How much is a home worth in ZIP code 46140?

The typical home in 46140 is worth $293,696, based on the Zillow Home Value Index.

Are home values rising in 46140?

Home values in 46140 are up 2.0% over the past year, and up 5.9% a year over five years.

What is the typical rent in 46140?

A typical home in 46140 rents for about $1,613 a month, a gross rental yield of 6.6%.

What is the property tax rate in 46140?

The effective property tax rate in 46140 is 0.7% — roughly $2,002 a year on a typical home.

ZIP code 46140 has a population of 43,511 and a median household income of $83,056.

HousingHandbookReference data

…

U.S. ZIP Code · IN46140

Hancock County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$293,696^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.0%
5-year / yr: +5.9%
10-year / yr: +7.0%

Relative price

vs U.S.: +3.4%
vs metro: +1.7%
vs state: +26.9%

Price history

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

The typical home in 46140 is worth $293,696 — 1.7% above the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have risen 2.0%. Homes here rent for a typical $1,613 a month — a 6.6% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

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

Monthly rent: $1,613^[2]
Gross yield: 6.6%^[2]
Cap rate: 4.0%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $2,002^[3]

#Climate risk

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

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

#Who lives here

Population: 43,511^[3]
Median household income: $83,056^[3]

#Migration

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

Net migration: +1,124^[5]
Moved in: 3,759
Moved out: 2,635

Schools

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

Public schools: 9
Elementary: 5
Middle: 2
High: 1

Greenfield-Central High School
High · Grades 9–12 · Greenfield-Central Com Schools
1,430 students
Mt Comfort Elementary School
Elementary · Grades K–5 · Mt Vernon Community School Corp
692 students
Greenfield Central Junior High Sch
Middle · Grades 7–8 · Greenfield-Central Com Schools
662 students
JB Stephens Elementary School
Prekindergarten · Grades PK · Greenfield-Central Com Schools
565 students
Greenfield Intermediate School
Middle · Grades 4–6 · Greenfield-Central Com Schools
458 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 yield6.6%

Net yield (after ~40% expenses)4.0%

Annual rent$19,354

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$1,485

Loan principal$234,957

Down payment$58,739

Total interest paid$299,675

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 ratio1.18

Monthly cost to own$1,896

Monthly rent$1,613

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: 50th percentile^[1]
Rental yield: 44th percentile^[2]
Property tax: 32nd percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

4th for fastest-growing in INView list →

Frequently asked

How much is a home worth in ZIP code 46140?: The typical home in 46140 is worth $293,696, based on the Zillow Home Value Index.
Are home values rising in 46140?: Home values in 46140 are up 2.0% over the past year, and up 5.9% a year over five years.
What is the typical rent in 46140?: A typical home in 46140 rents for about $1,613 a month, a gross rental yield of 6.6%.
What is the property tax rate in 46140?: The effective property tax rate in 46140 is 0.7% — roughly $2,002 a year on a typical home.
Who lives in 46140?: ZIP code 46140 has a population of 43,511 and a median household income of $83,056.

#Comparable ZIPs

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

46239 vs 46140 →
Indianapolis city (balance), IN
Typical home
$295,397
Gross yield
7.9%
46052 vs 46140 →
Lebanon, IN
Typical home
$296,682
Gross yield
7.1%
46151
Martinsville, IN
Typical home
$290,181
Gross yield
—
46180
Stilesville, IN
Typical home
$288,689
Gross yield
—
46157
Monrovia, IN
Typical home
$304,639
Gross yield
—
46030
Arcadia, IN
Typical home
$304,906
Gross yield
—

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#Jump to section

U.S. ZIP Code · IN46140

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