Indianapolis, Indiana.
Typical home $185,602 (-0.9% in a year), asking rent $1,375 (+2.4%). Indianapolis-Carmel-Anderson, IN metro.
to buy the typical home at today's mortgage rate — +$508 (+109%) since Jan 2020.
- 1 year
- Down $1,599 -1%
- $187,202$185,602 since Sep 2025
- 5 years
- Up $26,872 +17%
- $158,730$185,602 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Indianapolis$974
- Indiana$1,201
- United States$1,811
At the last five years' pace, a typical home here doubles in price every 22 years.
Typical home values in Indianapolis, IN fell 0.9% over the past year — slower than the nation's +1.2%.
Asking rents in Indianapolis, IN rose 2.4% over the past year — slower than the nation's +2.7%.
Owning the typical home in Indianapolis runs $62/mo less than renting one. The gap peaked at $287 in Oct 2020.
That is $1,313 a month against $1,375 rent: a $974 mortgage payment, plus $140 property tax and $199 insurance & upkeep.
Owning vs renting — Indianapolis
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$1,313
- Renting$1,375
- Mortgage only$974
Property tax · $140/mo 0.91% of value a year — the ACS 2020-2024 median bill over the median home value for Marion County, IN
Insurance & upkeep · $199/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Indianapolis, Marion County, Indiana
Indianapolis is a city of 887,642 people in Marion County. Half its households earn more than $66,219 a year and half less, against $66,346 across Marion County; 16% of its people live below the poverty line. 56% of its homes are lived in by their owners and 44% are rented. Unemployment in Indianapolis was 3.6% in August 2026, and Marion County had 0.1% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Indianapolis is Indiana's capital and by far its largest city, home to a large population spread across a wide mix of neighborhoods. Residents are younger than in many American cities, and incomes sit very close to the county's. A majority of homes are lived in by their owners, though rentals are common too. Winters are cold, with January highs hovering just above freezing, and summers are warm, with July the hottest month. Rain and melted snow fall steadily through the year.
Work. Many residents work in schools, hospitals and social care, in professional and business services, in shops, and in manufacturing. Among the largest workplaces in Indianapolis are Indiana University Health, Indiana University-Indianapolis and the Lilly Technology Center. Jobs across Marion County have held roughly steady lately, and the typical commute is a moderate one, with some residents working from home.
Things to do. The Indianapolis Motor Speedway, a race track, is a short drive away. In or beside town are Lucas Oil Stadium, a stadium, and The Children's Museum of Indianapolis, a museum. The Indianapolis Zoo is also in or beside town, which makes for an easy day out.
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- 362,961households
- 35%of adults have a degree
- 16%below the poverty line
- 25 mintypical commute
- 14%work from home
What residents work in
Employed residents by industry, from the Census survey. Marion County had 625,109 jobs in 2025, 0.1% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 34° and lows near 19°; warmest in July, with highs near 84° and lows near 64°. About 45 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Indianapolis Southeast Side weather station, 6 miles away (NOAA).
Largest employers in Indianapolis
- IU Health26,177
- Ascension St. Vincent17,398
- Community Health Network16,280
- IU Indianapolis14,000
- Eli Lilly and Company13,298
- Walmart10,193
- Kroger Co.8,014
- FedEx5,800
From the City of Indianapolis’ annual financial report for 2025, its schedule of principal employers (its source: “Largest employers obtained from Indy Partnership”), as Indiana’s State Board of Accounts publishes it: the report. Employees as the report counts them.
Natural hazards
- Heat wavesRelatively moderate
- Tornadoesrelatively high in parts of IndianapolisRelatively moderate
- Cold wavesrelatively high in parts of IndianapolisRelatively moderate
- Strong windRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Indianapolis’ census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Marion County and the Indianapolis-Carmel-Anderson, IN metro.
Indianapolis home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Indianapolis$185,602
- Indiana$228,794
- United States$344,990
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Indianapolis listings, and the typical home goes pending in 22 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Indianapolis36.13%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Indianapolis22
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Indianapolis4,186
New listings per month
Sellers arriving at the market.
- Indianapolis1,231
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Indianapolis$240,567
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Indianapolis97.99%
Zip codes with a Indianapolis address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Indianapolis — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Indianapolis
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 46227 | Indianapolis | 57,587 | $1,296 | $223,613 |
| 46226 | Indianapolis | 47,099 | $1,197 | $158,662 |
| 46237 | Indianapolis | 43,473 | $1,728 | $256,945 |
| 46254 | Indianapolis | 40,674 | $1,230 | $220,411 |
| 46222 | Indianapolis | 38,887 | $1,208 | $120,090 |
| 46219 | Indianapolis | 38,855 | $1,053 | $182,872 |
| 46203 | Indianapolis | 37,758 | $1,458 | $164,406 |
| 46220 | Indianapolis | 36,952 | $1,440 | $341,779 |
| 46217 | Indianapolis | 36,917 | $1,613 | $254,781 |
| 46235 | Indianapolis | 36,317 | $1,781 | $216,047 |
| 46260 | Indianapolis | 35,707 | $1,229 | $303,708 |
| 46239 | Indianapolis | 33,931 | $1,985 | $292,364 |
| 46241 | Indianapolis | 32,565 | $1,369 | $154,719 |
| 46201 | Indianapolis | 30,335 | $1,221 | $149,543 |
| 46218 | Indianapolis | 29,360 | $1,233 | $112,021 |
| 46229 | Indianapolis | 28,457 | $1,678 | $217,011 |
| 46234 | Indianapolis | 28,300 | $1,992 | $278,720 |
| 46205 | Indianapolis | 28,259 | $1,296 | $257,419 |
| 46221 | Indianapolis | 27,027 | $1,389 | $204,818 |
| 46268 | Indianapolis | 25,913 | $1,498 | $251,555 |
| 46214 | Indianapolis | 24,472 | $1,222 | $229,417 |
| 46208 | Indianapolis | 22,379 | $1,363 | $170,261 |
| 46256 | Indianapolis | 20,990 | $1,168 | $342,629 |
| 46202 | Indianapolis | 20,180 | $1,457 | $346,327 |
| 46240 | Indianapolis | 19,595 | $1,504 | $364,930 |
| 46250 | Indianapolis | 18,147 | $1,333 | $324,597 |
| 46113 | Camby | 17,192 | $1,935 | $276,013 |
| 46228 | Indianapolis | 15,724 | $1,565 | $266,229 |
| 46259 | Indianapolis | 15,169 | $2,175 | $374,902 |
| 46204 | Indianapolis | 11,400 | $1,682 | $345,032 |
| 46231 | Indianapolis | 10,371 | $2,080 | $252,408 |
| 46278 | Indianapolis | 8,450 | — | $428,036 |
| 46225 | Indianapolis | 6,037 | $1,392 | $168,812 |