Pike Area, Indianapolis, IN—46208
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pike Area, Indianapolis, IN
As of Oct '25, the median home price in Pike Area, Indianapolis, IN is $176,000, with a year-over-year change of 1.9%. This indicates that home prices in Pike Area, Indianapolis, IN are increasing. 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 | $176,000 | 2.0% |
| Single Family | $176,000 | 1.7% |
| Condos | $174,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $116,000 | 4.5% |
2 Bed | $136,000 | 3.8% |
3 Bed | $185,000 | 1.6% |
4 Bed | $285,000 | 2.5% |
| 5 Bed | $482,000 | 2.1% |
% of Housing Stock
Rental Trends — Pike Area, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Pike Area, Indianapolis, IN is $1,320, with a year-over-year rent change of 10.9%. Per bedroom, the median rent as of July '25 in Pike Area, Indianapolis, IN is studios: $779, 1-bedrooms: $888, 2-bedrooms: $1,290, 3-bedrooms: $1,510, 4-bedrooms: $2,130. The most common rental property sizes in Pike Area, Indianapolis, IN are 1-bedroom and 3-bedroom, accounting for 32.6% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,320 |
| Studio Rent | $715 | $779 |
| 1 Bed Rent | $850 | $888 |
| 2 Bed Rent | $1,200 | $1,290 |
| 3 Bed Rent | $1,500 | $1,510 |
| 4 Bed Rent | $1,850 | $2,130 |
% of Rental Stock
Property Listings — Pike Area, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Pike Area, Indianapolis, IN is 54. This is a decrease of -14.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $208,000 | -8.0% |
Listing Count | 146 | 5.0% |
| Listings as % of Homes | 0.9% | 5.0% |
Days on Market | 54 | -14.0% |
Demographics — Pike Area, Indianapolis, IN
As of the latest ACS Survey released in 2023, Pike Area, Indianapolis, IN has a population of 22,000, which has decreased by -4.6% over the past 5 years. Pike Area, Indianapolis, IN is a moderately popular place for families, as children make up 21.0% of the population. The area has a moderately educated workforce, with 40.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,000 | -4.6% |
% Under 18 | 21.0% | 5.5% |
% Seniors | 13.2% | 15.8% |
% WFH | 16.1% | 419.4% |
% w/ College Degree | 40.2% | 26.0% |
As of the latest ACS Survey released in 2023, Pike Area, Indianapolis, IN is a predominantly white area, with 46.1% of the population identifying as white. The white population has grown by 15.8% in the last 5 years. The second most common race or ethnicity in Pike Area, Indianapolis, IN is black, making up 40.2% of the population. Foreign-born residents account for 3.7% of the population in Pike Area, Indianapolis, IN, and this percentage has decreased by 15.9% 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 | 46.1% | 15.8% |
% Black | 40.2% | -20.2% |
% Hispanic | 7.7% | 71.1% |
% Asian | 1.6% | 23.1% |
% Foreign Born | 3.7% | -15.9% |
Mortgage and Risk — Pike Area, Indianapolis, IN
According to HUD data as of 2023, there were 389 mortgage originations in Pike Area, Indianapolis, IN, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Pike Area, Indianapolis, IN. Investor activity is low, as 8.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 389 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Pike Area, Indianapolis, IN
As of 2024, the percent of homes in Pike Area, Indianapolis, IN under the Section 8 program is 17.7%. 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. In Pike Area, 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 | 744 |
Total Units Section 8 | 717 |
% Rentals under Section 8 | 17.7% |
% Occupied Section 8 | 79.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $850 | $1,040 |
| 2 Bedroom | $20 | $1,200 | $1,220 |
| 3 Bedroom | $90 | $1,500 | $1,590 |
| 4 Bedroom | $70 | $1,850 | $1,920 |
Affordability — Pike Area, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $176,000 |
| Median Household Income | $55,400 |