West Indianapolis, Indianapolis, IN—46241
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — West Indianapolis, Indianapolis, IN
As of Oct '25, the median home price in West Indianapolis, Indianapolis, IN is $154,000, with a year-over-year change of 1.9%. This indicates that home prices in West Indianapolis, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $154,000 | 2.0% |
| Single Family | $154,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $89,000 | 4.7% |
2 Bed | $124,000 | 2.5% |
3 Bed | $176,000 | 2.3% |
4 Bed | $199,000 | 2.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — West Indianapolis, Indianapolis, IN
As of July '25, Rentcast reports the average rent in West Indianapolis, Indianapolis, IN is $1,400, with a year-over-year rent change of 0.7%. Per bedroom, the median rent as of July '25 in West Indianapolis, Indianapolis, IN is studios: $1,500, 1-bedrooms: $771, 2-bedrooms: $1,200, 3-bedrooms: $1,520, 4-bedrooms: $1,780. The most common rental property sizes in West Indianapolis, Indianapolis, IN are 3-bedroom and 2-bedroom, accounting for 43.5% and 36.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,400 |
| Studio Rent | $1,490 | $1,500 |
| 1 Bed Rent | $699 | $771 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,540 | $1,520 |
| 4 Bed Rent | $1,900 | $1,780 |
% of Rental Stock
Property Listings — West Indianapolis, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in West Indianapolis, Indianapolis, IN is 35. This is a increase of 25.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $185,000 | 14.0% |
Listing Count | 91 | 12.0% |
| Listings as % of Homes | 0.4% | 12.0% |
Days on Market | 35 | 25.0% |
Demographics — West Indianapolis, Indianapolis, IN
As of the latest ACS Survey released in 2023, West Indianapolis, Indianapolis, IN has a population of 32,900, which has increased by 5.3% over the past 5 years. West Indianapolis, Indianapolis, IN is a popular place for families, as children make up 33.4% of the population. The area has a poorly educated workforce, with 14.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,900 | 5.3% |
% Under 18 | 33.4% | 8.1% |
% Seniors | 8.9% | -9.2% |
% WFH | 6.9% | 590.0% |
% w/ College Degree | 14.7% | 77.1% |
As of the latest ACS Survey released in 2023, West Indianapolis, Indianapolis, IN is a predominantly white area, with 50.1% of the population identifying as white. The white population has shrunk by 23.9% in the last 5 years. The second most common race or ethnicity in West Indianapolis, Indianapolis, IN is hispanic, making up 30.0% of the population. Foreign-born residents account for 14.3% of the population in West Indianapolis, Indianapolis, IN, and this percentage has increased by 45.9% 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 | 50.1% | -23.9% |
% Black | 14.6% | 0.7% |
% Hispanic | 30.0% | 87.5% |
% Asian | 0.4% | -60.0% |
% Foreign Born | 14.3% | 45.9% |
Mortgage and Risk — West Indianapolis, Indianapolis, IN
According to HUD data as of 2023, there were 489 mortgage originations in West Indianapolis, Indianapolis, IN, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in West Indianapolis, Indianapolis, IN. Investor activity is low, as 1.0% 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 | 489 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — West Indianapolis, Indianapolis, IN
As of 2024, the percent of homes in West Indianapolis, Indianapolis, IN under the Section 8 program is 13.4%. 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 West Indianapolis, 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 | 687 |
Total Units Section 8 | 686 |
% Rentals under Section 8 | 13.4% |
% Occupied Section 8 | 82.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $351 | $699 | $1,050 |
| 2 Bedroom | $30 | $1,200 | $1,230 |
| 3 Bedroom | $60 | $1,540 | $1,600 |
| 4 Bedroom | $40 | $1,900 | $1,940 |
Affordability — West Indianapolis, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $154,000 |
| Median Household Income | $51,600 |