How much is a home worth in ZIP code 46214?

The typical home in 46214 is worth $232,477, based on the Zillow Home Value Index.

Are home values rising in 46214?

Home values in 46214 are down 0.4% over the past year, and up 5.5% a year over five years.

What is the typical rent in 46214?

A typical home in 46214 rents for about $1,227 a month, a gross rental yield of 6.3%.

What is the property tax rate in 46214?

The effective property tax rate in 46214 is 1.1% — roughly $2,515 a year on a typical home.

ZIP code 46214 has a population of 24,472 and a median household income of $59,178.

HousingHandbookReference data

…

U.S. ZIP Code · IN46214

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$232,477^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.4%
5-year / yr: +5.5%
10-year / yr: +7.8%

Relative price

vs U.S.: -18.2%
vs metro: -19.5%
vs state: ≈ state median

Price history

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

The typical home in 46214 is worth $232,477 — 19.5% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have fallen 0.4%. Homes here rent for a typical $1,227 a month — a 6.3% gross rental yield. The effective property tax rate is 1.1%.

#Rent & investment

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

Monthly rent: $1,227^[2]
Gross yield: 6.3%^[2]
Cap rate: 3.8%^[2]

#Property tax

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

Effective tax rate: 1.1%^[3]
Typical annual tax: $2,515^[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: 24,472^[3]
Median household income: $59,178^[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: 8
Elementary: 3
Middle: 1
High: 3

Ben Davis High School
High · Grades 10–12 · MSD Wayne Township
3,274 students
Ben Davis Ninth Grade Center
Secondary · Grades 9 · MSD Wayne Township
1,293 students
Chapel Hill 7th & 8th Grade Center
Middle · Grades 7–8 · MSD Wayne Township
1,176 students
Chapelwood Elementary School
Elementary · Grades PK–6 · MSD Wayne Township
775 students
North Wayne Elementary School
Elementary · Grades PK–6 · MSD Wayne Township
771 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 yield6.3%

Net yield (after ~40% expenses)3.8%

Annual rent$14,725

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$1,176

Loan principal$185,982

Down payment$46,495

Total interest paid$237,210

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 ratio1.29

Monthly cost to own$1,578

Monthly rent$1,227

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: 31st percentile^[1]
Rental yield: 35th percentile^[2]
Property tax: 99th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46214?: The typical home in 46214 is worth $232,477, based on the Zillow Home Value Index.
Are home values rising in 46214?: Home values in 46214 are down 0.4% over the past year, and up 5.5% a year over five years.
What is the typical rent in 46214?: A typical home in 46214 rents for about $1,227 a month, a gross rental yield of 6.3%.
What is the property tax rate in 46214?: The effective property tax rate in 46214 is 1.1% — roughly $2,515 a year on a typical home.
Who lives in 46214?: ZIP code 46214 has a population of 24,472 and a median household income of $59,178.

#Comparable ZIPs

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

46227 vs 46214 →
Indianapolis city (balance), IN
Typical home
$230,423
Gross yield
6.9%
46124 vs 46214 →
Edinburgh, IN
Typical home
$227,683
Gross yield
—
46051
Lapel, IN
Typical home
$227,642
Gross yield
—
46072
Tipton, IN
Typical home
$239,169
Gross yield
—
46182
Waldron CDP, IN
Typical home
$239,737
Gross yield
—
46176
Shelbyville, IN
Typical home
$224,202
Gross yield
6.9%

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

Compare ZIPs

Pit ZIP 46214 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46214

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