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Indianapolis city (balance), IN

ZIP 46221 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 46221

Median Home Value
$174,900
Median Rent
$889
Affordability Snapshot
$48,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,124/mo PITI).

18%
Rent-to-Income Ratio

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

3.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.4 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 46221 in Indianapolis city (balance), IN, a household would need roughly $48,000 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 $1,124. That sits below the local median household income ($58,316), 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
60.8%-7% vs US avg
x
Vacancy Rate
9.2%-10% vs US avg
x
Broadband Access
92.2%+6% vs US avg
x
4+ Bedrooms
2.2%-85% vs US avg
x
Built Pre-1939
5.5%-57% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
24.1%-51% vs US avg
x
Mortgage-Free
30.2%-21% vs US avg
x
$174,900
Home Value
$889
Rent
1975
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

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

  • 1-unit detached75.1%
  • 1-unit attached5.0%
  • 2-9 units9.4%
  • 10+ units9.4%
  • Mobile home & other1.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$174,900
Median rent$889
Owner-occupied60.8%
Vacant9.2%
Price-to-income3.0x
Est. income to buy$48,000