Speedway/Wayne Area, Indianapolis, IN—46256
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Speedway/Wayne Area, Indianapolis, IN
As of Oct '25, the median home price in Speedway/Wayne Area, Indianapolis, IN is $338,000, with a year-over-year change of 2.0%. This indicates that home prices in Speedway/Wayne Area, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | 2.0% |
| Single Family | $352,000 | 1.7% |
| Condos | $208,000 | 7.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $220,000 | 1.9% |
3 Bed | $309,000 | 1.3% |
4 Bed | $424,000 | 1.7% |
| 5 Bed | $651,000 | 1.7% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,780 | $1,640 |
| Studio Rent | $947 | $947 |
| 1 Bed Rent | $1,030 | $901 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,840 | $1,920 |
| 4 Bed Rent | $2,210 | $2,270 |
% of Rental Stock
Property Listings — Speedway/Wayne Area, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Speedway/Wayne Area, Indianapolis, IN is 44. This is a decrease of -8.0% 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 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | 1.0% |
Listing Count | 88 | 17.0% |
| Listings as % of Homes | 0.4% | 17.0% |
Days on Market | 44 | -8.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,030 | $1,070 |
| 2 Bedroom | N/A | N/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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $338,000 |
| Median Household Income | $86,500 |