Nursing Care Facilities Market: ZIP 47338
Opportunity Score
48
/ 100
Fair
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 47338 is an urban area. with a population of 2,378 and household incomes near the national median ($62,064).
Area Profile
2,378
Population
$62,064
Median Income
-17% vs. national
Urban
Area Type
Median Age: 45.0 —
older demographic, may prefer sit-down options.
College-Educated: 9.9% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$930
2BR Fair Market Rent
$686
Median Gross Rent
$100 K
Median Home Value
Tips for Starting a Elder Care Business in Indiana
- 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.
Quick Facts
- Area Type
- Urban
vs. National Average
Median Income
-17% vs. $74,580
Nearby Markets
47303
5.6 mi
Pop: 24,115
$42,556
Walk: 8.3
47320
6.6 mi
Pop: 4,486
$68,244
47348
8.5 mi
Pop: 8,986
$44,198
Walk: 7.4
47336
9.5 mi
Pop: 2,793
$50,381
Walk: 7.2
47306
10.5 mi
Pop: 3,866
Walk: 8.3
47305
10.8 mi
Pop: 3,570
$33,125
Walk: 10.4
47304
11.2 mi
Pop: 31,432
$67,756
Walk: 8.9
46957
11.6 mi
Pop: 493
$46,875
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits