Speedway/Wayne Area, Indianapolis, IN46256

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$338,000
2.0% YoY Growth
Median Household Income
$86,500
29.5% 5-Year Growth
Days on Market
44
8.0% Shorter than last year
Home Price Forecast
1.5%
Median Rent
$1,780
19.2% YoY Growth
1-Bed Rent
$1,030
20.1% YoY Growth
2-Bed Rent
N/A
N/A
3-Bed Rent
$1,840
4.5% YoY Growth

Property Listings — Speedway/Wayne Area, Indianapolis, IN

As of Oct '25, Realtor.com reports that the median days on market for a home in Speedway/Wayne Area, Indianapolis, IN is 44. This is a decrease of -8.0% 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 43.0%, representing a large inventory and a lot of supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$350,0001.0%
Listing Count
8817.0%
Listings as % of Homes0.4%17.0%
Days on Market
44-8.0%
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Demographics — Speedway/Wayne Area, Indianapolis, IN

As of the latest ACS Survey released in 2023, Speedway/Wayne Area, Indianapolis, IN has a population of 21,800, which has decreased by -7.3% over the past 5 years. Speedway/Wayne Area, Indianapolis, IN is a moderately popular place for families, as children make up 22.4% of the population. The area has a highly educated workforce, with 57.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.2% reporting working from home.

MetricLatest CensusYoY % Change
Population
21,800-7.3%
% Under 18
22.4%25.1%
% Seniors
17.9%11.9%
% WFH
20.2%274.1%
% w/ College Degree
57.0%3.6%
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As of the latest ACS Survey released in 2023, Speedway/Wayne Area, Indianapolis, IN is a predominantly white area, with 69.0% of the population identifying as white. The white population has shrunk by 11.8% in the last 5 years. The second most common race or ethnicity in Speedway/Wayne Area, Indianapolis, IN is black, making up 13.0% of the population. Foreign-born residents account for 6.9% of the population in Speedway/Wayne Area, Indianapolis, IN, and this percentage has decreased by 1.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
69.0%-11.8%
% Black
13.0%4.8%
% Hispanic
9.6%118.2%
% Asian
5.2%67.7%
% Foreign Born
6.9%-1.4%
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Mortgage and Risk — Speedway/Wayne Area, Indianapolis, IN

According to HUD data as of 2023, there were 451 mortgage originations in Speedway/Wayne Area, Indianapolis, IN, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Speedway/Wayne Area, Indianapolis, IN. Investor activity is low, as 1.0% 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
451
% Conventional Loans
86.0%
% Government Loans
14.0%
% Investor Loans
1.0%
% Second Loans
0.0%
% Cash Out Refinance
14.0%

Loan Activity

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Rentals and Section 8 — Speedway/Wayne Area, Indianapolis, IN

Speedway/Wayne Area, Indianapolis, IN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD
141
Total Units Section 8
141
% Rentals under Section 8
5.6%
% Occupied Section 8
99.0%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom$40$1,030$1,070
2 BedroomN/AN/A$1,250
3 Bedroom-$210$1,840$1,630
4 Bedroom-$230$2,210$1,980

Affordability — Speedway/Wayne Area, Indianapolis, IN

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio3.7
Median Home Price$338,000
Median Household Income$86,500

Speedway/Wayne Area, Indianapolis, IN — ZIP Code Boundary Map

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Frequently Asked Questions