Carmel North, Indianapolis, IN—46226
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carmel North, Indianapolis, IN
As of Oct '25, the median home price in Carmel North, Indianapolis, IN is $160,000, with a year-over-year change of 1.9%. This indicates that home prices in Carmel North, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $160,000 | 1.9% |
| Single Family | $160,000 | 1.3% |
| Condos | $165,000 | 3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $140,000 | 2.2% |
3 Bed | $161,000 | 1.3% |
4 Bed | $196,000 | 2.1% |
| 5 Bed | $292,000 | 2.8% |
% of Housing Stock
Rental Trends — Carmel North, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Carmel North, Indianapolis, IN is $1,330, with a year-over-year rent change of 3.1%. Per bedroom, the median rent as of July '25 in Carmel North, Indianapolis, IN is studios: $858, 1-bedrooms: $872, 2-bedrooms: $1,030, 3-bedrooms: $1,430, 4-bedrooms: $1,630. The most common rental property sizes in Carmel North, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 43.9% and 25.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,330 |
| Studio Rent | $829 | $858 |
| 1 Bed Rent | $895 | $872 |
| 2 Bed Rent | $995 | $1,030 |
| 3 Bed Rent | $1,400 | $1,430 |
| 4 Bed Rent | $1,540 | $1,630 |
% of Rental Stock
Property Listings — Carmel North, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Carmel North, Indianapolis, IN is 52. This is a increase of 18.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $189,000 | -3.0% |
Listing Count | 135 | 14.0% |
| Listings as % of Homes | 0.4% | 14.0% |
Days on Market | 52 | 18.0% |
Demographics — Carmel North, Indianapolis, IN
As of the latest ACS Survey released in 2023, Carmel North, Indianapolis, IN has a population of 45,600, which has remained stable by -1.0% over the past 5 years. Carmel North, Indianapolis, IN is a popular place for families, as children make up 26.7% of the population. The area has a poorly educated workforce, with 23.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,600 | -1.0% |
% Under 18 | 26.7% | -2.2% |
% Seniors | 12.0% | -7.0% |
% WFH | 14.1% | 513.0% |
% w/ College Degree | 23.8% | 24.6% |
As of the latest ACS Survey released in 2023, Carmel North, Indianapolis, IN is a predominantly black area, with 53.8% of the population identifying as black. The black population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Carmel North, Indianapolis, IN is white, making up 25.1% of the population. Foreign-born residents account for 10.7% of the population in Carmel North, Indianapolis, IN, and this percentage has increased by 28.9% 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 | 25.1% | -6.0% |
% Black | 53.8% | -2.7% |
% Hispanic | 16.6% | 24.8% |
% Asian | 1.5% | 200.0% |
% Foreign Born | 10.7% | 28.9% |
Mortgage and Risk — Carmel North, Indianapolis, IN
According to HUD data as of 2023, there were 576 mortgage originations in Carmel North, Indianapolis, IN, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Carmel North, Indianapolis, IN. Investor activity is low, as 4.0% 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 | 576 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Carmel North, Indianapolis, IN
As of 2024, the percent of homes in Carmel North, Indianapolis, IN under the Section 8 program is 9.2%. 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 Carmel North, 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 | 1,099 |
Total Units Section 8 | 949 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 77.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $145 | $895 | $1,040 |
| 2 Bedroom | $225 | $995 | $1,220 |
| 3 Bedroom | $190 | $1,400 | $1,590 |
| 4 Bedroom | $380 | $1,540 | $1,920 |
Affordability — Carmel North, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $160,000 |
| Median Household Income | $47,100 |