Indianapolis housing market
Typical home value
$292K
▲ 1.0% 1 yr
Typical rent
$1,528/mo
▲ 3.5% 1 yr
12-month forecast
+1.9%
#286 of 546 metros
Gross rent yield
6.3%
#221 of 546 · U.S. 6.3%
Days to pending
40 days
▲ +5 days 1 yr
Listings with a price cut
36%
▲ +0.1 pts 1 yr
Key takeaways
- 1The typical home is worth $291,634, up 1.0% in a year and up 23% over five years.
- 2Zillow forecasts home values rising 1.9% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,528/mo (+3.5% YoY), a 6.3% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,603/mo in principal and interest, $75 more than renting.
- 5Homes go under contract in 40 days (+5 days vs last year); 36% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Indianapolis compares
| Measure | Indianapolis | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +1.0% | +1.2% | #369 |
| Home value, 5-yr change | +22.6% | +19.7% | |
| 12-month forecast | +1.9% | +1.1% | #286 |
| Rent, 1-yr change | +3.5% | +2.7% | #250 |
| Gross rent yield | 6.3% | 6.3% | #221 |
| Price-to-rent ratio | 15.9 | 15.8 | |
| Mortgage P&I on typical home | $1,603 | $2,012 | |
| Income needed to buy | $81,558 | $100,902 | |
| Days to pending | 40 | 56 |
Cities in the Indianapolis metro
15 cities with home value and rent data.
| Indianapolis | $227K | ▼ 0.9% | $1,375 | ▲ 2.5% | 7.3% |
| Fishers | $445K | ▲ 1.7% | $1,938 | ▲ 5.2% | 5.2% |
| Carmel | $575K | ▲ 4.5% | $1,864 | ▲ 9.5% | 3.9% |
| Greenwood | $326K | ▲ 1.1% | $1,554 | ▲ 3.2% | 5.7% |
| Noblesville | $392K | ▲ 2.0% | $1,692 | ▲ 5.6% | 5.2% |
| Anderson | $133K | ▲ 1.1% | $1,088 | ▲ 2.9% | 9.8% |
| Lawrence | $267K | ▲ 0.2% | $1,540 | ▲ 4.1% | 6.9% |
| Avon | $355K | ▲ 1.3% | $1,882 | ▲ 2.4% | 6.4% |
| Brownsburg | $358K | ▲ 1.4% | $1,868 | ▲ 4.6% | 6.3% |
| Westfield | $476K | ▲ 3.2% | $1,922 | ▲ 5.5% | 4.8% |
| Plainfield | $334K | ▲ 1.6% | $1,722 | ▲ 3.0% | 6.2% |
| Franklin | $282K | ▲ 2.1% | $1,687 | ▲ 4.5% | 7.2% |
| Greenfield | $289K | ▲ 1.6% | $1,666 | ▲ 6.4% | 6.9% |
| Zionsville | $704K | ▲ 6.5% | $1,879 | ▲ 7.3% | 3.2% |
| Whitestown | $363K | ▲ 0.7% | $2,133 | ▲ 7.2% | 7.1% |
Run the numbers
Rental property calculator
Cash flow on a typical Indianapolis rental ($292K, $1,528/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Indianapolis home.
Rent vs buy
Is it cheaper to rent or buy in Indianapolis?
Other Indiana metros
Fort Wayne, IN
$257K home$1,266 rent5.9% yield
▲ 3.6% 1 yr
South Bend, IN
$238K home$1,258 rent6.4% yield
▲ 6.3% 1 yr
Evansville, IN
$225K home$1,098 rent5.8% yield
▲ 3.9% 1 yr
Lafayette, IN
$283K home$1,473 rent6.2% yield
▲ 2.9% 1 yr
Elkhart, IN
$266K home$1,182 rent5.3% yield
▲ 5.5% 1 yr
Terre Haute, IN
$166K home$977 rent7.1% yield
▲ 1.4% 1 yr
Bloomington, IN
$297K home$1,746 rent7.1% yield
▲ 1.6% 1 yr
Muncie, IN
$169K home$1,043 rent7.4% yield
▲ 4.3% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.