ZIP Code Market Report
47224 — Madison, IN
Data through February 2026 · Updated monthly
Avg Home Value
$326,750
▲ 9.2% year-over-year
Month-over-Month
-1.0%
▼ 1.0%
Single Family
$322,845
Condo / Co-op
--
The average home value in the 47224 ZIP code (Madison, Indiana) is $326,750 as of February 2026. Home prices are rising, up 9.2% compared to last year.
The market in 47224 has a $315,533 spread between bottom-tier homes at $198,522 and top-tier homes at $514,056. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 47224 ZIP code will increase 1.3% over the next 12 months, bringing the projected average to approximately $330,998. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Jefferson County market area in Indiana. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Jefferson County report.
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Market Snapshot
47224 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $329,577 | $330,131 | $326,750 | ▼ 0.9% |
| Single Family Value | $317,016 | $320,700 | $322,845 | ▲ 1.8% |
Home Values
47224 Home Value Trend
Historical home values for ZIP code 47224. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Property Types
Home Values by Property Type in 47224
How different property types compare in this ZIP code.
All Homes
$326,750
Single Family
$322,845
Bottom Tier
$198,522
Top Tier
$514,056
Forecast
12-Month Home Value Forecast for 47224
Zillow projects home values in 47224 will increase 1.3% over the next year, reaching approximately $330,998.
Current Value
$326,750
Projected Change
+1.3%
▲ 1.3%
Projected Value
$330,998
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 47224 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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