Indianapolis, IN 46222 Real Estate Market Report

ZIP Code: 46222
Report Date: April 2026
Market Temperature: COLD
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Indianapolis real estate market in ZIP code 46222 is currently characterized by a median sold price of $135,500, reflecting a slight year-over-year decrease. This trend suggests a cooling market, as evidenced by the 301 days on market, indicating slower sales velocity. The elevated inventory levels relative to sales activity further support this observation, pointing to a market that may be experiencing pricing friction as buyers take more time to make purchasing decisions.

Despite the softening in sold prices, rental demand remains strong, with a median market rent of $1,397, which has shown an upward trend year-over-year. This indicates that while home sales may be slowing, the rental market is still robust, suggesting potential opportunities for investors focusing on rental properties. Overall, the market appears to be in a transitional phase, with moderate interest rate pressure and a cold market temperature contributing to the current dynamics.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Indianapolis are averaging 6.55% as of March 2026, which is 0.75% higher than the historical average of 5.80% for this period.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price is $135,500, indicating a decrease in value compared to previous periods.

2. Homes are taking an average of 301 days on market, reflecting a slower sales velocity and potential buyer hesitation.

3. The median listing price stands at $144,900, which creates a notable pricing gap compared to the sold price, suggesting pricing friction in the market.

4. Rental demand remains strong with a median market rent of $1,397, which has increased year-over-year, indicating a growing rental market despite the cooling sales environment.

5. The market temperature is currently classified as cold, influenced by elevated inventory levels and moderate interest rate pressure.

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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.