Indianapolis-Carmel-Anderson, IN · Indiana
Shelby County
ZIP 47234
45,104 residents189 permits TTM$71,301 median HHI9 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$188,300
ACS 5-Year
Cap rate proxy
9.4%
FMR × 0.65 ÷ Home Value
Rent-to-income
16.1%
HUD FMR ÷ ACS HHI
Net migration
+1.96%
IRS SOI
Permits (TTM)
189
Census BPS
Climate risk
43.4
FEMA NRI (0–100)
ZIP 47234
Median home value
$188,300
Gross yield
8.0%
Buy Box score
0.8
Section 8 gap
31.8%
Affordability
P/I: 3.4R/I: —
Section 8 detail
SAFMR: $1,260Rent: $956Gap: 31.8%
ZIP code breakdown9 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Buy Box score ↓ | Section 8 gap |
|---|---|---|---|---|---|
| 46182 | $188,300 | $1,560 | 9.9% | 0.9 | 63.2% |
| 46176 | $188,300 | $1,240 | 7.9% | 0.9 | 29.7% |
| 47234 | $188,300 | $1,260 | 8.0% | 0.8 | 31.8% |
| 46161 | $188,300 | $1,300 | 8.3% | 0.8 | 36.0% |
| 46124 | $188,300 | $1,100 | 7.0% | 0.7 | 15.1% |
| 46126 | $188,300 | $1,100 | 7.0% | 0.6 | 15.1% |
| 46130 | $188,300 | $1,180 | 7.5% | 0.5 | 23.4% |
| 46110 | $188,300 | $1,130 | 7.2% | — | 18.2% |
| 46144 | $188,300 | $1,300 | 8.3% | — | 36.0% |
Sort by any column. Click a ZIP for detail.
Demographics
Owner-occupied
73.8%
Census ACS
Vacancy rate
7.3%
Census ACS
Bachelor's degree +
19.4%
Census ACS
Rent burdened
35.8%
Census ACS (>30% income)
Median age
41.2
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