Market Snapshot
- Median listing price
- $150K
- Median rent
- $1,720/mo
- Days on market
- 361 days
- Gross rental yield
- 13.76%
- STR vs LTR
- $3,536/mo STR · $1,720/mo LTR
The median listing price in Indianapolis, IN ZIP 46221 is $150,000 as of June 2026.
The median market rent in Indianapolis, IN ZIP 46221 is $1,720/month as of June 2026.
The median days on market in Indianapolis, IN ZIP 46221 is 361 days as of June 2026. The market is currently neutral.
At a median list price of $150,000 and a median rent of $1,720/month, the gross rental yield in Indianapolis, IN ZIP 46221 is 13.76% as of June 2026.
In Indianapolis, IN ZIP 46221, median Airbnb revenue is $3,536/month compared to median long-term rent of $1,720/month as of June 2026.
Indianapolis, IN 46221 Real Estate Market Report
ZIP Code: 46221
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 46221 area average 6.53%, which is 0.55% higher than the 5.98% rate observed earlier in 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- Median sold price: $166,000 is the primary indicator of current market value and recent transaction activity in 46221, providing a concrete anchor for valuation and underwriting decisions given available sales data.
- The spread between median listing price: $150,000 and median sold price: $166,000 suggests pricing friction between seller expectations and completed transactions; this gap appears to warrant careful pricing strategies and may indicate opportunities for negotiated deals or targeted marketing to close expectations. pricing gap
- Slower sales velocity is implied by a median days on market: 361, which suggests longer time-to-contract and increased holding costs for sellers; under these conditions, staging, price realism, and flexible terms may materially improve liquidity. slower transaction velocity
- Macro headwinds are present: interest rate pressure: elevated with local 30-year fixed mortgage rates at 6.53%, which is 0.55% higher than the 5.98% rate observed earlier in 2026; this elevated financing cost may constrain buyer purchasing power and lengthen decision timelines. elevated interest rate pressure
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
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
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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