How much is a home worth in ZIP code 46176?

The typical home in 46176 is worth $224,202, based on the Zillow Home Value Index.

Are home values rising in 46176?

Home values in 46176 are down 0.3% over the past year, and up 6.1% a year over five years.

What is the typical rent in 46176?

A typical home in 46176 rents for about $1,295 a month, a gross rental yield of 6.9%.

What is the property tax rate in 46176?

The effective property tax rate in 46176 is 0.7% — roughly $1,615 a year on a typical home.

ZIP code 46176 has a population of 28,782 and a median household income of $65,182.

HousingHandbookReference data

…

U.S. ZIP Code · IN46176

Shelby County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$224,202^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.3%
5-year / yr: +6.1%
10-year / yr: +7.4%

Relative price

vs U.S.: -21.1%
vs metro: -22.3%
vs state: -3.1%

Price history

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

The typical home in 46176 is worth $224,202 — 22.3% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have fallen 0.3%. Homes here rent for a typical $1,295 a month — a 6.9% 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: $1,295^[2]
Gross yield: 6.9%^[2]
Cap rate: 4.2%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $1,615^[3]

#Climate risk

FEMA National Risk Index ratings for Shelby 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: 28,782^[3]
Median household income: $65,182^[3]

#Migration

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

Net migration: -3^[5]
Moved in: 1,246
Moved out: 1,249

Schools

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

Public schools: 11
Elementary: 5
Middle: 1
High: 4

Shelbyville Sr High School
High · Grades 9–12 · Shelbyville Central Schools
1,093 students
Shelbyville Middle School
Middle · Grades 6–8 · Shelbyville Central Schools
881 students
William F Loper Elementary School
Elementary · Grades K–5 · Shelbyville Central Schools
640 students
Thomas A Hendricks Elementary Sch
Elementary · Grades K–5 · Shelbyville Central Schools
556 students
Coulston Elementary School
Elementary · Grades K–5 · Shelbyville Central Schools
434 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 yield6.9%

Net yield (after ~40% expenses)4.2%

Annual rent$15,538

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$1,134

Loan principal$179,361

Down payment$44,840

Total interest paid$228,765

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 ratio1.12

Monthly cost to own$1,455

Monthly rent$1,295

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: 60th percentile^[1]
Rental yield: 54th percentile^[2]
Property tax: 38th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46176?: The typical home in 46176 is worth $224,202, based on the Zillow Home Value Index.
Are home values rising in 46176?: Home values in 46176 are down 0.3% over the past year, and up 6.1% a year over five years.
What is the typical rent in 46176?: A typical home in 46176 rents for about $1,295 a month, a gross rental yield of 6.9%.
What is the property tax rate in 46176?: The effective property tax rate in 46176 is 0.7% — roughly $1,615 a year on a typical home.
Who lives in 46176?: ZIP code 46176 has a population of 28,782 and a median household income of $65,182.

#Comparable ZIPs

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

46048 vs 46176 →
Ingalls, IN
Typical home
$223,442
Gross yield
—
46254 vs 46176 →
Indianapolis city (balance), IN
Typical home
$222,327
Gross yield
7.3%
46102
Advance, IN
Typical home
$221,453
Gross yield
—
46051
Lapel, IN
Typical home
$227,642
Gross yield
—
46124
Edinburgh, IN
Typical home
$227,683
Gross yield
—
46229
Indianapolis city (balance), IN
Typical home
$219,579
Gross yield
8.8%

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

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Pit ZIP 46176 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46176

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