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Indianapolis city (balance), IN

ZIP 46224 — 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 46224

Median Home Value
$166,500
Median Rent
$880
Affordability Snapshot
$46,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,070/mo PITI).

20%
Rent-to-Income Ratio

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

3.1x
Home Price-to-Income Ratio

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

15.8 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 46224 in Indianapolis city (balance), IN, a household would need roughly $46,000 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 $1,070. That sits below the local median household income ($53,731), 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

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
37.5%-43% vs US avg
x
Vacancy Rate
9.3%-10% vs US avg
x
Broadband Access
89.9%+3% vs US avg
x
4+ Bedrooms
1.7%-89% vs US avg
x
Built Pre-1939
7.1%-45% vs US avg
x
Built Post-2014
0.3%-96% vs US avg
x
Rent Burden >30%
18.7%-62% vs US avg
x
Mortgage-Free
30.5%-20% vs US avg
x
$166,500
Home Value
$880
Rent
1966
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

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

  • 1-unit detached43.8%
  • 1-unit attached6.1%
  • 2-9 units35.0%
  • 10+ units13.5%
  • Mobile home & other1.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$166,500
Median rent$880
Owner-occupied37.5%
Vacant9.3%
Price-to-income3.1x
Est. income to buy$46,000