How much is a home worth in ZIP code 46205?

The typical home in 46205 is worth $258,753, based on the Zillow Home Value Index.

Are home values rising in 46205?

Home values in 46205 are down 3.0% over the past year, and up 2.3% a year over five years.

What is the typical rent in 46205?

A typical home in 46205 rents for about $1,407 a month, a gross rental yield of 6.5%.

What is the property tax rate in 46205?

The effective property tax rate in 46205 is 0.9% — roughly $2,239 a year on a typical home.

ZIP code 46205 has a population of 28,259 and a median household income of $72,417.

HousingHandbookReference data

…

U.S. ZIP Code · IN46205

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$258,753^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -3.0%
5-year / yr: +2.3%
10-year / yr: +7.8%

Relative price

vs U.S.: -8.9%
vs metro: -10.4%
vs state: +11.8%

Price history

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

The typical home in 46205 is worth $258,753 — 10.4% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have fallen 3.0%. Homes here rent for a typical $1,407 a month — a 6.5% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $1,407^[2]
Gross yield: 6.5%^[2]
Cap rate: 3.9%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $2,239^[3]

#Climate risk

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

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

#Who lives here

Population: 28,259^[3]
Median household income: $72,417^[3]

#Migration

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

Net migration: -2,799^[5]
Moved in: 26,514
Moved out: 29,313

Schools

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

Public schools: 10
Elementary: 6
Middle: 1
High: 2

Excel Center For Adult Learners
High · Grades 9–12 · Excel Center for Adult Learners
1,285 students
IPS/Butler Lab at William Bell 60
Elementary · Grades PK–8 · Indianapolis Public Schools
615 students
Rousseau McClellan School 91
Elementary · Grades PK–8 · Indianapolis Public Schools
537 students
Center for Inquiry School 70
Elementary · Grades K–8 · Indianapolis Public Schools
454 students
Tindley Genesis Academy
Elementary · Grades K–6 · Tindley Genesis Academy
397 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 yield6.5%

Net yield (after ~40% expenses)3.9%

Annual rent$16,883

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$1,308

Loan principal$207,003

Down payment$51,751

Total interest paid$264,021

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 ratio1.22

Monthly cost to own$1,712

Monthly rent$1,407

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: 2nd percentile^[1]
Rental yield: 41st percentile^[2]
Property tax: 74th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46205?: The typical home in 46205 is worth $258,753, based on the Zillow Home Value Index.
Are home values rising in 46205?: Home values in 46205 are down 3.0% over the past year, and up 2.3% a year over five years.
What is the typical rent in 46205?: A typical home in 46205 rents for about $1,407 a month, a gross rental yield of 6.5%.
What is the property tax rate in 46205?: The effective property tax rate in 46205 is 0.9% — roughly $2,239 a year on a typical home.
Who lives in 46205?: ZIP code 46205 has a population of 28,259 and a median household income of $72,417.

#Comparable ZIPs

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

46217 vs 46205 →
Indianapolis city (balance), IN
Typical home
$259,572
Gross yield
7.2%
46231 vs 46205 →
Indianapolis city (balance), IN
Typical home
$259,605
Gross yield
9.9%
46268
Indianapolis city (balance), IN
Typical home
$255,897
Gross yield
6.9%
46237
Indianapolis city (balance), IN
Typical home
$261,738
Gross yield
7.7%
46068
Sharpsville, IN
Typical home
$265,035
Gross yield
—
46117
IN
Typical home
$265,295
Gross yield
—

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Pit ZIP 46205 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46205

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