302,000 | 3.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Selma, IN
Selma, IN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,340 | $1,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,340 | $1,340 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Selma, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Selma, IN is 36. This is a increase of 31.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $201,000 | -43.0% |
Listing Count | 11 | 7.0% |
| Listings as % of Homes | 0.5% | 7.0% |
Days on Market | 36 | 31.0% |
Demographics — Selma, IN
As of the latest ACS Survey released in 2023, Selma, IN has a population of 2,560, which has decreased by -17.2% over the past 5 years. Selma, IN is a popular place for families, as children make up 27.5% of the population. The area has a poorly educated workforce, with 19.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,560 | -17.2% |
% Under 18 | 27.5% | 46.3% |
% Seniors | 22.6% | 58.0% |
% WFH | 1.1% | -90.4% |
% w/ College Degree | 19.7% | -4.4% |
As of the latest ACS Survey released in 2023, Selma, IN is a predominantly white area, with 95.3% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Selma, IN is hispanic, making up 1.5% of the population. Foreign-born residents account for 0.2% of the population in Selma, IN, and this percentage has decreased by 90.9% 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% | -0.6% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.5% | -53.1% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.2% | -90.9% |
Mortgage and Risk — Selma, IN
According to HUD data as of 2023, there were 130 mortgage originations in Selma, IN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Selma, IN. Investor activity is low, as 1.0% of loans were by investors. 22.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 130 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 22.0% |
Loan Activity
Rentals and Section 8 — Selma, IN
Selma, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $870 |
| 2 Bedroom | N/A | N/A | $1,070 |
| 3 Bedroom | $60 | $1,340 | $1,400 |
| 4 Bedroom | N/A | N/A | $1,630 |
Affordability — Selma, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $231,000 |
| Median Household Income | $59,700 |