Home ValuePros

Market Intelligence · IN / Indianapolis

Indianapolis, IN 46231 Housing Market

The typical home value in Indianapolis, IN 46231 is $255,042, down 1.0% over the past year as of 2026-08-01. The median list price sits at $267,500, and homes are taking a median of 44 days on market.

Updated August 2026Median value$255K

The median home value in Indianapolis, IN 46231 is $255K as of August 2026, down 1.0% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 46231 range

$235K to $275K

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

-1.0% over 12 months

Typical home value in 46231 over the last 12 months: $258K in Aug 2025 to $255K in Aug 2026 (-1.0%).

Aug 2025$258K

Aug 2026$255K

The numbers

What is the 46231 housing market like?

Typical home value

$255K

Down1.0%YoY

Median list price

$268K

Down2.5%MoM

Days on market

44

Down10.2%MoM

Homes for sale

18

Up5.9%MoM

Price cuts

28.6%

Up16.9%MoM

New listings

12

Up50.0%MoM

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

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The comparison

How do 46231 home prices compare?

  • 46231$255,042
  • Indianapolis$255,775
  • Indiana$237,708
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Indianapolis: 36 ZIPs; Indiana: 697 ZIPs; United States: 26,265 ZIPs).

Context

As of 2026-08-01, the 46231 market shows a typical home value of $255,042, down 1.0% over the past year. The median list price is $267,500, which sits above the typical value, suggesting sellers are aiming higher than where values currently stand. There are 18 homes for sale, with 12 new listings adding fresh inventory. Homes are spending a median of 44 days on market, and 28.6% of listings have had a price cut. For a seller, the data points to a market where pricing realistically from the start matters more than testing the high end.

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