Freedom is an unincorporated community in western Franklin Township, Owen County, in the U.S. state of Indiana. It lies along U.S. Route 231, southwest of the city of Spencer, the county seat of Owen County. Its elevation is 538 feet, and it is located at 39°12′25″N 86°52′9″W / 39.20694°N 86.86917°W / 39.20694; -86.86917. Although Freedom is unincorporated, it has a post office, with the ZIP code of 47431.Freedom was laid out in 1834, at which time it was an important shipping point of flatboats. The community's name is derived from Joseph Freeland, an early settler. A post office has been in operation at Freedom since 1834.