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  5. /Southwest Indianapolis, Indianapolis, IN - 46235

Southwest Indianapolis, Indianapolis, IN—46235

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$219,000
1.2% YoY Growth
Household Income
$56,200
55.3% YoY Growth
Days on Market
35
3.0% Shorter YoY
Home Price Forecast
0.9%
Median Rent
$1,740
6.2% YoY Growth
1-Bed Rent
$769
23.8% YoY Growth
2-Bed Rent
$1,200
2.5% YoY Growth
3-Bed Rent
$1,680
6.3% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Southwest Indianapolis, Indianapolis, IN

As of May '26, the median home price in Southwest Indianapolis, Indianapolis, IN is $219,000, with a year-over-year change of -1.2%. This indicates that home prices in Southwest Indianapolis, 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
$219,000-1.2%
Single Family $219,000-2.2%
Condos $144,000-5.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$132,000-3.6%
    3 Bed
    		$208,000-1.9%
    4 Bed
    		$265,000-1.1%
    5 Bed $324,391-0.3%
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    % of Housing Stock

    Studio
    2.2%
    1 Bedroom
    9.8%
    2 Bedrooms
    22.4%
    3 Bedrooms
    48.3%
    4 Bedrooms
    15.8%
    5+ Bedrooms
    1.5%

    Rental Trends — Southwest Indianapolis, Indianapolis, IN

    As of July '25, Rentcast reports the average rent in Southwest Indianapolis, Indianapolis, IN is $1,710, with a year-over-year rent change of 6.2%. Per bedroom, the median rent as of July '25 in Southwest Indianapolis, Indianapolis, IN is studios: $780, 1-bedrooms: $838, 2-bedrooms: $1,220, 3-bedrooms: $1,680, 4-bedrooms: $1,920. The most common rental property sizes in Southwest Indianapolis, Indianapolis, IN are 3-bedroom and 2-bedroom, accounting for 41.2% and 34.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,740$1,710
    Studio Rent $799$780
    1 Bed Rent $769$838
    2 Bed Rent $1,200$1,220
    3 Bed Rent $1,680$1,680
    4 Bed Rent $1,850$1,920
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    % of Rental Stock

    Studio
    3.7%
    1 Bedroom
    17.3%
    2 Bedrooms
    34.1%
    3 Bedrooms
    41.2%
    4 Bedrooms
    2.7%
    5+ Bedrooms
    1.0%

    Property Listings — Southwest Indianapolis, Indianapolis, IN

    As of May '26, Realtor.com reports that the median days on market for a home in Southwest Indianapolis, Indianapolis, IN is 35. This is a decrease of -3.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$250,0002.0%
    Listing Count
    		12226.0%
    Listings as % of Homes0.5%26.0%
    Days on Market
    		35-3.0%
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    Demographics — Southwest Indianapolis, Indianapolis, IN

    As of the latest ACS Survey released in 2023, Southwest Indianapolis, Indianapolis, IN has a population of 35,900, which has increased by 11.0% over the past 5 years. Southwest Indianapolis, Indianapolis, IN is a popular place for families, as children make up 33.6% of the population. The area has a poorly educated workforce, with 17.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		35,90011.0%
    % Under 18
    		33.6%1.2%
    % Seniors
    		7.3%-1.4%
    % WFH
    		7.8%143.8%
    % w/ College Degree
    		17.1%15.5%
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    As of the latest ACS Survey released in 2023, Southwest Indianapolis, Indianapolis, IN is a predominantly black area, with 56.9% of the population identifying as black. The black population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Southwest Indianapolis, Indianapolis, IN is white, making up 18.4% of the population. Foreign-born residents account for 10.5% of the population in Southwest Indianapolis, Indianapolis, IN, and this percentage has increased by 45.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		18.4%-31.6%
    % Black
    		56.9%-1.2%
    % Hispanic
    		17.1%41.3%
    % Asian
    		0.6%20.0%
    % Foreign Born
    		10.5%45.8%
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    Mortgage and Risk — Southwest Indianapolis, Indianapolis, IN

    According to HUD data as of 2023, there were 601 mortgage originations in Southwest Indianapolis, Indianapolis, IN, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Southwest Indianapolis, Indianapolis, IN. Investor activity is low, as 3.0% 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
    		601
    % Conventional Loans
    		56.0%
    % Government Loans
    		44.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		14.0%
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    Rentals and Section 8 — Southwest Indianapolis, Indianapolis, IN

    As of 2024, the percent of homes in Southwest Indianapolis, Indianapolis, IN under the Section 8 program is 23.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Southwest Indianapolis, Indianapolis, IN, because HUD payments exceed market rent, while 3-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		1,408
    Total Units Section 8
    		1,408
    % Rentals under Section 8
    		23.1%
    % Occupied Section 8
    		86.7%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$271$769$1,040
    2 Bedroom$20$1,200$1,220
    3 Bedroom-$90$1,680$1,590
    4 Bedroom$70$1,850$1,920

    Affordability — Southwest Indianapolis, Indianapolis, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.7
    Median Home Price$219,000
    Median Household Income$56,200

    Southwest Indianapolis, Indianapolis, IN — ZIP Code Boundary Map

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    Frequently Asked Questions