Broad Ripple, Indianapolis, IN—46205
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Broad Ripple, Indianapolis, IN
As of Oct '25, the median home price in Broad Ripple, Indianapolis, IN is $253,000, with a year-over-year change of 0.1%. This indicates that home prices in Broad Ripple, Indianapolis, IN are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $253,000 | 0.1% |
| Single Family | $257,000 | 0.0% |
| Condos | $157,000 | 1.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $153,000 | 3.4% |
2 Bed | $194,000 | 2.1% |
3 Bed | $272,000 | 1.1% |
4 Bed | $357,000 | 0.8% |
| 5 Bed | $534,000 | 2.5% |
% of Housing Stock
Rental Trends — Broad Ripple, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Broad Ripple, Indianapolis, IN is $1,540, with a year-over-year rent change of 12.4%. Per bedroom, the median rent as of July '25 in Broad Ripple, Indianapolis, IN is studios: $785, 1-bedrooms: $1,020, 2-bedrooms: $1,340, 3-bedrooms: $1,800, 4-bedrooms: $2,370. The most common rental property sizes in Broad Ripple, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 39.1% and 33.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,540 |
| Studio Rent | $650 | $785 |
| 1 Bed Rent | $875 | $1,020 |
| 2 Bed Rent | $1,300 | $1,340 |
| 3 Bed Rent | $1,700 | $1,800 |
| 4 Bed Rent | $2,300 | $2,370 |
% of Rental Stock
Property Listings — Broad Ripple, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Broad Ripple, Indianapolis, IN is 48. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 49.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $335,000 | 4.0% |
Listing Count | 178 | 10.0% |
| Listings as % of Homes | 0.8% | 10.0% |
Days on Market | 48 | 3.0% |
Demographics — Broad Ripple, Indianapolis, IN
As of the latest ACS Survey released in 2023, Broad Ripple, Indianapolis, IN has a population of 29,200, which has increased by 4.8% over the past 5 years. Broad Ripple, Indianapolis, IN is a popular place for families, as children make up 26.1% of the population. The area has a highly educated workforce, with 51.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,200 | 4.8% |
% Under 18 | 26.1% | 18.6% |
% Seniors | 9.6% | -6.8% |
% WFH | 17.0% | 226.9% |
% w/ College Degree | 51.3% | 20.7% |
As of the latest ACS Survey released in 2023, Broad Ripple, Indianapolis, IN is a predominantly white area, with 50.1% of the population identifying as white. The white population has grown by 15.2% in the last 5 years. The second most common race or ethnicity in Broad Ripple, Indianapolis, IN is black, making up 32.8% of the population. Foreign-born residents account for 5.4% of the population in Broad Ripple, Indianapolis, IN, and this percentage has increased by 54.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 50.1% | 15.2% |
% Black | 32.8% | -31.8% |
% Hispanic | 6.7% | 55.8% |
% Asian | 2.6% | 62.5% |
% Foreign Born | 5.4% | 54.3% |
Mortgage and Risk — Broad Ripple, Indianapolis, IN
According to HUD data as of 2023, there were 544 mortgage originations in Broad Ripple, Indianapolis, IN, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Broad Ripple, Indianapolis, IN. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 544 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Broad Ripple, Indianapolis, IN
As of 2024, the percent of homes in Broad Ripple, Indianapolis, IN under the Section 8 program is 15.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Broad Ripple, Indianapolis, IN, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 905 |
Total Units Section 8 | 905 |
% Rentals under Section 8 | 15.3% |
% Occupied Section 8 | 77.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $225 | $875 | $1,100 |
| 2 Bedroom | -$10 | $1,300 | $1,290 |
| 3 Bedroom | -$20 | $1,700 | $1,680 |
| 4 Bedroom | -$260 | $2,300 | $2,040 |
Affordability — Broad Ripple, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $253,000 |
| Median Household Income | $65,800 |