The story of this market
The typical home in ZIP 46227 sells for about $231,226, or $135 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $1,035 a month.
ZIP 46227 — Indianapolis
The 46227 housing market remains stable with moderate price appreciation and a balanced inventory level. While rental demand is high, elevated vacancy rates suggest a competitive environment for investors. Overall, the market is driven by its affordability relative to the broader Indianapolis metro area, attracting a mix of families and long-term investors.
This ZIP is well-suited for family buyers and first-time homeowners seeking affordability relative to the broader metro area. It also attracts investors looking for rental yield potential, though the market requires careful selection due to varying property conditions.
Median prices moved up 2.4% year over year.
Homes spend a median of 38 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 16.7% — 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 7.1%/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
in-migration and out-migration balanced
ZCTA 46227, Marion County, IN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 46227 area are generally consistent with broader Indianapolis trends, with property crime being the primary concern. Residents often report higher safety levels in the southern residential pockets compared to the northern urban-adjacent sections.
Schools serving the area are primarily part of Perry Township Schools, which maintains a diverse student population and varying performance ratings across individual campuses.
The area faces standard Midwestern climate risks, including occasional severe thunderstorms and wind events. Flood risk is generally low, though localized drainage issues can occur in older neighborhoods.
Economic momentum is driven by proximity to the Indianapolis employment core and logistics hubs. Development is characterized by infill residential projects and the revitalization of older commercial corridors along Madison Avenue.
Property taxes are assessed by Marion County based on market value, with rates influenced by local taxing districts including Perry Township and the City of Indianapolis. Homeowners may qualify for standard homestead exemptions.
Commuters benefit from direct access to I-65 and US-31, providing a straightforward drive to downtown Indianapolis. Public transit options are limited, making personal vehicle ownership the primary mode of transportation.
The area features several local parks and green spaces, including Southport Park. Residents have access to various shopping and dining options along the Madison Avenue corridor and proximity to regional retail centers.
The rental market is characterized by a high renter share of approximately 55.5%, with steady demand for single-family rentals. Vacancy rates are elevated at 9.8%, suggesting a competitive environment for landlords.
The economy is anchored by the broader Indianapolis labor market, with significant employment in logistics, healthcare, and retail. The area serves as a residential base for workers commuting to these major sectors.
The area is served by major highway corridors including I-65 and US-31, facilitating regional connectivity. Public transit infrastructure is primarily limited to bus routes connecting to the city center.
Development is focused on the modernization of existing housing stock and commercial revitalization along major thoroughfares. No major large-scale master-planned communities are currently reported.
The Marion County Assessor manages property valuations, utilizing a mass appraisal system to determine annual tax assessments.
Parcels are subject to various taxing districts, including Perry Township Schools and municipal service districts for Indianapolis.
Property insurance premiums are influenced by regional weather patterns, with standard coverage for wind and hail being essential for homeowners.
Data retrieved from US Census Bureau and aggregated sources.
- Slick City Action Park4.515.4 mi
- Dave & Buster's Indianapolis3.916.1 mi
- Smiley Ocean Themed Adventure Park4.316.3 mi
- Sky Zone Trampoline Park4.316.4 mi
- Splash Island4.215.1 mi
- Gainbridge Fieldhouse4.76 mi
- Lucas Oil Stadium4.75.8 mi
- Indianapolis Zoo4.56.6 mi
- Indianapolis Motor Speedway4.89.7 mi
- Indiana Convention Center4.66.1 mi
- The Children's Museum of Indianapolis4.79.2 mi
- Indianapolis Zoo4.56.6 mi
- Indianapolis Motor Speedway4.89.7 mi
- AMC Indianapolis 174.41.9 mi
- Indianapolis Motor Speedway Museum4.89.4 mi
- The Children's Museum of Indianapolis4.79.2 mi
- Newfields4.710.5 mi
- Indianapolis Motor Speedway Museum4.89.4 mi
- Indiana State Museum4.76.5 mi
- Soldiers & Sailors Monument4.76.3 mi
- Newfields4.710.5 mi
- White River State Park4.76.4 mi
- Garfield Park4.53.9 mi
- Indianapolis Canal Walk4.76.8 mi
- Indiana War Memorial & Museum4.76.6 mi
- White River Yacht Club4.614.5 mi
- The Hangar4.95.7 mi
- Southern Dunes Golf Course4.14.9 mi
- Brickyard Crossing4.69.1 mi
- Saddlebrook Golf Club412.9 mi
- Pleasant Run Golf Course4.47.8 mi
- Greenwood Park Mall4.43.3 mi
- Saraga International Grocery4.310.8 mi
- Meijer4.212 mi
- Meijer4.33.1 mi
- Meijer4.112 mi
- Indianapolis International Airport4.69.5 mi
- Flights Craft Bar & Kitchen3.97.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides local green space and recreational facilities for residents.
The primary commercial artery featuring a mix of local businesses and national retailers.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.