Pike Township, Indianapolis, IN—46229
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pike Township, Indianapolis, IN
As of Oct '25, the median home price in Pike Township, Indianapolis, IN is $217,000, with a year-over-year change of 1.0%. This indicates that home prices in Pike Township, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $217,000 | 1.0% |
| Single Family | $220,000 | 0.9% |
| Condos | $154,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $164,000 | 2.5% |
3 Bed | $209,000 | 0.5% |
4 Bed | $246,000 | 1.2% |
| 5 Bed | $296,000 | 0.3% |
% of Housing Stock
Rental Trends — Pike Township, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Pike Township, Indianapolis, IN is $1,570, with a year-over-year rent change of -1.9%. Per bedroom, the median rent as of July '25 in Pike Township, Indianapolis, IN is studios: $825, 1-bedrooms: $894, 2-bedrooms: $1,140, 3-bedrooms: $1,680, 4-bedrooms: $1,920. The most common rental property sizes in Pike Township, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 46.6% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,570 |
| Studio Rent | $825 | $825 |
| 1 Bed Rent | $850 | $894 |
| 2 Bed Rent | $1,100 | $1,140 |
| 3 Bed Rent | $1,680 | $1,680 |
| 4 Bed Rent | $1,880 | $1,920 |
% of Rental Stock
Property Listings — Pike Township, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Pike Township, Indianapolis, IN is 43. This is a increase of 44.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $237,000 | 3.0% |
Listing Count | 107 | 31.0% |
| Listings as % of Homes | 0.5% | 31.0% |
Days on Market | 43 | 44.0% |
Demographics — Pike Township, Indianapolis, IN
As of the latest ACS Survey released in 2023, Pike Township, Indianapolis, IN has a population of 28,300, which has decreased by -1.6% over the past 5 years. Pike Township, Indianapolis, IN is a popular place for families, as children make up 26.3% of the population. The area has a moderately educated workforce, with 26.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,300 | -1.6% |
% Under 18 | 26.3% | 0.4% |
% Seniors | 14.3% | 12.6% |
% WFH | 11.8% | 742.9% |
% w/ College Degree | 26.3% | 46.1% |
As of the latest ACS Survey released in 2023, Pike Township, Indianapolis, IN is a predominantly black area, with 50.3% of the population identifying as black. The black population has grown by 11.3% in the last 5 years. The second most common race or ethnicity in Pike Township, Indianapolis, IN is white, making up 32.4% of the population. Foreign-born residents account for 6.5% of the population in Pike Township, Indianapolis, IN, and this percentage has increased by 12.1% 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 | 32.4% | -27.0% |
% Black | 50.3% | 11.3% |
% Hispanic | 9.4% | 42.4% |
% Asian | 2.5% | 56.2% |
% Foreign Born | 6.5% | 12.1% |
Mortgage and Risk — Pike Township, Indianapolis, IN
According to HUD data as of 2023, there were 427 mortgage originations in Pike Township, Indianapolis, IN, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Pike Township, Indianapolis, IN. Investor activity is low, as 1.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 427 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Pike Township, Indianapolis, IN
As of 2024, the percent of homes in Pike Township, Indianapolis, IN under the Section 8 program is 12.9%. 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. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Pike Township, Indianapolis, IN, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 601 |
Total Units Section 8 | 554 |
% Rentals under Section 8 | 12.9% |
% Occupied Section 8 | 77.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $850 | $1,040 |
| 2 Bedroom | $120 | $1,100 | $1,220 |
| 3 Bedroom | -$90 | $1,680 | $1,590 |
| 4 Bedroom | $40 | $1,880 | $1,920 |
Affordability — Pike Township, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $217,000 |
| Median Household Income | $63,000 |