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Indianapolis city (balance), IN

ZIP 46204 — Housing & Real Estate

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

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46204

Median Home Value
$350,400
Median Rent
$1,606
Affordability Snapshot
$96,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,251/mo PITI).

22%
Rent-to-Income Ratio

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

4.0x
Home Price-to-Income Ratio

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

18.2 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 46204 in Indianapolis city (balance), IN, a household would need roughly $96,000 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 $2,251. That is roughly in line with the local median household income ($88,081). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
17.2%-74% vs US avg
x
Vacancy Rate
10.8%+5% vs US avg
x
Broadband Access
94.7%+9% vs US avg
x
4+ Bedrooms
0.0%
x
Built Pre-1939
2.0%-84% vs US avg
x
Built Post-2014
3.0%-57% vs US avg
x
Rent Burden >30%
19.4%-61% vs US avg
x
Mortgage-Free
22.3%-42% vs US avg
x
$350,400
Home Value
$1,606
Rent
2006
Year Built
2020
Moved In

Residents have lived here since ~2020 on average

Housing Structure

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

  • 1-unit detached3.2%
  • 1-unit attached2.9%
  • 2-9 units3.1%
  • 10+ units90.9%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$350,400
Median rent$1,606
Owner-occupied17.2%
Vacant10.8%
Price-to-income4.0x
Est. income to buy$96,000