Downtown East, Indianapolis, IN—46204
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown East, Indianapolis, IN
As of Oct '25, the median home price in Downtown East, Indianapolis, IN is $346,000, with a year-over-year change of 1.9%. This indicates that home prices in Downtown East, 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 | $346,000 | 2.0% |
| Single Family | N/A | N/A |
| Condos | $332,000 | 2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $211,000 | 1.0% |
2 Bed | $375,000 | 1.1% |
3 Bed | $598,000 | 1.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown East, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Downtown East, Indianapolis, IN is $1,900, with a year-over-year rent change of 13.8%. Per bedroom, the median rent as of July '25 in Downtown East, Indianapolis, IN is studios: $1,320, 1-bedrooms: $1,330, 2-bedrooms: $2,610, 3-bedrooms: $6,200. The most common rental property sizes in Downtown East, Indianapolis, IN are 1-bedroom and 2-bedroom, accounting for 53.9% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,900 |
| Studio Rent | $1,220 | $1,320 |
| 1 Bed Rent | $1,260 | $1,330 |
| 2 Bed Rent | $2,400 | $2,610 |
| 3 Bed Rent | $6,200 | $6,200 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Downtown East, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown East, Indianapolis, IN is 81. This is a decrease of -10.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $429,000 | 8.0% |
Listing Count | 48 | -7.0% |
| Listings as % of Homes | 0.4% | -7.0% |
Days on Market | 81 | -10.0% |
Demographics — Downtown East, Indianapolis, IN
As of the latest ACS Survey released in 2023, Downtown East, Indianapolis, IN has a population of 11,000, which has increased by 37.6% over the past 5 years. Downtown East, Indianapolis, IN is a less popular place for families, as children make up 1.5% of the population. The area has a highly educated workforce, with 60.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,000 | 37.6% |
% Under 18 | 1.5% | -59.5% |
% Seniors | 5.1% | -5.6% |
% WFH | 21.6% | 315.4% |
% w/ College Degree | 60.8% | 25.9% |
As of the latest ACS Survey released in 2023, Downtown East, Indianapolis, IN is a predominantly white area, with 66.3% of the population identifying as white. The white population has grown by 7.6% in the last 5 years. The second most common race or ethnicity in Downtown East, Indianapolis, IN is black, making up 18.2% of the population. Foreign-born residents account for 10.4% of the population in Downtown East, Indianapolis, IN, and this percentage has increased by 35.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.3% | 7.6% |
% Black | 18.2% | -31.1% |
% Hispanic | 6.6% | 11.9% |
% Asian | 4.8% | 4.3% |
% Foreign Born | 10.4% | 35.1% |
Mortgage and Risk — Downtown East, Indianapolis, IN
According to HUD data as of 2023, there were 78 mortgage originations in Downtown East, Indianapolis, IN, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Downtown East, Indianapolis, IN. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 78 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 3.0% |
% Second Loans | 8.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Downtown East, Indianapolis, IN
Downtown East, Indianapolis, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 521 |
Total Units Section 8 | 149 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 77.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $360 | $1,260 | $1,620 |
| 2 Bedroom | -$500 | $2,400 | $1,900 |
| 3 Bedroom | -$3,730 | $6,200 | $2,470 |
| 4 Bedroom | N/A | N/A | $3,000 |
Affordability — Downtown East, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $346,000 |
| Median Household Income | $88,100 |