The story of this market
The typical home in ZIP 46231 sells for about $252,500, or $125 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,254 a month.
ZIP 46231 — Indianapolis
The 46231 housing market remains stable with moderate price growth and balanced inventory levels. Demand is supported by the area's logistics-driven economy and relative affordability compared to the broader Indianapolis market. Figures for specific metrics like price cuts and months of supply are based on current market listings.
This ZIP is well-suited for families and commuters who prioritize proximity to the airport and major highway arteries while seeking more affordable housing options compared to the northern suburbs.
Median prices moved up 3.2% year over year.
Homes spend a median of 45 days on market with 2.8 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 12.0% — a stable, low-distress 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 7.2%/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 6.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 46231, Marion County, IN
Crime rates in the 46231 area are generally consistent with suburban Indianapolis trends, with property crime being the primary concern. The area is considered moderately safe compared to the urban core of Indianapolis.
Schools serving the 46231 area are primarily part of the Decatur Township school system, which provides a range of educational services with moderate performance ratings.
The area is not prone to significant wildfire or coastal hazards, though standard flood insurance may be recommended for properties near local drainage basins.
The area benefits from proximity to the Indianapolis International Airport and major logistics hubs, driving steady demand for residential housing and supporting local employment.
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 typically commute via I-70 or I-465, providing direct access to downtown Indianapolis and the surrounding industrial employment corridors.
The area features local community parks and is within a short drive of larger regional recreational facilities and shopping centers in the southwest Indianapolis metro area.
The rental market is characterized by steady demand and moderate vacancy rates, with a mix of single-family rentals and apartment communities serving the local workforce.
The economy is heavily influenced by the logistics, transportation, and manufacturing sectors due to the proximity to Indianapolis International Airport.
The area is served by major highway corridors including I-70 and I-465, facilitating regional transit and commuting.
Development is focused on residential infill and the expansion of commercial logistics facilities along the airport corridor.
The Marion County Assessor manages property valuations, with assessments conducted annually to reflect market changes.
Parcels are subject to various taxing districts including the Metropolitan School District of Decatur Township and municipal service districts.
Property insurance premiums are generally stable, reflecting the low risk of natural disasters in the central Indiana region.
Data retrieved from US Census Bureau ZCTA 46231 profiles.
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 Park4.55.7 mi
- Dave & Buster's Indianapolis3.917 mi
- Smiley Ocean Themed Adventure Park4.317.2 mi
- The Waterpark4.316.8 mi
- Sky Zone Trampoline Park4.318.1 mi
- Gainbridge Fieldhouse4.78.6 mi
- Lucas Oil Stadium4.78.2 mi
- Indianapolis Zoo4.57.4 mi
- Indianapolis Motor Speedway4.85.4 mi
- Indiana Convention Center4.68.3 mi
- The Children's Museum of Indianapolis4.79.5 mi
- Indianapolis Zoo4.57.4 mi
- Indianapolis Motor Speedway4.85.4 mi
- AMC Indianapolis 174.49.3 mi
- Eagle Creek Park4.78.7 mi
- The Children's Museum of Indianapolis4.79.5 mi
- Newfields4.78.8 mi
- Indianapolis Motor Speedway Museum4.85.3 mi
- Indiana State Museum4.77.9 mi
- Soldiers & Sailors Monument4.78.6 mi
- Newfields4.78.8 mi
- Eagle Creek Park4.78.7 mi
- White River State Park4.77.9 mi
- Holliday Park4.811.7 mi
- Garfield Park4.59 mi
- White River Yacht Club4.613.6 mi
- The Hangar4.98.5 mi
- Brickyard Crossing4.65.4 mi
- Southern Dunes Golf Course4.19.1 mi
- Saddlebrook Golf Club48.6 mi
- Coffin Golf Course3.77.2 mi
- Saraga International Grocery4.36.7 mi
- Meijer4.212.5 mi
- Meijer4.16.4 mi
- Carnicería Guanajuato4.26.8 mi
- Meijer4.21.1 mi
- Indianapolis International Airport4.62 mi
- Flights Craft Bar & Kitchen3.93.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Local community park providing green space and recreational facilities.
Large regional park with trails and natural areas nearby.
Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).