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  5. /Near East Side, Indianapolis, IN - 46203

Near East Side, Indianapolis, IN—46203

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$169,000
1.6% YoY Growth
Household Income
$55,400
47.3% YoY Growth
Days on Market
45
1.0% Shorter YoY
Home Price Forecast
0.9%
Median Rent
$1,400
2.6% YoY Growth
1-Bed Rent
$850
4.5% YoY Growth
2-Bed Rent
$1,240
4.3% YoY Growth
3-Bed Rent
$1,700
5.4% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Near East Side, Indianapolis, IN

As of May '26, the median home price in Near East Side, Indianapolis, IN is $169,000, with a year-over-year change of -1.6%. This indicates that home prices in Near East Side, Indianapolis, IN are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$169,000-1.6%
Single Family $168,000-2.3%
Condos $177,000-0.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $114,000
    -4.2%
    2 Bed
    		$140,000-3.4%
    3 Bed
    		$185,000-2.1%
    4 Bed
    		$257,000-1.2%
    5 Bed $260,907-3.4%
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    % of Housing Stock

    Studio
    2.1%
    1 Bedroom
    9.4%
    2 Bedrooms
    40.0%
    3 Bedrooms
    37.6%
    4 Bedrooms
    9.9%
    5+ Bedrooms
    1.1%

    Rental Trends — Near East Side, Indianapolis, IN

    As of July '25, Rentcast reports the average rent in Near East Side, Indianapolis, IN is $1,570, with a year-over-year rent change of 2.6%. Per bedroom, the median rent as of July '25 in Near East Side, Indianapolis, IN is studios: $1,210, 1-bedrooms: $970, 2-bedrooms: $1,330, 3-bedrooms: $1,760, 4-bedrooms: $2,860. The most common rental property sizes in Near East Side, Indianapolis, IN are 2-bedroom and 3-bedroom, accounting for 45.6% and 26.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,400$1,570
    Studio Rent $1,110$1,210
    1 Bed Rent $850$970
    2 Bed Rent $1,240$1,330
    3 Bed Rent $1,700$1,760
    4 Bed Rent $2,600$2,860
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    % of Rental Stock

    Studio
    3.6%
    1 Bedroom
    21.2%
    2 Bedrooms
    45.6%
    3 Bedrooms
    26.4%
    4 Bedrooms
    2.9%
    5+ Bedrooms
    0.3%

    Property Listings — Near East Side, Indianapolis, IN

    As of May '26, Realtor.com reports that the median days on market for a home in Near East Side, Indianapolis, IN is 45. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 40.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$237,000-6.0%
    Listing Count
    		32312.0%
    Listings as % of Homes1.0%12.0%
    Days on Market
    		45-1.0%
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    Demographics — Near East Side, Indianapolis, IN

    As of the latest ACS Survey released in 2023, Near East Side, Indianapolis, IN has a population of 37,300, which has decreased by -4.9% over the past 5 years. Near East Side, Indianapolis, IN is a moderately popular place for families, as children make up 22.2% of the population. The area has a moderately educated workforce, with 26.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		37,300-4.9%
    % Under 18
    		22.2%-18.1%
    % Seniors
    		12.3%4.2%
    % WFH
    		12.0%328.6%
    % w/ College Degree
    		26.4%57.1%
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    As of the latest ACS Survey released in 2023, Near East Side, Indianapolis, IN is a predominantly white area, with 69.1% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Near East Side, Indianapolis, IN is hispanic, making up 14.1% of the population. Foreign-born residents account for 7.9% of the population in Near East Side, Indianapolis, IN, and this percentage has increased by 38.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		69.1%-2.9%
    % Black
    		12.0%-16.1%
    % Hispanic
    		14.1%27.0%
    % Asian
    		1.8%157.1%
    % Foreign Born
    		7.9%38.6%
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    Mortgage and Risk — Near East Side, Indianapolis, IN

    According to HUD data as of 2023, there were 795 mortgage originations in Near East Side, Indianapolis, IN, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Near East Side, Indianapolis, IN. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		795
    % Conventional Loans
    		74.0%
    % Government Loans
    		26.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		12.0%
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    Rentals and Section 8 — Near East Side, Indianapolis, IN

    As of 2024, the percent of homes in Near East Side, Indianapolis, IN under the Section 8 program is 13.8%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Near East Side, Indianapolis, IN, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		988
    Total Units Section 8
    		966
    % Rentals under Section 8
    		13.8%
    % Occupied Section 8
    		71.4%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$190$850$1,040
    2 Bedroom-$20$1,240$1,220
    3 Bedroom-$110$1,700$1,590
    4 Bedroom-$680$2,600$1,920

    Affordability — Near East Side, Indianapolis, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.1
    Median Home Price$169,000
    Median Household Income$55,400

    Near East Side, Indianapolis, IN — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Beech Grove, IN

    46107

    Downtown Indianapolis, Indianapolis, IN

    46201

    Indianapolis, IN

    46225

    Wayne Township, Indianapolis, IN

    46237

    Indianapolis, IN

    46219

    Frequently Asked Questions