Indianapolis IN

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Indianapolis, IN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Indianapolis Housing Market Information

With 876,384 people, 335,373 houses or apartments, and a median cost of homes of $157,808, house prices in Indianapolis are solidly below the national average.

Single-family detached homes are the single most common housing type in Indianapolis, accounting for 59.33% of the city's housing units. Other types of housing that are prevalent in Indianapolis include large apartment complexes or high rise apartments ( 23.64%), row houses and other attached homes ( 8.68%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.20%).

The most prevalent building size and type in Indianapolis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.34% owning and 46.66% renting.

There is a lot of housing in Indianapolis built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Indianapolis built between 1940-1969 ( 32.03%). A lesser amount of the housing stock also hails from before 1939 ( 16.64%). There's also some housing in Indianapolis built between 2000 and later ( 12.17%).

Vacant housing appears to be an issue in Indianapolis. Fully 12.88% of the housing stock is classified as vacant. Left unchecked, vacant Indianapolis homes and apartments can be a drag on the real estate market, holding Indianapolis real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Indianapolis Home Appreciation Rates

Appreciation rates for homes in Indianapolis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 42.36%, which ranks in the top 30% nationwide. This equates to an annual average Indianapolis house appreciation rate of 3.60%.

Appreciation rates are so strong in Indianapolis that despite a nationwide downturn in the housing market, Indianapolis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Indianapolis appreciation rates continue to be some of the highest in America, at 5.12%, which is higher than appreciation rates in 73.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Indianapolis. Indianapolis appreciation rates in the latest quarter were at 1.74%, which equates to an annual appreciation rate of 7.16%.

Relative to Indiana, our data show that Indianapolis's latest annual appreciation rate is higher than 70% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Indianapolis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Indianapolis - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Indianapolis real estate investment or home purchase decisions.

Average Home Values


Median Home Value:

Indianapolis, IN HOME PRICES

Value Range
> $1,284,000 0.6
$963,001 - $1,284,000 0.6
$642,001 - $963,000 1.8
$513,001 - $642,000 1.8
$385,001 - $513,000 4.3
$257,001 - $385,000 8.9
$129,001 - $257,000 43.1
$64,001 - $129,000 28.6
$0 - $64,000 10.4

Average for IN
Average for Nation

Value Relative to Nation Value Relative to State
58.3007299270073 42.5339366515837

Number Of Homes And Apartments:

Indianapolis Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
46.49% 1.86%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,135 / per month

Homeownership Rate

Owners 53.34
Renters 46.66
Vacant 12.88

Housing Market Details


Age of Homes

AGE OF Indianapolis HOMES
2000 or Newer 12.2
1970 - 1999 39.2
1940 - 1969 32.0
1939 or Older 16.6

Types of Homes

TYPE OF Indianapolis HOMES
Single-Family 59.3
Townhomes 8.7
Small Apt. Buildings 7.2
Apt. Complexes 23.6
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Indianapolis HOMES
No Bedroom 2.32
1 Bedroom 14.44
2 Bedrooms 31.55
3 Bedrooms 36.73
4 Bedrooms 12.57
5 or more bedrooms 2.39