Indianapolis-Carmel-Anderson, IN · Indiana
Putnam County
37,091 residents103 permits TTM$76,182 median HHI8 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$205,800
ACS 5-Year
Cap rate proxy
8.6%
FMR × 0.65 ÷ Home Value
Rent-to-income
13.9%
HUD FMR ÷ ACS HHI
Net migration
+2.21%
IRS SOI
Permits (TTM)
103
Census BPS
Climate risk
42.8
FEMA NRI (0–100)
ZIP code breakdown8 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate ↓ | Rent gap |
|---|---|---|---|---|---|
| 46135 | — | — | — | 5.8% | 22.3% |
| 46170 | — | — | — | 5.1% | 40.0% |
| 46175 | — | — | — | 5.1% | 40.0% |
| 46120 | $250,094 | $1,100 | 5.3% | 4.2% | 19.7% |
| 46172 | — | — | — | 4.2% | 40.0% |
| 46105 | — | — | — | 3.7% | 40.0% |
| 46171 | — | — | — | 3.7% | 40.0% |
| 46128 | — | — | — | 3.6% | 40.0% |
Sort by any column. Click a ZIP for detail. Rent gap: green = HUD FMR above market rent.
Demographics
Owner-occupied
73.6%
Census ACS
Vacancy rate
7.7%
Census ACS
Bachelor's degree +
19.9%
Census ACS
Rent burdened
40.0%
Census ACS (>30% income)
Median age
38.4
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