Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$291,634+1.0% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 32% have cut their price
Income needed to buy, per year$63,220About 0.7× the local median income ($85,269): affordable for a typical household
Days on market55 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+1.9%Zillow expects prices to rise slightly
The typical home in Indianapolis-Carmel-Greenwood, IN is worth $291,634, up 1.0% from a year ago. That is well above what local incomes have historically supported: fair value is about $250,141, so the area is 16.6% overvalued. It is a buyer's market: homes take about 55 days to sell, listings are up 21% from a year ago, 32% of listings have had a price cut. Zillow expects prices to rise about 1.9% over the next year. A household needs about $63,220 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $85,269. Typical rent is $1,528 a month, or $1,901 for a house. In the latest IRS figures, 3,812 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$291,634
Change in 1 year
+1.0%
Overvalued %
+16.6%
Show 7 more
Fair home value
$250,141
Change in 5 years
+22.6%
Zillow forecast, next 12 months
+1.9%
Home value to income
3.4×
Monthly mortgage payment (20% down)
$1,581
Income needed to afford it
$63,220
Property tax rate
0.81%
Rent and investing
Typical rent
$1,528
Typical rent for houses
$1,901
Price-to-rent ratio
15.9×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,521
Gross rental yield
6.29%
Cap rate (estimate)
4.09%
Market activity
Listings vs a year ago
+21.3%
Days on market
55
Listings with a price cut
31.7%
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Homes for sale
7,171
Pending sales per 100 listings
37
Asking price per sq ft
$164
People and jobs
Median household income
$85,269
Population change (1 year)
+1.0%
Unemployment rate
4.0%
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Population
2,205,695
Income adjusted for cost of living
$89,100
Net moves in (IRS)
+3,812
Cost of living (US = 100)
95.7
Schools, risk and environment
School rating (1 to 10)
5.7
FEMA hazard risk score (0 to 100)
83.5
Unhealthy air days a year
4
Show 4 more
Flood risk score
86.9
Wildfire risk score
18.7
Walkability (1 to 20)
8.8
Road, rail and air noise
54 dB
Questions people ask
Is Indianapolis-Carmel-Greenwood, IN overvalued?
Home prices in Indianapolis-Carmel-Greenwood, IN are well above what local incomes have historically supported: fair value is about $250,141, so the area is 16.6% overvalued.
Is Indianapolis-Carmel-Greenwood, IN a buyer's or seller's market?
Indianapolis-Carmel-Greenwood, IN is a buyer's market: homes take about 55 days to sell, listings are up 21% from a year ago, 32% of listings have had a price cut.
Are home prices going down in Indianapolis-Carmel-Greenwood, IN?
Home values in Indianapolis-Carmel-Greenwood, IN are up 1.0% over the last year. Zillow's forecast for the next 12 months is +1.9%.
How much do you need to earn to buy a home in Indianapolis-Carmel-Greenwood, IN?
A household needs about $63,220 a year to afford the typical home in Indianapolis-Carmel-Greenwood, IN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $85,269.