Market Intelligence · IN / Indianapolis

Indianapolis, IN 46221 Housing Market

Typical home value in Indianapolis's 46221 ZIP is $204,818, down 1.1% over the past year. The median list price stands at $218,500, with homes spending a median of 51 days on market as of September 2026.

Updated September 2026Median value$205K

The median home value in Indianapolis, IN 46221 is $205K as of September 2026, down 1.1% 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 46221 range

$188K to $221K

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

-1.1% over 12 months

Sep 2025$207K

Low $205KHigh $210K

Sep 2026$205K

The numbers

What is the 46221 housing market like?

As of September 2026

Typical home value

$205K

1.1%YoY

Median list price

$219K

1.8%MoM

Days on market

10.9%MoM

Homes for sale

5.2%MoM

Price cuts

27.3%

4.0%MoM

New listings

29.2%MoM

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

The outlook

46221 housing market forecast 2027

+1.8%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 46221 to rise 1.8% by September 2027.

Over the 12 months through September 2026, typical home values in 46221 fell 1.1%, per the Zillow Home Value Index.

Will home prices drop in 46221?

Zillow's forecast does not call for a drop: it expects typical home values in 46221 to rise 1.8% by September 2027, after a 1.1% 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 46221 home prices compare?

46221$204,818
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

The 46221 market is moderating. There are 73 homes for sale with 34 new listings in September 2026, suggesting steady inventory flow. The median days on market of 51 indicates homes are taking longer to sell than in stronger conditions. Price cuts appear on 27.3% of listings, reflecting some seller adjustment to market realities. If you're thinking about selling, understand that conditions favor patience and realistic pricing over speed.

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Down payment20% · $40,964

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Common questions

What people ask us.

What is the typical home value in 46221?

The typical home value in 46221 is $204,818, down 1.1% over the past year as of September 2026.

How long do homes typically stay on market in 46221?

The median days on market is 51 as of September 2026.

What is the median list price in 46221?

The median list price in 46221 is $218,500 as of September 2026.

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