Indianapolis-Carmel-Anderson, IN · Indiana
Hancock County
ZIP 46140
82,013 residents1,155 permits TTM$91,326 median HHI7 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$258,100
ACS 5-Year
Cap rate proxy
6.8%
FMR × 0.65 ÷ Home Value
Rent-to-income
14.7%
HUD FMR ÷ ACS HHI
Net migration
+3.15%
IRS SOI
Permits (TTM)
1,155
Census BPS
Climate risk
44.0
FEMA NRI (0–100)
ZIP 46140
Median home value
$288,734
Gross yield
5.7%
Cap rate
6.5%
Rent gap
-13.4%
Affordability
P/I: 3.2R/I: 20.4%
Section 8 detail
SAFMR: $1,370Rent: $1,121Gap: 22.2%
ZIP code breakdown7 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 46154 | $258,100county est. | $1,370 | 6.4% | 5.2% | 18.2% |
| 46186 | $272,083 | $1,320 | 5.8% | 4.9% | 15.1% |
| 46117 | $258,100county est. | $1,160 | 5.4% | 5.2% | 3.4% |
| 46055 | $397,872 | $1,910 | 5.8% | 7.0% | -21.9% |
| 46140 | $288,734 | $1,370 | 5.7% | 6.5% | -13.4% |
Ranked by composite score
Compare all ZIPs in Hancock County
See all 7 ZIPs ranked by yield and cap rate
Compare yields, cap rates, rent gaps, and affordability across every ZIP. Free account.
- Sortable table — sort by yield, rent gap, affordability
- Drill into any ZIP for full detail
- Save markets and weekly market digest
Free · No credit card · No spam
2
ZIP comparison table. Showing 5 of 7 ZIPs. Sign up to see all.
Demographics
Owner-occupied
79.6%
Census ACS
Vacancy rate
3.4%
Census ACS
Bachelor's degree +
34.2%
Census ACS
Rent burdened
39.4%
Census ACS (>30% income)
Median age
40.2
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 16, 2026