47431 Zip Code Income, Population and Demographics
Are you tired of spending 10+ hours searching for demographic and population data for the 47431 zip code? We have all of the data you need by state, county, city, and zip code that will save you many hours of research!
In this article, we'll explore most of the 190+ data points we have for 47431, covering popular demographics statistics like household income, race, age and gender, educational attainment, poverty, housing, and transportation.
47431 is a zip code in Owen County, Indiana, which covers Franklin, Jefferson, Lafayette, and Marion, with a total population of 1,463 people.
Median Household Income
According to the latest ACS 5-year survey in 2020, the median household income in 47431 is $55,184.00.
The chart below shows the average household income by age in 47431.
25 to 44$63,063.00
45 to 64$33,542.00
65 and over$56,574.00
Average Household Income
A very commonly asked question is "what is the average household income in the 47431 zip code?". The official term for the average household income is the mean household income. The mean household income is the total income of all households divided by the number of households.
The average (or mean) household income in 47431 is $78,513.00.
6.19% of households in the 47431 zip code are classed as high income households (making $200,000+ per year).
The difference between a median and an average income
The difference between a median and mean household income is that the median income is the middle point of the set of numbers whereas the mean income is an average of all numbers.
Both metrics are important when looking at the income statistics for 47431 but because the median value doesn't depend on other numbers in the dataset, it doesn't change as much when some of the values are extremely low or extremely high.
Household Income Tiers for 47431
We can also look at the household income tiers. This lets you see how many households fall into each of the earnings brackets and what percentage that bracket is of the total number of households.
The chart below shows the household income brackets to see which age groups have the highest median income. The actual data is more granular than these brackets, but we've simplified them into bigger categories to make reviewing the data for the 47431 zip code easier to view.
You can purchase the raw data above, which will have the full income tiers with smaller jumps in household income.
Less than $24,99914.16%
$25,000 to $49,99935.40%
$50,000 to $74,99913.27%
$75,000 to $99,99917.70%
$100,000 to $149,99913.27%
$150,000 to $199,9990.00%
$200,000 or more6.19%
Per Capita Income
The per capita income is the average income of all people in the 47431 zip code. This is calculated by dividing the total income of all people in 47431 by the total number of people in 47431.
It differs from the average or mean household income because it includes all people in 47431 and not just the people who earn an income (i.e. children, retirees, unemployed, etc.).
The per capita income in the 47431 zip code is $30,496.00.
Population in 47431 by Race and Ethnicity
The total population in 47431 is currently 1,463 people.
The race and ethnicity of the population in 47431 can be very important for social research, economics, and marketing to a multi-culturial society.
Whether you want to target products or services to a particular race or ethnicity, or provide housing and new businesses to improve areas with a larger ethnic minority population, this data is very valuable for discovering suitable areas.
The chart below breaks down the population and percentage for each race and ethnicity in the 47431 zip code.
0.00% Black/African American0
0.00% Hawaiian/Pacific Islander0
4.40% Two or more races65
Population of 47431 by Age and Gender
Another very important demographics statistic for the 47431 zip code is the age and gender of the population. The age and gender of the population can be used to track trends in population growth or decline, and for businesses, the data can be used to identify people important to you and your business need.
In the table below, we show age groups at a 10 year granularity for ease of use. The raw data, which can be purchased above, includes age and gender at a 5 year granularity.
|0 to 9 Years||107||78|
|10 to 19 Years||151||42|
|20 to 29 Years||35||76|
|30 to 39 Years||114||63|
|40 to 49 Years||39||64|
|50 to 59 Years||161||87|
|60 to 69 Years||98||74|
|70 Years and over||148||126|
Educational attainment is a very useful statistic that can give insights into other data such as the average household income, unemployment levels, and literacy.
What this means is that it is likely for areas that have higher levels of education to have higher average household incomes, lower unemployment rates, and higher literacy rates.
The chart below shows the educational attainment of the population in the 47431 zip code.
Master's degree or higher8.69%
Some college or associate's degree17.38%
High school diploma or equivalent49.29%
Less than high school diploma7.45%
The unemployment rate is the percentage of the population that is actively looking for work but is unable to find a job. The unemployment rate is a very important statistic for 47431 because it can show how many people are actively looking for work and how many people are unable to find a job.
Lower levels of unemployment is generally seen as a positive sign for the economy. It also makes the government in 47431 look good because it shows that they are doing a good job of creating jobs, working to capacity, being efficient, and keeping the economy strong.
The unemployment rate is calculated using the total population in the 47431 zip code that are over the age of 16.
The current population in 47431 that are over the age of 16 is 1,150 people.
The unemployment rate in 47431 is 47.70%, which means 549 people are unemployed.
Median Age in 47431
The median age is an interesting metric because it gives us an idea of the age distribution of people in the 47431 zip code. You know when you see a median age that it is the age where half of the population is older and half is younger than it.
For demographic studies, this can be used to infer and compare date to things such as birth rates, the age of parents, and so on.
An increasing median age can be a sign of an aging population, which can be a sign of a declining population. This is because older people tend to have fewer children and die more often than younger people.
The median age in 47431 is 46.4 years old.
We can also look at the median age by gender to compare the see how each group compares to the total median age:
Median age by gender in 47431
Households and Families
There are a total of 565 households in 47431, and the average household size is 2.59 people.
For families, the total number is 380, and the average family size is 2.95 people.
13.40% of those families in the 47431 zip code are living below the poverty line.
The table below shows the poverty thresholds for 47431 in 2022.
|Household Size||Poverty Threshold|
Please note that the poverty thresholds shown above are from 2022, while the latest demographics data we have is from 2020.
Households and Families by Marital Status
There are four types of household and family, as defined by the Census Bureau:
- Male householder, no spouse present
- Female householder, no spouse present
- Nonfamily household
In the table below, you can see the total households and families in the 47431 zip code for each type, as well as the average sizes.
|Average Household Size||2.72||2.05||5.72||1.71|
|Average Household Size||2.72||1.68||5.48||0|
Housing Data in 47431
There are total of 658 housing units in the 47431 zip code. Of those units, 565 (85.87%) are occupied, and 93 (14.13%) are vacant.
Of the 658 housing units in 47431, 41 (6.23%) are occupied by renters. The median rent paid by renters is $0.00.
Owner occupied housing units make up the remaining 78.12% of housing units, with 514 housing units in total.
The table below breaks down how much rent is paid by renters in the 47431 zip code.
No rent paid10
Less than $5000
$500 to $99919
$1,000 to $1,49922
$1,500 to $1,9990
$2,000 to $2,4990
$2,500 to $2,9990
$3,000 or more0
The median value of a property in 47431 is $103,500.00.
The table below breaks down the range of valuations for all properties in 47431.
Less than $50,000104
$50,000 to $99,999145
$100,000 to $149,99977
$150,000 to $199,99955
$200,000 to $299,99925
$300,000 to $499,99994
$500,000 to $999,99914
$1,000,000 or more0
We can also look at the number of properties built in a given year to see the spread of property age in the 47431 zip code.
1939 or earlier111
1940 to 19490
1950 to 195931
1960 to 196971
1970 to 197981
1980 to 198937
1990 to 1999162
2000 to 2009150
2010 to 201315
2014 or later0
Vehicles Available per Household
Finally, we have data on how many vehicles each household in 47431 has. The table below breaks down the number of vehicles available per household.
No vehicles available0
1 vehicle available128
2 vehicles available214
3 or more vehicles available223
Commuting to Work in 47431
The time and means of commuting to work are useful metrics to look at because they can be correlated against other data such as income and education level.
Does a longer commuting time indicate a higher average income? If so, has the huge increase in home working during the pandemic changed this?
Using these metrics, we can get a better understanding of the demographics of the 47431 zip code, how they commute, and how that correlates to other data points.
The average travel time is 34.7 minutes, and the chart below covers the range of travel times across the population of 47431.
Less than 5 minutes51
5 to 9 minutes0
10 to 14 minutes0
15 to 19 minutes36
20 to 24 minutes69
25 to 29 minutes31
30 to 34 minutes67
35 to 39 minutes27
40 to 44 minutes66
45 to 59 minutes121
60 to 89 minutes66
90 or more minutes0
We can also look at the means of transport in 47431 to see which modes of transport people are using to commute to work.
Worked from home36
Hopefully this article has given you the demographics data you were looking for in the 47431 zip code.
If you need more demographics data, or you need the data listed above in spreadsheet form with more granular grouping, head back to the top of this page where you can purchase the complete demographics data for 47431.
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"47431 Zip Code Income, Population and Demographics". NameCensus.com. Accessed on October 4, 2022. https://namecensus.com/demographics/indiana/47431/.
"47431 Zip Code Income, Population and Demographics". NameCensus.com, https://namecensus.com/demographics/indiana/47431/. Accessed 4 October, 2022
47431 Zip Code Income, Population and Demographics. NameCensus.com. Retrieved from https://namecensus.com/demographics/indiana/47431/.