The story of this market
The typical home in ZIP 46163 sells for about $348,850, or $173 per square foot.
Prices are up +1.5% from a year ago, so sellers still have some momentum. Homes take about 10 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,060 a month.
ZIP 46163 — New Palestine
The housing market in 46163 is characterized by low inventory and high demand, resulting in a competitive environment for buyers. Prices have shown resilience with modest year-over-year growth, supported by the area's appeal to families and its proximity to Indianapolis. Note that some specific metrics like historical tax data were not available at the ZIP level and are omitted.
This ZIP is ideal for families and commuters seeking a suburban lifestyle with access to Indianapolis, offering a balance of newer housing stock and community-focused amenities.
Median prices moved up 1.5% year over year.
Homes spend a median of 10 days on market with 2.0 months of supply — a fast-moving market.
47% of listings have cut prices · homes sell at 100% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.0% · poverty 3.9% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 46163, Hancock County IN
The area is served by the Southern Hancock County Community School Corporation, which is generally well-regarded within the region.
The area is subject to standard Midwestern weather risks, including severe thunderstorms and occasional wind events; flood risk is generally low but varies by specific parcel.
The area is experiencing steady suburban expansion as a bedroom community for the Indianapolis metropolitan area, with ongoing residential development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
Residents primarily commute by car to the Indianapolis employment core, typically via US-52 or I-74, with commute times generally ranging from 25 to 40 minutes.
The area features local community parks and proximity to regional greenbelts, with shopping and dining options concentrated along the main thoroughfares.
The rental market is characterized by low vacancy pressure and steady demand, driven by families seeking suburban housing options.
The local economy is largely driven by the broader Indianapolis metropolitan labor market, with a mix of professional services, healthcare, and logistics sectors.
Transportation is heavily reliant on private vehicle use, with major highway access provided by US-52 and proximity to I-74.
Residential development continues to expand on the periphery of the town, with ongoing infrastructure improvements to support population growth.
The Hancock County Assessor manages property valuations based on annual market adjustments and cyclical reassessments.
Parcels are subject to Southern Hancock County Community School Corporation taxes and various local municipal service districts.
Property insurance premiums are influenced by regional weather patterns, with standard coverage for wind and hail being typical for the area.
Data retrieved from data.census.gov ZCTA 46163 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Local park providing green space and recreational facilities for residents.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).