Indianapolis-Carmel-Anderson, IN · Indiana
Boone County
72,827 residents1,206 permits TTM$104,865 median HHI6 ZIP codesUpdated April 28, 2026
Investor first look
Median home value
$341,800
ACS 5-Year
Cap rate proxy
5.2%
FMR × 0.65 ÷ Home Value
Rent-to-income
14.7%
HUD FMR ÷ ACS HHI
Net migration
+2.66%
IRS SOI
Permits (TTM)
1,206
Census BPS
Climate risk
43.2
FEMA NRI (0–100)
ZIP code breakdown6 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 46102 | $341,800county est. | $1,430 | 5.0% | 4.5% | 10.3% |
| 46052 | $289,118 | $1,230 | 5.1% | 7.1% | -42.4% |
| 46071 | $311,749 | $1,270 | 4.9% | 4.8% | -1.0% |
| 46075 | $363,053 | $2,150 | 7.1% | 6.5% | 7.9% |
| 46147 | $335,066 | $1,260 | 4.5% | 4.5% | -1.8% |
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Demographics
Owner-occupied
79.3%
Census ACS
Vacancy rate
3.7%
Census ACS
Bachelor's degree +
50.5%
Census ACS
Rent burdened
35.6%
Census ACS (>30% income)
Median age
38.3
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 28, 2026