The story of this market
The typical home in ZIP 46221 sells for about $213,000, or $118 per square foot.
Prices are down 9.57% from a year ago, which gives buyers more room to negotiate. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,137 a month.
ZIP 46221 — Indianapolis
The 46221 housing market is experiencing a cooling phase, evidenced by a year-over-year decline in median home prices and a moderate increase in days on market. While inventory remains relatively tight, buyer demand has softened, leading to a more balanced market compared to the previous year's competitive environment.
This ZIP code is well-suited for budget-conscious family buyers and workforce commuters who prioritize proximity to major employment hubs like the airport and industrial parks. It is less attractive to those seeking luxury amenities or high-performing school districts.
Median prices moved down 9.6% year over year.
Homes spend a median of 35 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.1% · poverty 18.4% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 46221, Marion County, Indiana
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 46221 area are generally higher than the national average, with property crime being the most frequently reported issue. Local law enforcement trends indicate a stable but persistent challenge compared to suburban areas further from the Indianapolis urban core.
Schools serving the 46221 ZIP code are primarily part of the Indianapolis Public Schools and Decatur Township school systems, with performance ratings varying significantly by individual campus. Many schools in the area are currently undergoing efforts to improve student proficiency and graduation rates.
The area faces moderate risk from severe thunderstorms and occasional localized flooding in low-lying areas near the White River. Property insurance premiums are influenced by regional exposure to wind and hail damage common in Central Indiana.
Economic momentum is driven by proximity to the Indianapolis International Airport and logistics hubs along the I-70 and I-465 corridors. Development is focused on industrial expansion and infill residential projects, though large-scale commercial growth remains limited within the ZIP boundaries.
Property taxes are assessed by Marion County based on the market value of the property, subject to Indiana's constitutional property tax caps (1% for owner-occupied residential). Special districts include local library, fire, and municipal service levies that vary by specific taxing unit.
Residents typically rely on personal vehicles for commuting, with direct access to I-465 and I-70 providing routes to downtown Indianapolis. Public transit options are limited, primarily consisting of bus routes that connect to the broader IndyGo network.
The area features several local parks and green spaces, including proximity to the White River and various community centers. Shopping and dining options are concentrated along major thoroughfares like Kentucky Avenue and Thompson Road.
The rental market is characterized by steady demand from workforce households, with a mix of single-family rentals and older apartment complexes. Vacancy rates remain relatively low due to the area's affordability compared to northern Indianapolis suburbs.
The economy is heavily anchored by logistics, transportation, and manufacturing sectors due to the proximity to the Indianapolis International Airport. Major employers include various freight and distribution companies operating within the industrial parks.
The area is served by a network of arterial roads and highways, with I-465 acting as the primary loop for regional access. Public transportation is provided by IndyGo, though service frequency is lower than in the city center.
Development planning is focused on industrial infill and the revitalization of older commercial corridors. There are no major residential master-planned communities currently under construction.
The Marion County Assessor's office manages property valuations, utilizing a mass appraisal system that is updated annually to reflect market changes.
Parcels are subject to various special taxing districts, including those for fire protection, library services, and municipal solid waste management.
Property insurance costs are typical for the Midwest, with premiums sensitive to regional weather patterns including wind and hail risks.
Data retrieved from data.census.gov ZCTA-level tables.
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.
- Slick City Action Park4.511 mi
- Dave & Buster's Indianapolis3.917.5 mi
- Smiley Ocean Themed Adventure Park4.317.7 mi
- Splash Island4.29.1 mi
- Sky Zone Trampoline Park4.318.2 mi
- Gainbridge Fieldhouse4.76.8 mi
- Lucas Oil Stadium4.76.3 mi
- Indianapolis Zoo4.56.2 mi
- Indianapolis Motor Speedway4.87.2 mi
- Indiana Convention Center4.66.6 mi
- The Children's Museum of Indianapolis4.79.4 mi
- Indianapolis Zoo4.56.2 mi
- Indianapolis Motor Speedway4.87.2 mi
- AMC Indianapolis 174.44.9 mi
- Eagle Creek Park4.712.9 mi
- The Children's Museum of Indianapolis4.79.4 mi
- Newfields4.79.8 mi
- Indianapolis Motor Speedway Museum4.86.8 mi
- Indiana State Museum4.76.6 mi
- Soldiers & Sailors Monument4.77 mi
- Newfields4.79.8 mi
- Eagle Creek Park4.712.9 mi
- White River State Park4.76.4 mi
- Garfield Park4.55.8 mi
- Indianapolis Canal Walk4.77.1 mi
- White River Yacht Club4.614.8 mi
- The Hangar4.96.6 mi
- Southern Dunes Golf Course4.13.6 mi
- Brickyard Crossing4.66.7 mi
- Saddlebrook Golf Club411.2 mi
- Hickory Stick Golf Club4.610 mi
- Greenwood Park Mall4.47.7 mi
- Saraga International Grocery4.38.8 mi
- Meijer4.212.8 mi
- Meijer4.39 mi
- Meijer4.19.3 mi
- Indianapolis International Airport4.63.8 mi
- Flights Craft Bar & Kitchen3.92.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large municipal park offering trails and natural areas.
Major regional employer and transit hub bordering the area.
Primary commercial strip with various retail and service businesses.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.