Southwest Indianapolis, Indianapolis, IN—46235
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Southwest Indianapolis, Indianapolis, IN
As of Oct '25, the median home price in Southwest Indianapolis, Indianapolis, IN is $215,000, with a year-over-year change of 1.9%. This indicates that home prices in Southwest Indianapolis, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $215,000 | 1.9% |
| Single Family | $216,000 | 1.9% |
| Condos | $125,000 | -13.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $133,000 | -2.2% |
3 Bed | $207,000 | 1.5% |
4 Bed | $259,000 | 1.2% |
| 5 Bed | $319,000 | 0.3% |
% of Housing Stock
Rental Trends — Southwest Indianapolis, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Southwest Indianapolis, Indianapolis, IN is $1,710, with a year-over-year rent change of 6.2%. Per bedroom, the median rent as of July '25 in Southwest Indianapolis, Indianapolis, IN is studios: $780, 1-bedrooms: $838, 2-bedrooms: $1,220, 3-bedrooms: $1,680, 4-bedrooms: $1,920. The most common rental property sizes in Southwest Indianapolis, Indianapolis, IN are 3-bedroom and 2-bedroom, accounting for 41.2% and 34.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,740 | $1,710 |
| Studio Rent | $799 | $780 |
| 1 Bed Rent | $769 | $838 |
| 2 Bed Rent | $1,200 | $1,220 |
| 3 Bed Rent | $1,680 | $1,680 |
| 4 Bed Rent | $1,850 | $1,920 |
% of Rental Stock
Property Listings — Southwest Indianapolis, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Southwest Indianapolis, Indianapolis, IN is 50. This is a increase of 12.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $236,000 | -2.0% |
Listing Count | 99 | 9.0% |
| Listings as % of Homes | 0.5% | 9.0% |
Days on Market | 50 | 12.0% |
Demographics — Southwest Indianapolis, Indianapolis, IN
As of the latest ACS Survey released in 2023, Southwest Indianapolis, Indianapolis, IN has a population of 35,900, which has increased by 11.0% over the past 5 years. Southwest Indianapolis, Indianapolis, IN is a popular place for families, as children make up 33.6% of the population. The area has a poorly educated workforce, with 17.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,900 | 11.0% |
% Under 18 | 33.6% | 1.2% |
% Seniors | 7.3% | -1.4% |
% WFH | 7.8% | 143.8% |
% w/ College Degree | 17.1% | 15.5% |
As of the latest ACS Survey released in 2023, Southwest Indianapolis, Indianapolis, IN is a predominantly black area, with 56.9% of the population identifying as black. The black population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Southwest Indianapolis, Indianapolis, IN is white, making up 18.4% of the population. Foreign-born residents account for 10.5% of the population in Southwest Indianapolis, Indianapolis, IN, and this percentage has increased by 45.8% 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 | 18.4% | -31.6% |
% Black | 56.9% | -1.2% |
% Hispanic | 17.1% | 41.3% |
% Asian | 0.6% | 20.0% |
% Foreign Born | 10.5% | 45.8% |
Mortgage and Risk — Southwest Indianapolis, Indianapolis, IN
According to HUD data as of 2023, there were 601 mortgage originations in Southwest Indianapolis, Indianapolis, IN, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Southwest Indianapolis, Indianapolis, IN. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 601 |
% Conventional Loans | 56.0% |
% Government Loans | 44.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Southwest Indianapolis, Indianapolis, IN
As of 2024, the percent of homes in Southwest Indianapolis, Indianapolis, IN under the Section 8 program is 23.1%. 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. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Southwest Indianapolis, Indianapolis, IN, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,408 |
Total Units Section 8 | 1,408 |
% Rentals under Section 8 | 23.1% |
% Occupied Section 8 | 86.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $271 | $769 | $1,040 |
| 2 Bedroom | $20 | $1,200 | $1,220 |
| 3 Bedroom | -$90 | $1,680 | $1,590 |
| 4 Bedroom | $70 | $1,850 | $1,920 |
Affordability — Southwest Indianapolis, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $215,000 |
| Median Household Income | $56,200 |