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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 876,384, 338,208 total housing units (homes and apartments), and a median house value of $166,676, 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 59.72% of the city's housing units. Other types of housing that are prevalent in Indianapolis include large apartment complexes or high rise apartments ( 23.36%), row houses and other attached homes ( 8.59%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.19%).
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 52.15% owning and 47.85% 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 ( 31.85%). A lesser amount of the housing stock also hails from before 1939 ( 16.80%). There's also some housing in Indianapolis built between 2000 and later ( 12.63%).
Vacant housing appears to be an issue in Indianapolis. Fully 12.41% 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.
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 62.07%, which ranks in the top 30% nationwide. This equates to an annual average Indianapolis house appreciation rate of 4.95%.
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 10.96%, which is higher than appreciation rates in 75.94% 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 2.15%, which equates to an annual appreciation rate of 8.87%.
Relative to Indiana, our data show that Indianapolis's latest annual appreciation rate is higher than 90% 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 for Nation
Average for IN