Speedway, IN 46224 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Speedway, IN—46224

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$199,000

3.3% YoY Growth

Household Income

$53,700

49.0% YoY Growth

Days on Market

10.0% Shorter YoY

Home Price Forecast

2.7%

Median Rent

$1,100

7.7% YoY Growth

1-Bed Rent

$930

4.8% YoY Growth

2-Bed Rent

$1,110

4.7% YoY Growth

3-Bed Rent

$1,450

1.3% YoY Growth

Home Price Trends — Speedway, IN

As of Dec '25, the median home price in Speedway, IN is $199,000, with a year-over-year change of 3.3%. This indicates that home prices in Speedway, IN are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$199,000	3.3%
Single Family	$203,000	3.0%
Condos	$92,000	2.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

6.1%

1 Bedroom

36.8%

2 Bedrooms

36.3%

3 Bedrooms

17.9%

4 Bedrooms

2.2%

5+ Bedrooms

0.6%

Property Listings — Speedway, IN

As of Dec '25, Realtor.com reports that the median days on market for a home in Speedway, IN is 44. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$246,000	-6.0%
Listing Count	40	13.0%
Listings as % of Homes	0.3%	13.0%
Days on Market	40	-10.0%

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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%

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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%

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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%

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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

Speedway, IN—46224

Key Metrics at a Glance

Home Price Trends — Speedway, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Speedway, IN

% of Rental Stock

Property Listings — Speedway, IN

Demographics — Speedway, IN

Race and Ethnicity

Mortgage and Risk — Speedway, IN

Mortgages

Rentals and Section 8 — Speedway, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Speedway, IN

Home Price to Income Ratio

Speedway, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Lawrence Township, Indianapolis, IN

South Indianapolis Valley, Indianapolis, IN

Franklin Township, Indianapolis, IN

Beech Grove Fringe, Indianapolis, IN

West Indianapolis, Indianapolis, IN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.4
Median Home Price	$199,000
Median Household Income	$53,700

Speedway, IN—46224

Key Metrics at a Glance

Home Price Trends — Speedway, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Speedway, IN

% of Rental Stock

Property Listings — Speedway, IN

Demographics — Speedway, IN

Race and Ethnicity

Mortgage and Risk — Speedway, IN

Mortgages

Rentals and Section 8 — Speedway, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Speedway, IN

Home Price to Income Ratio

Speedway, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Lawrence Township, Indianapolis, IN

South Indianapolis Valley, Indianapolis, IN

Franklin Township, Indianapolis, IN

Beech Grove Fringe, Indianapolis, IN

West Indianapolis, Indianapolis, IN

Frequently Asked Questions

What is the average home price in Speedway, IN 46224?

How have home prices in Speedway, IN 46224 changed over the past year?

What is the home price projection for Speedway, IN 46224?

What are the demographics of Speedway, IN 46224?

How long does it take homes to sell in Speedway, IN 46224?

What is the average rent price in Speedway, IN 46224?