Indianapolis, IN housing market
Typical home value
$227K
▼ 0.9% 1 yr
Typical rent
$1,375/mo
▲ 2.5% 1 yr
Gross rent yield
7.3%
U.S. 6.3%
5-year home value change
+20%
U.S. +20%
Key takeaways
- 1The typical home in Indianapolis is worth $227,445, down 0.9% over the past year and up 20% over five years.
- 2Typical rent is $1,375 a month (+2.5% YoY), a gross rent yield of 7.3% (above the Indianapolis, IN metro's 6.3%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,250/mo, $125 less than typical rent.
- 4Zillow forecasts the Indianapolis, IN metro's home values to change +1.9% over the next 12 months.
Market temperature (Indianapolis, IN metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 31/100, #424 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Indianapolis compares
| Measure | Indianapolis | Indianapolis, IN metro | United States |
|---|---|---|---|
| Typical home value | $227,445 | $291,634 | $366,157 |
| Home value, 1-yr change | −0.9% | +1.0% | +1.2% |
| Typical rent | $1,375 | $1,528 | $1,932 |
| Rent, 1-yr change | +2.5% | +3.5% | +2.7% |
| Gross rent yield | 7.3% | 6.3% | 6.3% |
| Price-to-rent ratio | 13.8 | 15.9 | 15.8 |
| Mortgage P&I, typical home | $1,250 | $1,603 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Indianapolis rental, pre-filled.
Rent vs buy in Indianapolis
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $227K home.
Other cities in the Indianapolis, IN metro
Fishers, IN
$445K home$1,938 rent
▲ 1.7% 1 yr
Carmel, IN
$575K home$1,864 rent
▲ 4.5% 1 yr
Greenwood, IN
$326K home$1,554 rent
▲ 1.1% 1 yr
Noblesville, IN
$392K home$1,692 rent
▲ 2.0% 1 yr
Anderson, IN
$133K home$1,088 rent
▲ 1.1% 1 yr
Lawrence, IN
$267K home$1,540 rent
▲ 0.2% 1 yr
Avon, IN
$355K home$1,882 rent
▲ 1.3% 1 yr
Brownsburg, IN
$358K home$1,868 rent
▲ 1.4% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.