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Speedway/Wayne Area, Indianapolis, IN—46256

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$337,000
1.9% YoY Growth
Household Income
$86,500
29.5% YoY Growth
Days on Market
61
4.0% Shorter YoY
Home Price Forecast
2.2%
Median Rent
$1,780
19.2% YoY Growth
1-Bed Rent
$1,030
20.1% YoY Growth
2-Bed Rent
N/A
N/A
3-Bed Rent
$1,840
4.5% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Speedway/Wayne Area, Indianapolis, IN

As of Dec '25, the median home price in Speedway/Wayne Area, Indianapolis, IN is $337,000, with a year-over-year change of 1.9%. This indicates that home prices in Speedway/Wayne Area, 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 TypeMedian Home ValueYoY % Change
All Homes
$337,0001.9%
Single Family $351,0001.7%
Condos $208,0007.8%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$220,0002.3%
    3 Bed
    		$309,0001.6%
    4 Bed
    		$421,0001.7%
    5 Bed $645,0011.6%
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    % of Housing Stock

    Studio
    1.9%
    1 Bedroom
    10.2%
    2 Bedrooms
    18.1%
    3 Bedrooms
    38.3%
    4 Bedrooms
    27.3%
    5+ Bedrooms
    4.1%

    Rental Trends — Speedway/Wayne Area, Indianapolis, IN

    As of July '25, Rentcast reports the average rent in Speedway/Wayne Area, Indianapolis, IN is $1,640, with a year-over-year rent change of -19.2%. Per bedroom, the median rent as of July '25 in Speedway/Wayne Area, Indianapolis, IN is studios: $947, 1-bedrooms: $901, 3-bedrooms: $1,920, 4-bedrooms: $2,270. The most common rental property sizes in Speedway/Wayne Area, Indianapolis, IN are 1-bedroom and 2-bedroom, accounting for 37.4% and 35.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,780$1,640
    Studio Rent $947$947
    1 Bed Rent $1,030$901
    2 Bed Rent N/AN/A
    3 Bed Rent $1,840$1,920
    4 Bed Rent $2,210$2,270
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    % of Rental Stock

    Studio
    5.7%
    1 Bedroom
    37.4%
    2 Bedrooms
    35.7%
    3 Bedrooms
    17.2%
    4 Bedrooms
    2.8%
    5+ Bedrooms
    1.2%

    Property Listings — Speedway/Wayne Area, Indianapolis, IN

    As of Dec '25, Realtor.com reports that the median days on market for a home in Speedway/Wayne Area, Indianapolis, IN is 51. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 41.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$327,000-5.0%
    Listing Count
    		7614.0%
    Listings as % of Homes0.4%14.0%
    Days on Market
    		61-4.0%
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    Demographics — Speedway/Wayne Area, Indianapolis, IN

    As of the latest ACS Survey released in 2023, Speedway/Wayne Area, Indianapolis, IN has a population of 21,800, which has decreased by -7.3% over the past 5 years. Speedway/Wayne Area, Indianapolis, IN is a moderately popular place for families, as children make up 22.4% of the population. The area has a highly educated workforce, with 57.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		21,800-7.3%
    % Under 18
    		22.4%25.1%
    % Seniors
    		17.9%11.9%
    % WFH
    		20.2%274.1%
    % w/ College Degree
    		57.0%3.6%
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    As of the latest ACS Survey released in 2023, Speedway/Wayne Area, Indianapolis, IN is a predominantly white area, with 69.0% of the population identifying as white. The white population has shrunk by 11.8% in the last 5 years. The second most common race or ethnicity in Speedway/Wayne Area, Indianapolis, IN is black, making up 13.0% of the population. Foreign-born residents account for 6.9% of the population in Speedway/Wayne Area, Indianapolis, IN, and this percentage has decreased by 1.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		69.0%-11.8%
    % Black
    		13.0%4.8%
    % Hispanic
    		9.6%118.2%
    % Asian
    		5.2%67.7%
    % Foreign Born
    		6.9%-1.4%
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    Mortgage and Risk — Speedway/Wayne Area, Indianapolis, IN

    According to HUD data as of 2023, there were 451 mortgage originations in Speedway/Wayne Area, Indianapolis, IN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Speedway/Wayne Area, 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

    MetricZip Code Average
    Total Loan Originations
    		451
    % Conventional Loans
    		86.0%
    % Government Loans
    		14.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		14.0%
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    Rentals and Section 8 — Speedway/Wayne Area, Indianapolis, IN

    Speedway/Wayne Area, Indianapolis, IN lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		141
    Total Units Section 8
    		141
    % Rentals under Section 8
    		5.6%
    % Occupied Section 8
    		99.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$40$1,030$1,070
    2 BedroomN/AN/A$1,250
    3 Bedroom-$210$1,840$1,630
    4 Bedroom-$230$2,210$1,980

    Affordability — Speedway/Wayne Area, Indianapolis, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.7
    Median Home Price$337,000
    Median Household Income$86,500

    Speedway/Wayne Area, Indianapolis, IN — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Lawrence, IN

    46216

    Lawrence, IN

    46236

    Beech Grove, Indianapolis, IN

    46250

    Fishers, IN

    46038

    Southwest Indianapolis, Indianapolis, IN

    46235

    Frequently Asked Questions