Greenwood, Indianapolis, IN—46278
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Greenwood, Indianapolis, IN
As of Oct '25, the median home price in Greenwood, Indianapolis, IN is $420,000, with a year-over-year change of 3.0%. This indicates that home prices in Greenwood, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $420,000 | 3.0% |
| Single Family | $451,000 | 3.4% |
| Condos | $195,000 | 3.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $214,000 | 2.9% |
3 Bed | $310,000 | 2.0% |
4 Bed | $478,000 | 3.7% |
| 5 Bed | $684,000 | 1.9% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,810 |
| Studio Rent | $2,160 | $2,160 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,400 | $1,400 |
| 3 Bed Rent | $1,900 | $1,830 |
| 4 Bed Rent | $1,740 | $1,740 |
% of Rental Stock
Property Listings — Greenwood, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Greenwood, Indianapolis, IN is 36. This is a decrease of -4.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $515,000 | -8.0% |
Listing Count | 36 | -3.0% |
| Listings as % of Homes | 0.5% | -3.0% |
Days on Market | 36 | -4.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,730 | 3.0% |
% Under 18 | 22.1% | 0.9% |
% Seniors | 16.2% | 15.7% |
% WFH | 19.5% | 200.0% |
% w/ College Degree | 62.2% | 6.0% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $420,000 |
| Median Household Income | $154,000 |