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Indianapolis city (balance), IN

ZIP 46227 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLarge CommunityLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46227

Median Home Value
$192,600
Median Rent
$865
Affordability Snapshot
$53,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,237/mo PITI).

20%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.8x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

18.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 46227 in Indianapolis city (balance), IN, a household would need roughly $53,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,237. That is roughly in line with the local median household income ($50,993). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
45.2%-31% vs US avg
x
Vacancy Rate
9.7%-6% vs US avg
x
Broadband Access
87.8%+1% vs US avg
x
4+ Bedrooms
1.2%-92% vs US avg
x
Built Pre-1939
4.1%-68% vs US avg
x
Built Post-2014
0.3%-95% vs US avg
x
Rent Burden >30%
26.6%-46% vs US avg
x
Mortgage-Free
33.0%-14% vs US avg
x
$192,600
Home Value
$865
Rent
1971
Year Built
2017
Moved In

Residents have lived here since ~2017 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached47.5%
  • 1-unit attached8.4%
  • 2-9 units19.0%
  • 10+ units23.0%
  • Mobile home & other2.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$192,600
Median rent$865
Owner-occupied45.2%
Vacant9.7%
Price-to-income3.8x
Est. income to buy$53,000