Rental numbers for Hamilton County, IN
The typical home here runs -$1,746 a month at 7.78% with 25% down. 0 of 9 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 5.1%.
- Gross yield
- 4.8%
- typical home, Zillow
- Median ZIP yield
- 5.1%
- 9 ZIPs with full data
- Cash flow
- -$1,746/mo
- at 7.78%, 25% down
- Typical price
- $465,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,846/mo
- Zillow ZORI, Aug 2026
ZIP codes in Hamilton County
13 with published figures
| 46280Carmel | $345,000 | $1,931 | 6.7% | 3.6% | -$811 | +9.6% |
| 46060Noblesville | $358,000 | $1,750 | 5.9% | 2.9% | -$1,077 | +5.8% |
| 46038Fishers | $381,000 | $1,803 | 5.7% | 2.7% | -$1,187 | +3.5% |
| 46037Fishers | $473,000 | $2,036 | 5.2% | 2.2% | -$1,670 | +6.9% |
| 46031Atlanta | $334,000 | $1,410* | 5.1% | 2.3% | -$1,163 | n/a |
| 46062Noblesville | $439,000 | $1,851 | 5.1% | 2.2% | -$1,543 | +2.4% |
| 46030Arcadia | $311,000 | $1,240* | 4.8% | 1.9% | -$1,173 | n/a |
| 46074Westfield | $504,000 | $1,962 | 4.7% | 1.9% | -$1,921 | +5.0% |
| 46033Carmel | $589,000 | $2,263 | 4.6% | 1.9% | -$2,221 | +8.5% |
| 46034Cicero | $410,000 | $1,500* | 4.4% | 1.7% | -$1,624 | n/a |
| 46040Fishers | $503,000 | $1,818 | 4.3% | 1.7% | -$1,988 | n/a |
| 46069Sheridan | $341,000 | $1,180* | 4.2% | 1.5% | -$1,424 | n/a |
| 46032Carmel | $586,000 | $1,752 | 3.6% | 1.0% | -$2,650 | +7.8% |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +2.9%
- Rent, 12 months
- +5.1%
- Rent minus price growth
- +2.3 pts
- Property tax
- 0.88%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $367,123 | $1,485 |
| Aug 2022 | $426,641 | $1,652 |
| Aug 2023 | $434,341 | $1,674 |
| Aug 2024 | $442,579 | $1,733 |
| Aug 2025 | $452,096 | $1,756 |
| Aug 2026 | $465,109 | $1,846 |
HUD Fair Market Rent
FY2027, Indianapolis-Carmel, IN HUD Metro FMR Area
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,187 | $1,336 | $1,536 | $1,991 | $2,425 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 41.8
- 5,733 units, last 12 months
- National percentile
- 99th
- among US counties
Tools
Test a listing in Hamilton County against today's rate.
Open the calculatorPart of the Indianapolis, IN metro.
Questions
- Is Hamilton County good for rental property?
- The typical home here runs -$1,746 a month at 7.78% with 25% down. 0 of 9 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 5.1%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Hamilton County?
- About 0.88% of value, from Census ACS median taxes paid over median home value. On a $465,000 home that is about $4,070 a year.
- What is Fair Market Rent in Hamilton County?
- HUD's FY2027 Fair Market Rent here is $1,336 for a 1-bedroom, $1,536 for a 2-bedroom and $1,991 for a 3-bedroom. Typical cash flow at today's rate is -$1,746 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.