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Indianapolis market pulse

Real public data for Indianapolis's ZIP codes, updated as the agencies publish.

Metro prices

+109%

in 10 years · Indianapolis metro · 2016 Q2–2026 Q2

KnownSource: FHFA House Price Index, purchase-only, not seasonally adjusted, quarterly: Indianapolis-Carmel-Greenwood, IN (metro area 26900), 2000 Q1–2026 Q2 (opens in a new tab)

Past change, not a forecast.

Data table
Indianapolis-Carmel-Greenwood, IN metro: FHFA house price index, 2016 Q2 to 2026 Q2
QuarterIndexChange since 2016 Q2
2016 Q2180.4—
2016 Q3183.6+1.8%
2016 Q4183.3+1.6%
2017 Q1183.5+1.7%
2017 Q2191.4+6.1%
2017 Q3194.2+7.6%
2017 Q4196.4+8.9%
2018 Q1201.2+12%
2018 Q2209.1+16%
2018 Q3210.3+17%
2018 Q4210.1+16%
2019 Q1214.4+19%
2019 Q2222.5+23%
2019 Q3226.7+26%
2019 Q4227.3+26%
2020 Q1233.8+30%
2020 Q2241.3+34%
2020 Q3250.2+39%
2020 Q4254.9+41%
2021 Q1266.1+48%
2021 Q2278.7+54%
2021 Q3288.2+60%
2021 Q4293.3+63%
2022 Q1307.0+70%
2022 Q2327.4+81%
2022 Q3324.3+80%
2022 Q4318.6+77%
2023 Q1326.9+81%
2023 Q2337.9+87%
2023 Q3338.6+88%
2023 Q4342.9+90%
2024 Q1343.2+90%
2024 Q2353.3+96%
2024 Q3355.0+97%
2024 Q4349.5+94%
2025 Q1360.8+100%
2025 Q2369.3+105%
2025 Q3366.5+103%
2025 Q4367.3+104%
2026 Q1371.8+106%
2026 Q2376.8+109%

Each index has its own base, so compare its changes, not its level.

Details

FHFA's purchase-only index for Indianapolis-Carmel-Greenwood, IN: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.

ZIP by ZIP

+109%

The median ZIP's house price index, 2015–2025. 33 ZIPs, from +79% to +179%.

KnownSource: FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions), 2000–2025 (updated 2026-03-31) (opens in a new tab)

One-year ZIP changes are noisy: of last year's top-3 ZIPs in our 50 cities, 1 in 15 was top 3 again. Past change, not a forecast.

Loading the ZIP figures…
About these figures

FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. 33 of Indianapolis's 34 ZIPs have an index; FHFA publishes one only where enough sales exist. A ZIP whose index stops before the latest year shows the year it ends instead of changes. Each index has its own base, so compare a ZIP's changes, not its level.

Rent or buy here

EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $1,040 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$560

a month less to own a typical sample home than HUD's rent for its size, ZIP 46219

EstimateSource: U.S. Department of Housing and Urban Development, Small Area Fair Market Rents by ZIP code, FY2027, FY2027 (from Oct 1, 2026) (opens in a new tab)
Own: 3-bedroom sample house, $194,900Sample: fictional home, for the demo.
EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $1,040 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$1,280 a monthNot included: upkeep, utilities, flood insurance, special assessments.
Rent: HUD fair market rent, 3 bedrooms
$1,840 a monthHUD Small Area Fair Market Rent, FY2027: a 40th-percentile rent for a standard home, utilities included. Not an asking rent.
See this sample home

Lending

6.625%

Median rate, 30-year fixed conventional · 5,319 loans · 2025

KnownSource: FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations, 2025 loans; retrieved 2026-09-27 (opens in a new tab)

2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Indianapolis's census tracts: 8,632 loans. Loans that closed, not offers: a rate depends on your credit, down payment, points and the day you lock it.

Middle half of rates
6.374% to 6.875%
Loan costs at closing
$3,448 medianMiddle half $2,764 to $4,843: origination charges (points included) and settlement services, Closing Disclosure section D · 5,836 loans
Loan limits, 2026
$832,750 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $541,287 (one-unit home, Marion County). Limits set by FHFA and HUD.
More lending figures
Borrowed, every loan on the home combined
95% of the value (median)Middle half 80% to 96.7%. 74% of buyers borrowed more than 80% of the value, 60.9% more than 90%, 40.9% more than 95%. HMDA's combined loan-to-value counts every loan on the home (second loans, down-payment-assistance loans, financed FHA or VA fees) against the value the lender used, so it doesn't show the cash buyers put down · 8,306 loans
Loan types
Conventional 69.7% · FHA 24.3%VA 6% · USDA 0%
Discount points
47.7% of loans paid pointsMedian paid: $1,497. Points buy a lower rate.

For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.

Flood and insurance

$1,553 a year

Median of 34 Indianapolis ZIPs' average homeowners premiums, 2022. Premiums have risen since; get quotes for your address.

KnownSource: U.S. Treasury, Federal Insurance Office: Analyses of U.S. Homeowners Insurance Markets, 2018–2022, Supporting Underlying Metrics by ZIP code (premiums per policy, nonrenewal rate), 2018–2022 (published January 2025) (opens in a new tab)
Federal flood insurance
2,329 policies in force · 1,536 claims since 2000FEMA National Flood Insurance Program, summed over 34 ZIPs (policies in force Jun 30, 2026; claims since 2000). Private flood policies aren't counted.
Policies insurers didn't renew
1.4% in the median ZIPU.S. Treasury Federal Insurance Office, 2022.

Most homeowners policies exclude flood, so flood insurance is a separate policy. Source: FEMA FloodSmart: What is my flood risk?, retrieved 2026-10-09 (opens in a new tab) Check an address on FEMA's flood map (opens in a new tab)

County hazard ratings (FEMA)

Natural hazards, compared with other U.S. counties

  • Marion County, IN: expected yearly losses rated relatively high for inland flooding, heat wave, tornado, winter weather.
    Other ratings for Marion County, IN
    • EarthquakeRelatively Moderate
    • WildfireVery Low
    • HurricaneVery Low
    • HailRelatively Moderate

FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not one home. Check an address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.

What's new in Indianapolis

Rail openings, zoning changes and big projects from primary sources, newest first. News, not a price forecast.

  1. Project

    Blue Line BRT breaks ground

    IndyGo began its Washington Street/airport corridor project. It remains a construction milestone here, not an opened route or guaranteed delivery date.

    IndyGo, Blue Line groundbreaking (opens in a new tab)
  2. Rail opened

    Purple Line BRT begins service

    IndyGo’s new bus rapid transit corridor links downtown Indianapolis and Lawrence. It is BRT, not light rail.

    IndyGo, Purple Line launch announcement (opens in a new tab)

Rules in Indiana

From state law, standard contract forms and local custom. Research, not legal advice.

ClosingRule
A title company runs the closing and holds the money.
Seller's disclosureRule
Indiana Seller's Residential Real Estate Sales Disclosure You may cancel within 2 business days in some cases: Form/amendment delivered after acceptance discloses a defect: written rescission within 2 BUSINESS days after receipt under IC32-21-5-13, with deposit return..
Closing taxesRule
Indiana and Indianapolis charge no transfer or mortgage tax at closing in our research; recording fees still apply.
How buying works in Indiana
Who runs the closing
A title company runs the closing and holds the money. Typical time from contract to keys: about 35 days.
The contract
Your signed offer becomes a binding contract once the seller accepts it.
Details

Indiana Association of REALTORS Purchase Agreement

Buyer agreement
Indiana written buyer agency agreement, signed before touring.
Details

Homiy's prototype requires a written agreement before a represented tour. NAR's rule binds participating MLS brokers; do not describe it as a universal state law. Compensation is negotiable and total brokerage pay cannot exceed the agreement.

Source: NAR: written buyer agreements before touring (MLS participation rule, not a universal state statute) (reviewed 2026-09-27)

Inspection
About 10 days for inspections.
Details

Use the purchase agreement's defect notice and response process. 10 calendar days is a negotiable sample planning period, not a statutory deadline.

Earnest money
1–3% of the price, due within 3 days, held by: Named broker trust or title escrow.
Details

Sample only: delivery within 3 calendar days and 1–3% earnest money; the signed contract controls. Buyer delivery is distinct from the holder's statutory deposit deadline.

Seller's disclosure
Indiana Seller's Residential Real Estate Sales Disclosure You may cancel within 2 business days in some cases: Form/amendment delivered after acceptance discloses a defect: written rescission within 2 BUSINESS days after receipt under IC32-21-5-13, with deposit return..
Details

Disclosure before acceptance under §32-21-5-10. Before closing an accepted offer is not enforceable against buyer until both sign disclosure; nondelivery alone does not invalidate a completed conveyance. This is not a general 10-day rescission rule (HOA document delivery has a different rule).

Source: Indiana Code §32-21-5-13: late defect disclosure rescission (2025 statutory text mirror)

Loan and appraisal
Loan contingency: 21 days (set in the contract).
Details

21-day financing period and the typical closing time are sample planning assumptions, not measured averages or legal rights. Financing and appraisal protection require the signed form/addenda; an appraisal shortfall is not automatically protected.

Title insurance
The seller customarily pays for the owner's policy.
Details

Payer is a negotiable local custom, not a mandatory charge; obtain a title quote and follow the signed allocation. Filed insurer/rating-bureau rates are not a state-promulgated price. No state real-estate transfer tax modeled; ordinary recording fees still apply. Buyer generally buys lender coverage.

Property tax for a new owner
Your property tax follows the county's assessed market value. About 1.0% of the price a year is our planning figure for Indianapolis; your bill can differ.
Details

Annual market-value-in-use assessment. Qualifying homestead circuit-breaker cap is 1% of gross assessed value, not purchase price; referendum levies can be outside the cap. Homestead deductions/credits require qualification and may make tax lower. Do not present 1% as an all-in guarantee.

LOW-CONFIDENCE planning allowance based on Indiana's qualifying homestead circuit-breaker cap of1% of GROSS assessed value, not an observed Indianapolis effective rate or an all-in maximum. Referendum levies can exceed the cap; homestead deductions/2026 credits may reduce actual tax. New buyer must qualify/file; replace price proxy with assessor value and district-specific calculation. HOA range and lender-title percentage are SAMPLE inputs.

Agent credits to the buyer
Indiana allows an agent to credit part of their pay to the buyer, with the lender's approval.
Details

876IAC8-2-7 prohibits undisclosed inducements/rebates, not disclosed transaction-party credits. Give full written disclosure to all parties when offered/accepted and obtain lender approval.

Source: Indiana 876 IAC 8-2-7(2): written disclosure of inducements/rebates (administrative rule text mirror; reviewed 2026-09-27)

Closing taxes

Indiana and Indianapolis charge no transfer or mortgage tax at closing in our research; recording fees still apply.

Sources (8)

Programs and deadlines

Official pages for Indianapolis, the same for every buyer. Each program decides who qualifies.

Down-payment help
First Step and Next Home (opens in a new tab) (Indiana Housing and Community Development Authority (IHCDA))First Step pairs a 30-year fixed mortgage with non-forgivable down payment assistance for first-time buyers; Next Home offers 2.5% or 3.5% of the price.Official page, checked 2026-09-28.Indiana's housing finance agency runs it; the program decides who qualifies and for how much.
Down-payment help in Indianapolis
We found no city or county down-payment program for Indianapolis. Where we looked: indy.gov, whose Affordable Housing page refers prospective buyers to the Indianapolis Neighborhood Housing Partnership (a nonprofit), and web searches.Checked 2026-09-28.
Homestead exemption
Deductions and Credits (opens in a new tab) (Indiana Department of Local Government Finance)Deductions such as the homestead deduction lower a home's assessed value; apply once to the county auditor.Deadline: January 15 (for example, by January 15, 2026 for the 2025-pay-2026 bill)Official page, checked 2026-09-28.
If you disagree with your assessment
Appeal a Property Assessment: Subjective (opens in a new tab) (Marion County Assessor's Office)An opinion-based appeal (grade, condition, market adjustment or trending factors); errors in the property's data use the objective appeal.When: June 15 of the payable tax yearOfficial page, checked 2026-09-28.
After you buy: alerts on your deed
Property Fraud Alerts (opens in a new tab) (indy.gov (Indianapolis and Marion County))The official sign-up page for property fraud alerts.Official page, checked 2026-09-28.

Sample homes in Indianapolis, each with its estimated monthly cost and the things to check. Found one somewhere else? Check it here.

Search IndianapolisCheck a home
Sources (28)