Near North Side, Indianapolis, IN—46202
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Near North Side, Indianapolis, IN
As of Oct '25, the median home price in Near North Side, Indianapolis, IN is $348,000, with a year-over-year change of 0.8%. This indicates that home prices in Near North Side, Indianapolis, IN are flat. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $348,000 | 0.8% |
| Single Family | $351,000 | 0.3% |
| Condos | $340,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $240,000 | 0.4% |
2 Bed | $320,000 | 1.3% |
3 Bed | $356,000 | 0.8% |
4 Bed | $558,000 | 1.6% |
| 5 Bed | $681,000 | 1.0% |
% of Housing Stock
Rental Trends — Near North Side, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Near North Side, Indianapolis, IN is $1,500, with a year-over-year rent change of -6.2%. Per bedroom, the median rent as of July '25 in Near North Side, Indianapolis, IN is studios: $976, 1-bedrooms: $1,140, 2-bedrooms: $1,650, 3-bedrooms: $2,030, 4-bedrooms: $2,110. The most common rental property sizes in Near North Side, Indianapolis, IN are 1-bedroom and 2-bedroom, accounting for 46.9% and 33.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,320 | $1,500 |
| Studio Rent | $900 | $976 |
| 1 Bed Rent | $1,100 | $1,140 |
| 2 Bed Rent | $1,440 | $1,650 |
| 3 Bed Rent | $1,650 | $2,030 |
| 4 Bed Rent | $2,200 | $2,110 |
% of Rental Stock
Property Listings — Near North Side, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Near North Side, Indianapolis, IN is 69. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $449,000 | -14.0% |
Listing Count | 149 | -9.0% |
| Listings as % of Homes | 1.3% | -9.0% |
Days on Market | 69 | -5.0% |
Demographics — Near North Side, Indianapolis, IN
As of the latest ACS Survey released in 2023, Near North Side, Indianapolis, IN has a population of 20,300, which has increased by 1.6% over the past 5 years. Near North Side, Indianapolis, IN is a less popular place for families, as children make up 9.4% of the population. The area has a highly educated workforce, with 62.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,300 | 1.6% |
% Under 18 | 9.4% | 14.6% |
% Seniors | 8.8% | 12.8% |
% WFH | 18.7% | 466.7% |
% w/ College Degree | 62.3% | 16.4% |
As of the latest ACS Survey released in 2023, Near North Side, Indianapolis, IN is a predominantly white area, with 61.9% of the population identifying as white. The white population has grown by 12.3% in the last 5 years. The second most common race or ethnicity in Near North Side, Indianapolis, IN is black, making up 20.4% of the population. Foreign-born residents account for 11.0% of the population in Near North Side, Indianapolis, IN, and this percentage has decreased by 1.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 61.9% | 12.3% |
% Black | 20.4% | -28.9% |
% Hispanic | 7.7% | 87.8% |
% Asian | 6.3% | -25.0% |
% Foreign Born | 11.0% | -1.8% |
Mortgage and Risk — Near North Side, Indianapolis, IN
According to HUD data as of 2023, there were 281 mortgage originations in Near North Side, Indianapolis, IN, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Near North Side, Indianapolis, IN. Investor activity is low, as 5.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 281 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Near North Side, Indianapolis, IN
As of 2024, the percent of homes in Near North Side, Indianapolis, IN under the Section 8 program is 14.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Near North Side, Indianapolis, IN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,065 |
Total Units Section 8 | 1,047 |
% Rentals under Section 8 | 14.4% |
% Occupied Section 8 | 77.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,100 | $1,340 |
| 2 Bedroom | $130 | $1,440 | $1,570 |
| 3 Bedroom | $390 | $1,650 | $2,040 |
| 4 Bedroom | $280 | $2,200 | $2,480 |
Affordability — Near North Side, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $348,000 |
| Median Household Income | $61,100 |