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Indianapolis city (balance), IN

ZIP 46241 — 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 46241

Median Home Value
$111,500
Median Rent
$834
Affordability Snapshot
$31,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$716/mo PITI).

19%
Rent-to-Income Ratio

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

2.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

11.1 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 46241 in Indianapolis city (balance), IN, a household would need roughly $31,000 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 $716. That sits below the local median household income ($51,598), 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
54.2%-17% vs US avg
x
Vacancy Rate
8.7%-16% vs US avg
x
Broadband Access
88.0%+1% vs US avg
x
4+ Bedrooms
0.6%-96% vs US avg
x
Built Pre-1939
13.5%+5% vs US avg
x
Built Post-2014
0.3%-95% vs US avg
x
Rent Burden >30%
33.7%-32% vs US avg
x
Mortgage-Free
38.7%+1% vs US avg
x
$111,500
Home Value
$834
Rent
1964
Year Built
2015
Moved In

Residents have lived here since ~2015 on average

Housing Structure

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

  • 1-unit detached75.0%
  • 1-unit attached3.7%
  • 2-9 units10.1%
  • 10+ units5.5%
  • Mobile home & other5.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$111,500
Median rent$834
Owner-occupied54.2%
Vacant8.7%
Price-to-income2.2x
Est. income to buy$31,000