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Greenwood, Indianapolis, IN—46278

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$418,000
3.2% YoY Growth
Household Income
$154,000
40.1% YoY Growth
Days on Market
75
35.0% Longer YoY
Home Price Forecast
2.4%
Median Rent
$1,850
2.2% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
$1,400
15.2% YoY Growth
3-Bed Rent
$1,900
2.2% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Greenwood, Indianapolis, IN

As of Dec '25, the median home price in Greenwood, Indianapolis, IN is $418,000, with a year-over-year change of 3.2%. This indicates that home prices in Greenwood, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$418,0003.2%
Single Family $447,0003.5%
Condos $196,0004.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$214,0003.4%
    3 Bed
    		$309,0002.0%
    4 Bed
    		$473,0003.7%
    5 Bed $672,7342.1%
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    % of Housing Stock

    1 Bedroom
    3.1%
    2 Bedrooms
    8.1%
    3 Bedrooms
    38.3%
    4 Bedrooms
    30.9%
    5+ Bedrooms
    19.6%

    Rental Trends — Greenwood, Indianapolis, IN

    As of July '25, Rentcast reports the average rent in Greenwood, Indianapolis, IN is $1,810, with a year-over-year rent change of -2.2%. Per bedroom, the median rent as of July '25 in Greenwood, Indianapolis, IN is studios: $2,160, 2-bedrooms: $1,400, 3-bedrooms: $1,830, 4-bedrooms: $1,740. The most common rental property sizes in Greenwood, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 50.8% and 27.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,850$1,810
    Studio Rent $2,160$2,160
    1 Bed Rent N/AN/A
    2 Bed Rent $1,400$1,400
    3 Bed Rent $1,900$1,830
    4 Bed Rent $1,740$1,740
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    % of Rental Stock

    1 Bedroom
    27.1%
    2 Bedrooms
    50.8%
    3 Bedrooms
    15.3%
    4 Bedrooms
    6.8%

    Property Listings — Greenwood, Indianapolis, IN

    As of Dec '25, Realtor.com reports that the median days on market for a home in Greenwood, Indianapolis, IN is 56. This is a increase of 9.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$364,000-11.0%
    Listing Count
    		30-4.0%
    Listings as % of Homes0.5%-4.0%
    Days on Market
    		7535.0%
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    Demographics — Greenwood, Indianapolis, IN

    As of the latest ACS Survey released in 2023, Greenwood, Indianapolis, IN has a population of 8,730, which has increased by 3.0% over the past 5 years. Greenwood, Indianapolis, IN is a moderately popular place for families, as children make up 22.1% of the population. The area has a highly educated workforce, with 62.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.5% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		8,7303.0%
    % Under 18
    		22.1%0.9%
    % Seniors
    		16.2%15.7%
    % WFH
    		19.5%200.0%
    % w/ College Degree
    		62.2%6.0%
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    As of the latest ACS Survey released in 2023, Greenwood, Indianapolis, IN is a predominantly white area, with 61.5% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Greenwood, Indianapolis, IN is black, making up 25.2% of the population. Foreign-born residents account for 5.5% of the population in Greenwood, Indianapolis, IN, and this percentage has decreased by 40.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		61.5%-0.6%
    % Black
    		25.2%-4.2%
    % Hispanic
    		5.4%1.9%
    % Asian
    		5.8%65.7%
    % Foreign Born
    		5.5%-40.2%
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    Mortgage and Risk — Greenwood, Indianapolis, IN

    According to HUD data as of 2023, there were 188 mortgage originations in Greenwood, Indianapolis, IN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Greenwood, Indianapolis, IN. Investor activity is low, as 2.0% 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
    		188
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		14.0%
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    Rentals and Section 8 — Greenwood, Indianapolis, IN

    Greenwood, Indianapolis, IN lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		1
    Total Units Section 8
    		1
    % Rentals under Section 8
    		0.8%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$1,280
    2 Bedroom$100$1,400$1,500
    3 Bedroom$50$1,900$1,950
    4 Bedroom$630$1,740$2,370

    Affordability — Greenwood, Indianapolis, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.5
    Median Home Price$418,000
    Median Household Income$154,000

    Greenwood, Indianapolis, IN — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    46254

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    Frequently Asked Questions