Market Snapshot
- Median listing price
- $195K
- Median rent
- $1,450/mo
- Days on market
- 309 days
- Gross rental yield
- 8.92%
- STR vs LTR
- $2,404/mo STR · $1,450/mo LTR
The median listing price in Indianapolis, IN ZIP 46203 is $195,000 as of June 2026.
The median market rent in Indianapolis, IN ZIP 46203 is $1,450/month as of June 2026.
The median days on market in Indianapolis, IN ZIP 46203 is 309 days as of June 2026. The market is currently neutral.
At a median list price of $195,000 and a median rent of $1,450/month, the gross rental yield in Indianapolis, IN ZIP 46203 is 8.92% as of June 2026.
In Indianapolis, IN ZIP 46203, median Airbnb revenue is $2,404/month compared to median long-term rent of $1,450/month as of June 2026.
Indianapolis, IN 46203 Real Estate Market Report
ZIP Code: 46203
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in the 46203 area average 6.6%, reflecting a stable market environment for property owners compared to earlier 2026 benchmarks.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- $135,000 median sold price is the primary indicator of market value and recent transactions in 46203; this level, combined with a up price year-over-year trend, suggests modest appreciation in realized sales prices.
- There is a notable pricing gap between the $195,000 median listing price and the $135,000 median sold price, which may indicate pricing friction or seller expectations above what recent transactions are achieving.
- With a median days on market of 309, the market is exhibiting slower sales velocity, which appears consistent with a neutral market temperature and may signal more negotiation time for buyers and sellers.
- Market fundamentals show a median price per square foot of $138 and median market rent of $1,450 while interest rate pressure is elevated (local 30-year fixed mortgage rates averaging 6.6%), a combination that suggests owners face higher financing costs even as rent growth remains flat.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Sold below market average
Sold at market average
Sold above market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.53% rate, 1.1% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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