47224 — Canaan, IN Home Values
Typical home value $346,811 as of June 2026 · 1st of 6 in Madison, IN
Blue: typical home value (Zillow ZHVI) in ZIP code 47224, June 2021 to June 2026. This page shows observed data only; no forecast.
How 47224 compares in the Madison, IN area
ZIP code 47224 (Canaan, IN) has a typical home value of $346,811 as of June 2026, ranking 1st of 6 ZIP codes tracked in the Madison, IN area, the most expensive ZIP code in the metro. Prices here have moved +9.2% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +42.8%, from $242,825 in June 2021 to $346,811 in June 2026.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Madison, IN forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Madison.
Population and demographics
ZIP code 47224 has a population of 396, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 100% White.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Canaan Community Academy | 8775 N Canaan Main St, Canaan, IN | 4.1 mi |
| Rykers' Ridge Elementary School | 2485 N Rykers' Ridge Rd, Madison, IN | 9.8 mi |
| South Ripley Junior High School | 1589 S Benham Rd, Versailles, IN | 11.2 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 47224?
$346,811 as of June 2026, the latest month Zillow has published observed data for.
Is 47224 an expensive ZIP code in the Madison, IN area?
47224 ranks 1st of 6 ZIP codes in the Madison, IN area by typical home value, the most expensive ZIP code in the metro.
How much have home values in 47224 changed over the past year?
+9.2% over the trailing 12 months, from observed Zillow data.
What is the population of ZIP code 47224?
396, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 47224?
Canaan Community Academy (4.1 mi), Rykers' Ridge Elementary School (9.8 mi), South Ripley Junior High School (11.2 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 47224?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Madison, IN forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.