Rental numbers for the Indianapolis, IN metro
The typical home here runs -$780 a month at 7.78% with 25% down, breaking even at about 1.9%. 3 of 66 ZIP codes with full Zillow data in this metro are cash-flow positive; the median gross yield is 6.6%.
- Gross yield
- 6.3%
- typical home, Zillow
- Median ZIP yield
- 6.6%
- 66 ZIPs with full data
- Cash flow
- -$780/mo
- at 7.78%, 25% down
- Typical price
- $294,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,552/mo
- Zillow ZORI, Aug 2026
ZIP codes in the metro
117 with published figures
| 46016Anderson | $83,000 | $983 | 14.3% | 8.8% | +$158 | +5.4% |
| 46218Indianapolis | $114,000 | $1,278 | 13.4% | 8.8% | +$220 | +6.4% |
| 46222Indianapolis | $125,000 | $1,217 | 11.7% | 7.3% | +$83 | +4.4% |
| 46063Orestes | $115,000 | $1,090* | 11.4% | 7.1% | +$62 | n/a |
| 46203Indianapolis | $167,000 | $1,469 | 10.6% | 6.5% | $0 | +5.8% |
| 46241Indianapolis | $158,000 | $1,341 | 10.2% | 5.9% | -$71 | +0.4% |
| 46235Indianapolis | $217,000 | $1,797 | 9.9% | 6.3% | -$36 | +9.7% |
| 46225Indianapolis | $172,000 | $1,405 | 9.8% | 6.0% | -$62 | +8.4% |
| 46229Indianapolis | $218,000 | $1,782 | 9.8% | 6.0% | -$82 | +2.9% |
| 46231Indianapolis | $255,000 | $2,080 | 9.8% | 5.9% | -$124 | n/a |
| 46201Indianapolis | $151,000 | $1,208 | 9.6% | 5.5% | -$118 | +4.7% |
| 46184Whiteland | $269,000 | $2,068 | 9.2% | 5.8% | -$151 | n/a |
| 46226Indianapolis | $162,000 | $1,239 | 9.2% | 5.3% | -$163 | +5.6% |
| 46048Ingalls | $225,000 | $1,690* | 9.0% | 5.6% | -$167 | n/a |
| 46234Indianapolis | $280,000 | $2,101 | 9.0% | 5.4% | -$247 | +2.2% |
| 46208Indianapolis | $173,000 | $1,259 | 8.7% | 4.9% | -$231 | +5.8% |
| 46103Amo | $199,000 | $1,430* | 8.6% | 4.9% | -$253 | n/a |
| 46113Indianapolis | $278,000 | $2,001 | 8.6% | 5.4% | -$245 | +1.7% |
| 46036Elwood | $158,000 | $1,100* | 8.4% | 4.6% | -$245 | n/a |
| 46111Brooklyn | $196,000 | $1,360* | 8.3% | 5.0% | -$235 | n/a |
| 46239Indianapolis | $293,000 | $1,995 | 8.2% | 4.7% | -$435 | +4.8% |
| 46012Anderson | $188,000 | $1,270* | 8.1% | 4.5% | -$308 | n/a |
| 46107Beech Grove | $192,000 | $1,291 | 8.1% | 4.3% | -$347 | n/a |
| 46221Indianapolis | $209,000 | $1,383 | 8.0% | 4.4% | -$367 | +1.4% |
| 46237Indianapolis | $260,000 | $1,695 | 7.8% | 4.2% | -$483 | +1.8% |
| 46182Waldron | $243,000 | $1,560* | 7.7% | 4.6% | -$379 | n/a |
| 46102Advance | $224,000 | $1,430* | 7.7% | 4.4% | -$385 | n/a |
| 46017Chesterfield | $196,000 | $1,240* | 7.6% | 4.2% | -$376 | n/a |
| 46217Indianapolis | $257,000 | $1,574 | 7.4% | 3.8% | -$566 | -1.8% |
| 46131Franklin | $285,000 | $1,742 | 7.3% | 4.1% | -$553 | +3.9% |
| 46051Lapel | $235,000 | $1,420* | 7.2% | 4.1% | -$467 | n/a |
| 46013Anderson | $180,000 | $1,086 | 7.2% | 3.8% | -$401 | n/a |
| 46228Indianapolis | $269,000 | $1,594 | 7.1% | 3.8% | -$594 | n/a |
| 46070Summitville | $191,000 | $1,120* | 7.0% | 3.8% | -$432 | n/a |
| 46044Frankton | $203,000 | $1,180* | 7.0% | 3.6% | -$477 | n/a |
| 46219Indianapolis | $186,000 | $1,081 | 7.0% | 3.4% | -$484 | +2.5% |
| 46064Pendleton | $337,000 | $1,949 | 6.9% | 4.0% | -$706 | n/a |
| 46268Indianapolis | $254,000 | $1,462 | 6.9% | 3.7% | -$591 | -0.4% |
| 46254Indianapolis | $222,000 | $1,274 | 6.9% | 3.5% | -$551 | +1.6% |
| 46075Whitestown | $365,000 | $2,086 | 6.9% | 3.7% | -$849 | +4.8% |
| 46052Lebanon | $300,000 | $1,699 | 6.8% | 3.7% | -$683 | +9.1% |
| 46227Indianapolis | $228,000 | $1,284 | 6.8% | 3.2% | -$614 | +1.7% |
| 46280Carmel | $345,000 | $1,931 | 6.7% | 3.6% | -$811 | +9.6% |
| 46140Greenfield | $296,000 | $1,634 | 6.6% | 3.6% | -$701 | +4.0% |
| 46236Lawrence | $329,000 | $1,813 | 6.6% | 3.4% | -$853 | +1.5% |
| 46011Anderson | $215,000 | $1,174 | 6.6% | 3.3% | -$572 | n/a |
| 46112Brownsburg | $361,000 | $1,951 | 6.5% | 3.5% | -$905 | +4.6% |
| 46214Indianapolis | $232,000 | $1,249 | 6.5% | 2.9% | -$689 | -2.9% |
| 46224Speedway | $202,000 | $1,086 | 6.5% | 3.0% | -$580 | +1.5% |
| 46055McCordsville | $402,000 | $2,135 | 6.4% | 3.4% | -$1,020 | -1.2% |
| 46175Russellville | $204,000 | $1,070* | 6.3% | 3.3% | -$540 | n/a |
| 46001Alexandria | $186,000 | $968 | 6.3% | 2.8% | -$561 | n/a |
| 46259Indianapolis | $374,000 | $1,943 | 6.2% | 3.2% | -$1,023 | n/a |
| 46123Avon | $353,000 | $1,831 | 6.2% | 3.1% | -$985 | +2.1% |
| 46168Plainfield | $333,000 | $1,707 | 6.2% | 3.2% | -$916 | +2.2% |
| 46150Manilla | $242,000 | $1,220* | 6.1% | 3.2% | -$654 | n/a |
| 47234Flat Rock | $251,000 | $1,260* | 6.0% | 3.0% | -$716 | n/a |
| 46165North Salem | $363,000 | $1,810* | 6.0% | 2.9% | -$1,077 | n/a |
| 46205Indianapolis | $258,000 | $1,285 | 6.0% | 2.8% | -$797 | +3.5% |
| 46204Indianapolis | $344,000 | $1,704 | 5.9% | 2.8% | -$1,051 | +1.2% |
| 46060Noblesville | $358,000 | $1,750 | 5.9% | 2.9% | -$1,077 | +5.8% |
| 46216Lawrence | $306,000 | $1,495 | 5.9% | 2.8% | -$929 | +5.5% |
| 46143Greenwood | $334,000 | $1,624 | 5.8% | 2.9% | -$994 | +2.2% |
| 46176Shelbyville | $227,000 | $1,099 | 5.8% | 2.7% | -$720 | +2.6% |
| 46161Morristown | $273,000 | $1,300* | 5.7% | 2.8% | -$826 | n/a |
| 46038Fishers | $381,000 | $1,803 | 5.7% | 2.7% | -$1,187 | +3.5% |
| 46056Markleville | $285,000 | $1,350* | 5.7% | 2.9% | -$861 | n/a |
| 46124Edinburgh | $233,000 | $1,100* | 5.7% | 2.6% | -$754 | n/a |
| 46122Danville | $350,000 | $1,647 | 5.6% | 2.7% | -$1,091 | n/a |
| 46142Greenwood | $318,000 | $1,490 | 5.6% | 2.8% | -$982 | +5.1% |
| 46186Wilkinson | $289,000 | $1,320* | 5.5% | 2.8% | -$890 | n/a |
| 46166Paragon | $274,000 | $1,190* | 5.2% | 2.6% | -$881 | n/a |
| 46037Fishers | $473,000 | $2,036 | 5.2% | 2.2% | -$1,670 | +6.9% |
| 46158Mooresville | $318,000 | $1,370* | 5.2% | 2.5% | -$1,047 | n/a |
| 46202Indianapolis | $346,000 | $1,492 | 5.2% | 2.1% | -$1,246 | +0.9% |
| 46121Coatesville | $333,000 | $1,420* | 5.1% | 2.6% | -$1,082 | n/a |
| 46162Needham | $350,000 | $1,480* | 5.1% | 2.3% | -$1,218 | n/a |
| 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% |
| 46149Lizton | $358,000 | $1,500* | 5.0% | 2.0% | -$1,332 | n/a |
| 46240Indianapolis | $366,000 | $1,533 | 5.0% | 1.9% | -$1,387 | +0.4% |
| 46120Cloverdale | $264,000 | $1,100* | 5.0% | 2.3% | -$928 | n/a |
| 46180Stilesville | $296,000 | $1,230* | 5.0% | 2.2% | -$1,051 | n/a |
| 46220Indianapolis | $344,000 | $1,429 | 5.0% | 2.0% | -$1,281 | +3.0% |
| 46260Indianapolis | $306,000 | $1,269 | 5.0% | 1.9% | -$1,173 | +2.8% |
| 46172Roachdale | $266,000 | $1,100* | 5.0% | 2.3% | -$933 | n/a |
| 46117Charlottesville | $282,000 | $1,160* | 4.9% | 2.1% | -$1,037 | n/a |
| 46135Greencastle | $248,000 | $1,020* | 4.9% | 2.2% | -$880 | n/a |
| 46250Indianapolis | $328,000 | $1,344 | 4.9% | 1.9% | -$1,259 | +2.1% |
| 46151Martinsville | $299,000 | $1,202 | 4.8% | 2.2% | -$1,054 | n/a |
| 46126Fairland | $276,000 | $1,100* | 4.8% | 2.1% | -$1,013 | n/a |
| 46278Indianapolis | $431,000 | $1,720* | 4.8% | 2.0% | -$1,594 | n/a |
| 46030Arcadia | $311,000 | $1,240* | 4.8% | 1.9% | -$1,173 | n/a |
| 46128Fillmore | $308,000 | $1,210* | 4.7% | 2.1% | -$1,116 | n/a |
| 46181Trafalgar | $373,000 | $1,460* | 4.7% | 2.1% | -$1,370 | n/a |
| 46074Westfield | $504,000 | $1,962 | 4.7% | 1.9% | -$1,921 | +5.0% |
| 46167Pittsboro | $372,000 | $1,430* | 4.6% | 1.8% | -$1,439 | n/a |
| 46033Carmel | $589,000 | $2,263 | 4.6% | 1.9% | -$2,221 | +8.5% |
| 46071Thorntown | $332,000 | $1,270* | 4.6% | 1.9% | -$1,254 | n/a |
| 47448Nashville | $342,000 | $1,290* | 4.5% | 2.1% | -$1,233 | n/a |
| 46118Clayton | $333,000 | $1,240* | 4.5% | 1.9% | -$1,261 | n/a |
| 46034Cicero | $410,000 | $1,500* | 4.4% | 1.7% | -$1,624 | n/a |
| 46130Fountaintown | $324,000 | $1,180* | 4.4% | 1.8% | -$1,263 | n/a |
| 46040Fishers | $503,000 | $1,818 | 4.3% | 1.7% | -$1,988 | n/a |
| 46157Monrovia | $304,000 | $1,100* | 4.3% | 1.8% | -$1,183 | n/a |
| 46256Indianapolis | $344,000 | $1,239 | 4.3% | 1.4% | -$1,442 | -4.1% |
| 46163New Palestine | $384,000 | $1,380* | 4.3% | 1.7% | -$1,524 | n/a |
| 46106Bargersville | $459,000 | $1,640 | 4.3% | 1.7% | -$1,831 | n/a |
| 46147Jamestown | $357,000 | $1,260* | 4.2% | 1.6% | -$1,457 | n/a |
| 46110Boggstown | $322,000 | $1,130* | 4.2% | 1.6% | -$1,308 | n/a |
| 46069Sheridan | $341,000 | $1,180* | 4.2% | 1.5% | -$1,424 | n/a |
| 46105Bainbridge | $301,000 | $1,030* | 4.1% | 1.7% | -$1,198 | n/a |
| 46171Reelsville | $305,000 | $1,030* | 4.0% | 1.6% | -$1,236 | n/a |
| 46160Morgantown | $349,000 | $1,110* | 3.8% | 1.5% | -$1,457 | n/a |
| 46164Nineveh | $370,000 | $1,160* | 3.8% | 1.2% | -$1,622 | n/a |
| 46032Carmel | $586,000 | $1,752 | 3.6% | 1.0% | -$2,650 | +7.8% |
| 46077Zionsville | $696,000 | $1,858 | 3.2% | 0.8% | -$3,312 | +5.5% |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +1.1%
- Rent, 12 months
- +3.3%
- Rent minus price growth
- +2.2 pts
- Property tax
- 0.75%
- effective rate, ACS 2024
Typical value (Zillow ZHVI) Rent (Zillow ZORI)Indexed to 100 at Aug 2021
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $238,221 | $1,208 |
| Aug 2022 | $275,563 | $1,347 |
| Aug 2023 | $278,019 | $1,390 |
| Aug 2024 | $285,458 | $1,456 |
| Aug 2025 | $290,425 | $1,503 |
| Aug 2026 | $293,506 | $1,552 |
Counties
- Madison County, IN6.9% median yield
- Hamilton County, IN5.1% median yield
- Boone County, IN6.8% median yield
- Hancock County, IN6.5% median yield
- Hendricks County, IN6.2% median yield
- Putnam County, INn/a median yield
- Johnson County, IN5.8% median yield
- Marion County, IN7.2% median yield
- Shelby County, IN5.8% median yield
- Morgan County, IN4.8% median yield
- Rush County, INn/a median yield
- Brown County, INn/a median yield
Tools
Questions
- Is the Indianapolis, IN metro good for rental property?
- The typical home here runs -$780 a month at 7.78% with 25% down, breaking even at about 1.9%. 3 of 66 ZIP codes with full Zillow data in this metro are cash-flow positive; the median gross yield is 6.6%. Figures assume a typical home, 7.78% with 25% down and the default costs on the methodology page.
- Which ZIP codes in the Indianapolis, IN metro have the highest rental yield?
- 46016 (Anderson) at 14.3%, 46218 (Indianapolis) at 13.4%, 46222 (Indianapolis) at 11.7%, on Zillow value and rent. The full table above sorts by any column.
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.
- 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.
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.