The story of this market
The typical home in ZIP 46224 sells for about $243,000, or $152 per square foot.
Prices are up +10% from a year ago, so sellers still have some momentum. Homes take about 28 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,095 a month.
ZIP 46224 — Indianapolis
The 46224 housing market is currently very competitive, driven by strong demand for entry-level homes and a significant year-over-year price increase of 10%. While inventory has seen a recent climb, the market remains tight, with homes selling at a measured pace and a high sale-to-list ratio. The area continues to benefit from its strategic location near major logistics employers and the airport.
This ZIP is well-suited for first-time homebuyers, working-class families, and investors seeking affordable entry points into the Indianapolis market, given its proximity to major employment hubs and transit corridors.
Median prices moved up 10.0% year over year.
Homes spend a median of 28 days on market with 4.2 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 91.3% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.0% · poverty 16.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 46224, Marion County IN
Crime rates in the 46224 area are generally higher than the national average, with property crime being the most frequently reported issue in this urbanized section of Indianapolis.
Schools serving the area are primarily part of the Metropolitan School District of Wayne Township, which maintains a diverse student body and mixed performance ratings across its elementary and secondary campuses.
The area is primarily an urban environment with standard flood risks associated with local drainage basins; it is not prone to wildfire, though standard wind and storm insurance coverage is recommended for the region.
Economic momentum is driven by proximity to the Indianapolis International Airport and major logistics hubs along the I-70 corridor, providing a steady base of industrial and service-sector employment.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
Residents benefit from direct access to I-70 and I-465, providing a relatively efficient commute to downtown Indianapolis, typically averaging under 25 minutes.
The area features several local parks and green spaces, including proximity to the Eagle Creek Park system and various shopping centers along the Rockville Road corridor.
The rental market is characterized by high demand for affordable housing, with vacancy rates remaining low and rents trending upward due to limited supply of entry-level units.
The economy is anchored by logistics, transportation, and manufacturing sectors, heavily influenced by the proximity to Indianapolis International Airport.
The area is served by major highway corridors including I-70 and I-465, with limited public transit options compared to the urban core.
Development is focused on industrial expansion and the revitalization of older commercial strips along major roadways.
The Marion County Assessor manages property valuations, with assessments conducted annually to reflect market changes.
Parcels are subject to the Metropolitan School District of Wayne Township and various municipal service districts.
Property insurance premiums are stable but reflect the regional risk of severe weather events common in the Midwest.
Data retrieved from Census Reporter and ACS 2024 tables.
- Slick City Action Park4.55.4 mi
- Dave & Buster's Indianapolis3.912 mi
- Smiley Ocean Themed Adventure Park4.312.2 mi
- Sky Zone Trampoline Park4.313.1 mi
- The Waterpark4.311.9 mi
- Gainbridge Fieldhouse4.75.7 mi
- Lucas Oil Stadium4.75.4 mi
- Indianapolis Zoo4.54.5 mi
- Indianapolis Motor Speedway4.81 mi
- Indiana Convention Center4.65.4 mi
- The Children's Museum of Indianapolis4.75 mi
- Indianapolis Zoo4.54.5 mi
- Indianapolis Motor Speedway4.81 mi
- AMC Indianapolis 174.48.7 mi
- Eagle Creek Park4.75.5 mi
- The Children's Museum of Indianapolis4.75 mi
- Newfields4.73.8 mi
- Conner Prairie4.617.3 mi
- Indianapolis Motor Speedway Museum4.81.2 mi
- Indiana State Museum4.74.9 mi
- Newfields4.73.8 mi
- Eagle Creek Park4.75.5 mi
- White River State Park4.74.9 mi
- Holliday Park4.86.7 mi
- Garfield Park4.57.2 mi
- White River Yacht Club4.68.6 mi
- Indianapolis Yacht Club4.618.9 mi
- The Hangar4.95.8 mi
- Golf Galaxy3.912.1 mi
- Brickyard Crossing4.61.5 mi
- Southern Dunes Golf Course4.111 mi
- Saddlebrook Golf Club43.8 mi
- Castleton Square4.212.3 mi
- The Fashion Mall at Keystone4.410.8 mi
- Saraga International Grocery4.31.7 mi
- Meijer4.412.9 mi
- Meijer4.27.6 mi
- Indianapolis International Airport4.66.1 mi
- Flights Craft Bar & Kitchen3.95.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
One of the largest municipal parks in the US, offering trails, boating, and nature preserves.
Major commercial artery featuring a wide variety of retail and dining options.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).