Quick facts: Springport, IN

Quick Facts

95.3
Cost of Living
below US average
134
Population
186.57
Crime Rate per 1000
above US average
$65,417
Median Income
below US average
$235,000
Median House Price
above US average
$1317
Average Rent
below US average
12%
Poverty Rate
above US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $65,417.

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Income Needed to Buy

βœ— Stretch
$74k/year
Based on $235,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $74k vs median $65,417
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1317/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($65,417) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Springport, IN

Springport is a small town located in the heart of Indiana, specifically in Henry County. With a population of around 500 residents, it offers a close-knit community atmosphere. The town is characterized by its quaint rural charm and is surrounded by farmland, making it a peaceful place to live. Springport is well-positioned near larger towns such as New Castle and Muncie, providing convenient access to shopping, dining, and additional amenities. The area is known for its friendly community spirit and hosts local events that bring residents together. Outdoor enthusiasts can enjoy nearby parks and recreational spots, with opportunities for hiking and nature exploration. The town has a few local businesses, schools, and churches that cater to the community's needs. Education is provided by local school districts, emphasizing a strong sense of community involvement in the upbringing of children. Overall, Springport offers a quiet, rural lifestyle with easy access to larger urban centers, making it an appealing place for those seeking tranquility while being within reach of more bustling areas.

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