ElderCareCost
Showing results for ZIP 47170 (IN)
Home ZIP 00631

Nursing Care Facilities Market: ZIP 00631

Opportunity Score
15 / 100 Challenging
Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 00631 is an rural area with low foot traffic. with a population of 1,357 and household incomes below the national median ($18,295).

Area Profile

1,357
Population
$18,295
Median Income
-75% vs. national
Rural
Area Type
2.3/20
Foot Traffic
Very Car-Dependent
Median Age: 47.3 — older demographic, may prefer sit-down options.
College-Educated: 25.8% — balanced market for quality & value.

Operating Costs

Local cost levels affect space, labor, and operating expenses.

$480
2BR Fair Market Rent
$336
Median Gross Rent
$100 K
Median Home Value

Tips for Starting a Elder Care Business in ZIP 00631

  • State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
  • Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
  • Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
  • Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
  • Median income sits at $18,295. Price sensitivity is real. Build your model around volume or keep overhead minimal.

Data sources

U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits