How much is a home worth in ZIP code 46032?

The typical home in 46032 is worth $578,680, based on the Zillow Home Value Index.

Are home values rising in 46032?

Home values in 46032 are up 4.4% over the past year, and up 6.6% a year over five years.

What is the typical rent in 46032?

A typical home in 46032 rents for about $1,769 a month, a gross rental yield of 3.7%.

What is the property tax rate in 46032?

The effective property tax rate in 46032 is 0.8% — roughly $4,819 a year on a typical home.

ZIP code 46032 has a population of 51,515 and a median household income of $132,085.

HousingHandbookReference data

…

U.S. ZIP Code · IN46032

Hamilton County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$578,680^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +4.4%
5-year / yr: +6.6%
10-year / yr: +6.1%

Relative price

vs U.S.: +103.7%
vs metro: +100.5%
vs state: +150.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 46032 is worth $578,680 — 100.5% above the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have risen 4.4%. Homes here rent for a typical $1,769 a month — a 3.7% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,769^[2]
Gross yield: 3.7%^[2]
Cap rate: 2.2%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $4,819^[3]

#Climate risk

FEMA National Risk Index ratings for Hamilton County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 51,515^[3]
Median household income: $132,085^[3]

#Migration

Household moves in and out of Hamilton County over a year, from IRS tax-return data.

Net migration: +1,070^[5]
Moved in: 12,612
Moved out: 11,542

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 11
Elementary: 6
Middle: 2
High: 3

Carmel High School
High · Grades 9–12 · Carmel Clay Schools
5,200 students
Creekside Middle School
Middle · Grades 6–8 · Carmel Clay Schools
1,394 students
Carmel Middle School
Middle · Grades 6–8 · Carmel Clay Schools
1,070 students
Clay Center Elementary School
Elementary · Grades PK–5 · Carmel Clay Schools
689 students
Carmel Elementary School
Elementary · Grades K–5 · Carmel Clay Schools
682 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield3.7%

Net yield (after ~40% expenses)2.2%

Annual rent$21,226

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,926

Loan principal$462,944

Down payment$115,736

Total interest paid$590,459

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio2.15

Monthly cost to own$3,809

Monthly rent$1,769

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 69th percentile^[1]
Rental yield: 3rd percentile^[2]
Property tax: 67th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 46032?: The typical home in 46032 is worth $578,680, based on the Zillow Home Value Index.
Are home values rising in 46032?: Home values in 46032 are up 4.4% over the past year, and up 6.6% a year over five years.
What is the typical rent in 46032?: A typical home in 46032 rents for about $1,769 a month, a gross rental yield of 3.7%.
What is the property tax rate in 46032?: The effective property tax rate in 46032 is 0.8% — roughly $4,819 a year on a typical home.
Who lives in 46032?: ZIP code 46032 has a population of 51,515 and a median household income of $132,085.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

46033 vs 46032 →
Carmel, IN
Typical home
$586,866
Gross yield
4.2%
46040 vs 46032 →
Fortville, IN
Typical home
$503,931
Gross yield
3.5%
46074
Westfield, IN
Typical home
$503,750
Gross yield
4.9%
46037
Fishers, IN
Typical home
$474,278
Gross yield
4.9%
46077
Zionsville, IN
Typical home
$684,807
Gross yield
3.2%
46106
Bargersville, IN
Typical home
$454,912
Gross yield
4.2%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 46032 against any other ZIP — full side-by-side table.

Compare 46032 →

#Jump to section

U.S. ZIP Code · IN46032

Get more data on ZIPs like this

Get more data on ZIPs like this