Northwest Indianapolis, Indianapolis, IN—46220
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northwest Indianapolis, Indianapolis, IN
As of Nov '25, the median home price in Northwest Indianapolis, Indianapolis, IN is $336,000, with a year-over-year change of 1.2%. This indicates that home prices in Northwest Indianapolis, Indianapolis, IN are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $336,000 | 1.2% |
| Single Family | $340,000 | 0.9% |
| Condos | $283,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $214,000 | 3.4% |
2 Bed | $282,000 | 0.7% |
3 Bed | $337,000 | 0.9% |
4 Bed | $476,000 | 3.0% |
| 5 Bed | $666,702 | 2.7% |
% of Housing Stock
Rental Trends — Northwest Indianapolis, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Northwest Indianapolis, Indianapolis, IN is $1,620, with a year-over-year rent change of -14.7%. Per bedroom, the median rent as of July '25 in Northwest Indianapolis, Indianapolis, IN is studios: $1,010, 1-bedrooms: $1,160, 2-bedrooms: $1,680, 3-bedrooms: $2,040, 4-bedrooms: $2,580. The most common rental property sizes in Northwest Indianapolis, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 50.0% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,620 |
| Studio Rent | $875 | $1,010 |
| 1 Bed Rent | $1,090 | $1,160 |
| 2 Bed Rent | $1,650 | $1,680 |
| 3 Bed Rent | $1,950 | $2,040 |
| 4 Bed Rent | $2,000 | $2,580 |
% of Rental Stock
Property Listings — Northwest Indianapolis, Indianapolis, IN
As of Nov '25, Realtor.com reports that the median days on market for a home in Northwest Indianapolis, Indianapolis, IN is 44. This is a increase of 7.0% 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 45.0%, 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 | 2.0% |
Listing Count | 142 | -3.0% |
| Listings as % of Homes | 0.4% | -3.0% |
Days on Market | 44 | 7.0% |
Demographics — Northwest Indianapolis, Indianapolis, IN
As of the latest ACS Survey released in 2023, Northwest Indianapolis, Indianapolis, IN has a population of 36,200, which has decreased by -1.6% over the past 5 years. Northwest Indianapolis, Indianapolis, IN is a moderately popular place for families, as children make up 20.9% of the population. The area has a highly educated workforce, with 66.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,200 | -1.6% |
% Under 18 | 20.9% | 11.8% |
% Seniors | 14.4% | 16.1% |
% WFH | 24.7% | 311.7% |
% w/ College Degree | 66.9% | 5.9% |
As of the latest ACS Survey released in 2023, Northwest Indianapolis, Indianapolis, IN is a predominantly white area, with 75.3% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Northwest Indianapolis, Indianapolis, IN is black, making up 12.1% of the population. Foreign-born residents account for 3.9% of the population in Northwest Indianapolis, Indianapolis, IN, and this percentage has decreased by 18.8% 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 | 75.3% | -5.5% |
% Black | 12.1% | 1.7% |
% Hispanic | 4.8% | 41.2% |
% Asian | 1.6% | -30.4% |
% Foreign Born | 3.9% | -18.8% |
Mortgage and Risk — Northwest Indianapolis, Indianapolis, IN
According to HUD data as of 2023, there were 995 mortgage originations in Northwest Indianapolis, Indianapolis, IN, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Northwest Indianapolis, Indianapolis, IN. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 995 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Northwest Indianapolis, Indianapolis, IN
As of 2024, the percent of homes in Northwest Indianapolis, Indianapolis, IN under the Section 8 program is 3.5%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Northwest Indianapolis, Indianapolis, IN, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 204 |
Total Units Section 8 | 204 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $1,090 | $1,240 |
| 2 Bedroom | -$200 | $1,650 | $1,450 |
| 3 Bedroom | -$60 | $1,950 | $1,890 |
| 4 Bedroom | $290 | $2,000 | $2,290 |
Affordability — Northwest Indianapolis, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $336,000 |
| Median Household Income | $104,000 |