Speedway, IN—46224
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Speedway, IN
As of Oct '25, the median home price in Speedway, IN is $199,000, with a year-over-year change of 3.5%. This indicates that home prices in Speedway, IN are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $199,000 | 3.5% |
| Single Family | $203,000 | 3.0% |
| Condos | $92,000 | 2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $193,000 | 4.3% |
3 Bed | $195,000 | 3.2% |
4 Bed | $231,000 | 3.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Speedway, IN
As of July '25, Rentcast reports the average rent in Speedway, IN is $1,200, with a year-over-year rent change of -7.7%. Per bedroom, the median rent as of July '25 in Speedway, IN is studios: $696, 1-bedrooms: $987, 2-bedrooms: $1,210, 3-bedrooms: $1,520, 4-bedrooms: $1,880. The most common rental property sizes in Speedway, IN are 1-bedroom and 2-bedroom, accounting for 36.8% and 36.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,200 |
| Studio Rent | $700 | $696 |
| 1 Bed Rent | $930 | $987 |
| 2 Bed Rent | $1,110 | $1,210 |
| 3 Bed Rent | $1,450 | $1,520 |
| 4 Bed Rent | $1,800 | $1,880 |
% of Rental Stock
Property Listings — Speedway, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Speedway, IN is 36. This is a decrease of -3.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $235,000 | -3.0% |
Listing Count | 57 | 14.0% |
| Listings as % of Homes | 0.3% | 14.0% |
Days on Market | 36 | -3.0% |
Demographics — Speedway, IN
As of the latest ACS Survey released in 2023, Speedway, IN has a population of 39,900, which has increased by 6.4% over the past 5 years. Speedway, IN is a popular place for families, as children make up 30.2% of the population. The area has a poorly educated workforce, with 24.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,900 | 6.4% |
% Under 18 | 30.2% | 3.8% |
% Seniors | 9.4% | 11.9% |
% WFH | 8.3% | 336.8% |
% w/ College Degree | 24.3% | 24.0% |
As of the latest ACS Survey released in 2023, Speedway, IN is a predominantly black area, with 38.9% of the population identifying as black. The black population has grown by 6.9% in the last 5 years. The second most common race or ethnicity in Speedway, IN is white, making up 33.4% of the population. Foreign-born residents account for 30.5% of the population in Speedway, IN, and this percentage has increased by 12.5% 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 | 33.4% | 5.4% |
% Black | 38.9% | 6.9% |
% Hispanic | 23.0% | -12.9% |
% Asian | 1.3% | -48.0% |
% Foreign Born | 30.5% | 12.5% |
Mortgage and Risk — Speedway, IN
According to HUD data as of 2023, there were 351 mortgage originations in Speedway, IN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Speedway, IN. Investor activity is low, as 3.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 351 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Speedway, IN
As of 2024, the percent of homes in Speedway, IN under the Section 8 program is 3.0%. 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 Speedway, 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 | 334 |
Total Units Section 8 | 305 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 81.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $930 | $1,040 |
| 2 Bedroom | $110 | $1,110 | $1,220 |
| 3 Bedroom | $140 | $1,450 | $1,590 |
| 4 Bedroom | $120 | $1,800 | $1,920 |
Affordability — Speedway, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $199,000 |
| Median Household Income | $53,700 |