Indianapolis-Carmel-Anderson, IN · Indiana
Marion County
ZIP 46204
971,822 residents1,346 permits TTM$63,450 median HHI36 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$207,000
ACS 5-Year
Cap rate proxy
8.5%
FMR × 0.65 ÷ Home Value
Rent-to-income
20.9%
HUD FMR ÷ ACS HHI
Net migration
+2.18%
IRS SOI
Permits (TTM)
1,346
Census BPS
Climate risk
97.5
FEMA NRI (0–100)
ZIP 46204
Median home value
$207,000
Gross yield
12.6%
Buy Box score
0.9
Section 8 gap
96.0%
Affordability
P/I: 5.4R/I: 29.7%
Section 8 detail
SAFMR: $2,170Rent: $1,107Gap: 96.0%
ZIP code breakdown36 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Buy Box score ↓ | Section 8 gap |
|---|---|---|---|---|---|
| 46218 | $207,000 | $1,260 | 7.3% | 1.0 | 13.8% |
| 46222 | $207,000 | $1,370 | 7.9% | 1.0 | 23.8% |
| 46241 | $207,000 | $1,410 | 8.2% | 1.0 | 27.4% |
| 46203 | $207,000 | $1,320 | 7.7% | 1.0 | 19.2% |
| 46225 | $207,000 | $1,330 | 7.7% | 1.0 | 20.1% |
| 46208 | $207,000 | $1,350 | 7.8% | 1.0 | 22.0% |
| 46201 | $207,000 | $1,280 | 7.4% | 1.0 | 15.6% |
| 46221 | $207,000 | $1,440 | 8.3% | 1.0 | 30.1% |
| 46226 | $207,000 | $1,340 | 7.8% | 1.0 | 21.0% |
| 46237 | $207,000 | $1,620 | 9.4% | 1.0 | 46.3% |
| 46107 | $207,000 | $1,350 | 7.8% | 1.0 | 22.0% |
| 46229 | $207,000 | $1,300 | 7.5% | 1.0 | 17.4% |
| 46217 | $207,000 | $1,730 | 10.0% | 1.0 | 56.3% |
| 46235 | $207,000 | $1,250 | 7.2% | 0.9 | 12.9% |
| 46236 | $207,000 | $2,120 | 12.3% | 0.9 | 91.5% |
| 46228 | $207,000 | $1,780 | 10.3% | 0.9 | 60.8% |
| 46239 | $207,000 | $1,640 | 9.5% | 0.9 | 48.1% |
| 46224 | $207,000 | $1,370 | 7.9% | 0.9 | 23.8% |
| 46219 | $207,000 | $1,340 | 7.8% | 0.9 | 21.0% |
| 46254 | $207,000 | $1,440 | 8.3% | 0.9 | 30.1% |
| 46268 | $207,000 | $1,530 | 8.9% | 0.9 | 38.2% |
| 46204 | $207,000 | $2,170 | 12.6% | 0.9 | 96.0% |
| 46227 | $207,000 | $1,320 | 7.7% | 0.9 | 19.2% |
| 46214 | $207,000 | $1,350 | 7.8% | 0.8 | 22.0% |
| 46216 | $207,000 | $1,650 | 9.6% | 0.8 | 49.1% |
| 46205 | $207,000 | $1,500 | 8.7% | 0.8 | 35.5% |
| 46259 | $207,000 | $1,600 | 9.3% | 0.8 | 44.5% |
| 46278 | $207,000 | $1,720 | 10.0% | 0.7 | 55.4% |
| 46220 | $207,000 | $1,690 | 9.8% | 0.7 | 52.7% |
| 46202 | $207,000 | $1,850 | 10.7% | 0.7 | 67.1% |
| 46240 | $207,000 | $1,740 | 10.1% | 0.7 | 57.2% |
| 46250 | $207,000 | $1,630 | 9.4% | 0.7 | 47.2% |
| 46260 | $207,000 | $1,490 | 8.6% | 0.6 | 34.6% |
| 46256 | $207,000 | $1,430 | 8.3% | 0.4 | 29.2% |
| 46183 | $207,000 | $1,560 | 9.0% | — | 40.9% |
| 46206 | $207,000 | $1,410 | 8.2% | — | 27.4% |
Sort by any column. Click a ZIP for detail.
Demographics
Owner-occupied
55.9%
Census ACS
Vacancy rate
9.7%
Census ACS
Bachelor's degree +
34.1%
Census ACS
Rent burdened
48.4%
Census ACS (>30% income)
Median age
34.3
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 16, 2026