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Indianapolis city (balance), IN

ZIP 46231 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46231

Median Home Value
$204,200
Median Rent
$1,295
Affordability Snapshot
$56,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,312/mo PITI).

20%
Rent-to-Income Ratio

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

2.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

13.1 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 46231 in Indianapolis city (balance), IN, a household would need roughly $56,000 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 $1,312. That sits below the local median household income ($76,823), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
73.3%+12% vs US avg
x
Vacancy Rate
4.0%-62% vs US avg
x
Broadband Access
91.5%+5% vs US avg
x
4+ Bedrooms
4.6%-69% vs US avg
x
Built Pre-1939
0.7%-95% vs US avg
x
Built Post-2014
2.6%-63% vs US avg
x
Rent Burden >30%
24.1%-51% vs US avg
x
Mortgage-Free
27.1%-29% vs US avg
x
$204,200
Home Value
$1,295
Rent
1998
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

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

  • 1-unit detached97.1%
  • 1-unit attached1.4%
  • 2-9 units0.0%
  • 10+ units1.5%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$204,200
Median rent$1,295
Owner-occupied73.3%
Vacant4.0%
Price-to-income2.7x
Est. income to buy$56,000