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  5. /Wayne Township, Indianapolis, IN - 46237

Wayne Township, Indianapolis, IN—46237

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$262,000
0.1% YoY Growth
Household Income
$76,700
18.5% YoY Growth
Days on Market
36
13.0% Longer YoY
Home Price Forecast
1.0%
Median Rent
$1,680
1.7% YoY Growth
1-Bed Rent
$1,120
40.0% YoY Growth
2-Bed Rent
$1,500
6.4% YoY Growth
3-Bed Rent
$1,700
1.8% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Wayne Township, Indianapolis, IN

As of May '26, the median home price in Wayne Township, Indianapolis, IN is $262,000, with a year-over-year change of 0.1%. This indicates that home prices in Wayne Township, Indianapolis, IN are flat. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$262,0000.1%
Single Family $269,0000.0%
Condos $185,000-1.1%

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
    		$201,000-1.0%
    3 Bed
    		$253,0000.0%
    4 Bed
    		$328,0000.0%
    5 Bed $430,3631.5%
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    % of Housing Stock

    Studio
    1.1%
    1 Bedroom
    9.4%
    2 Bedrooms
    26.5%
    3 Bedrooms
    38.8%
    4 Bedrooms
    21.4%
    5+ Bedrooms
    2.8%

    Rental Trends — Wayne Township, Indianapolis, IN

    As of July '25, Rentcast reports the average rent in Wayne Township, Indianapolis, IN is $1,710, with a year-over-year rent change of -1.7%. Per bedroom, the median rent as of July '25 in Wayne Township, Indianapolis, IN is studios: $948, 1-bedrooms: $1,110, 2-bedrooms: $1,500, 3-bedrooms: $1,740, 4-bedrooms: $2,240. The most common rental property sizes in Wayne Township, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 50.5% and 28.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,680$1,710
    Studio Rent $805$948
    1 Bed Rent $1,120$1,110
    2 Bed Rent $1,500$1,500
    3 Bed Rent $1,700$1,740
    4 Bed Rent $2,030$2,240
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    % of Rental Stock

    Studio
    3.7%
    1 Bedroom
    28.5%
    2 Bedrooms
    50.5%
    3 Bedrooms
    13.9%
    4 Bedrooms
    3.4%

    Property Listings — Wayne Township, Indianapolis, IN

    As of May '26, Realtor.com reports that the median days on market for a home in Wayne Township, Indianapolis, IN is 36. This is a increase of 13.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$294,0005.0%
    Listing Count
    		19726.0%
    Listings as % of Homes0.6%26.0%
    Days on Market
    		3613.0%
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    Demographics — Wayne Township, Indianapolis, IN

    As of the latest ACS Survey released in 2023, Wayne Township, Indianapolis, IN has a population of 42,700, which has increased by 11.2% over the past 5 years. Wayne Township, Indianapolis, IN is a moderately popular place for families, as children make up 23.7% of the population. The area has a moderately educated workforce, with 34.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		42,70011.2%
    % Under 18
    		23.7%-2.9%
    % Seniors
    		16.4%29.1%
    % WFH
    		11.9%271.9%
    % w/ College Degree
    		34.1%-2.3%
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    As of the latest ACS Survey released in 2023, Wayne Township, Indianapolis, IN is a predominantly white area, with 71.3% of the population identifying as white. The white population has shrunk by 15.2% in the last 5 years. The second most common race or ethnicity in Wayne Township, Indianapolis, IN is asian, making up 12.6% of the population. Foreign-born residents account for 11.9% of the population in Wayne Township, Indianapolis, IN, and this percentage has increased by 70.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		71.3%-15.2%
    % Black
    		4.7%14.6%
    % Hispanic
    		7.1%61.4%
    % Asian
    		12.6%137.7%
    % Foreign Born
    		11.9%70.0%
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    Mortgage and Risk — Wayne Township, Indianapolis, IN

    According to HUD data as of 2023, there were 799 mortgage originations in Wayne Township, Indianapolis, IN, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Wayne Township, Indianapolis, IN. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		799
    % Conventional Loans
    		78.0%
    % Government Loans
    		22.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		15.0%
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    Rentals and Section 8 — Wayne Township, Indianapolis, IN

    As of 2024, the percent of homes in Wayne Township, Indianapolis, IN under the Section 8 program is 0.2%. 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 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Wayne Township, Indianapolis, IN, because HUD payments exceed market rent, while 2-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		11
    Total Units Section 8
    		11
    % Rentals under Section 8
    		0.2%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$30$1,120$1,150
    2 Bedroom-$150$1,500$1,350
    3 Bedroom$60$1,700$1,760
    4 Bedroom$100$2,030$2,130

    Affordability — Wayne Township, Indianapolis, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.3
    Median Home Price$262,000
    Median Household Income$76,700

    Wayne Township, Indianapolis, IN — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    46107

    Northeast Indianapolis, Indianapolis, IN

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    Near East Side, Indianapolis, IN

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    Greenwood, IN

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    Southeast Indianapolis, Indianapolis, IN

    46239

    Frequently Asked Questions