Market Intelligence · IN / Indianapolis

Indianapolis, IN 46203 Housing Market

The typical home value in Indianapolis 46203 is $164,406, down 1.8% over the past year. The median list price sits at $229,925, with homes spending a median of 67 days on the market as of September 2026.

Updated September 2026Median value$164K

The median home value in Indianapolis, IN 46203 is $164K as of September 2026, down 1.8% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 46203 range

$151K to $178K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-1.8% over 12 months

Sep 2025$167K

Low $164KHigh $170K

Sep 2026$164K

The numbers

What is the 46203 housing market like?

As of September 2026

Typical home value

$164K

1.8%YoY

Median list price

$230K

0.0%MoM

Days on market

2.9%MoM

Homes for sale

259

2.8%MoM

Price cuts

30.2%

29.5%MoM

New listings

20.6%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

46203 housing market forecast 2027

+1.7%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 46203 to rise 1.7% by September 2027.

Over the 12 months through September 2026, typical home values in 46203 fell 1.8%, per the Zillow Home Value Index.

Will home prices drop in 46203?

Zillow's forecast does not call for a drop: it expects typical home values in 46203 to rise 1.7% by September 2027, after a 1.8% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 46203 home prices compare?

46203$164,406
Indianapolis$253,595
Indiana$233,780
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Indianapolis: 36 ZIPs; Indiana: 697 ZIPs; United States: 26,262 ZIPs).

Context

There are 259 homes for sale in 46203 as of September 2026, with 82 new listings added recently. The median time to sell is 67 days. Price adjustments are common here, with 30.2% of listings carrying a price cut. The combination of price reductions and a year-over-year value decline suggests a buyer's market where negotiation room exists. If you're considering selling, be realistic about pricing and prepared for a slower sales pace.

Monthly payment

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Home price

Down payment20% · $32,881

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in 46203?

The typical home value is $164,406, which has declined 1.8% over the past year as of September 2026.

How long do homes typically stay on the market here?

The median days on market is 67 as of September 2026.

What share of homes have had their price reduced?

As of September 2026, 30.2% of listings in 46203 have a price cut.

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Nearby ZIP markets.

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