How much is a home worth in ZIP code 46218?

The typical home in 46218 is worth $116,896, based on the Zillow Home Value Index.

Are home values rising in 46218?

Home values in 46218 are down 3.5% over the past year, and up 7.1% a year over five years.

What is the typical rent in 46218?

A typical home in 46218 rents for about $1,146 a month, a gross rental yield of 11.8%.

What is the property tax rate in 46218?

The effective property tax rate in 46218 is 0.7% — roughly $766 a year on a typical home.

ZIP code 46218 has a population of 29,360 and a median household income of $38,063.

HousingHandbookReference data

…

U.S. ZIP Code · IN46218

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$116,896^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -3.5%
5-year / yr: +7.1%
10-year / yr: +15.1%

Relative price

vs U.S.: -58.8%
vs metro: -59.5%
vs state: -49.5%

Price history

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

The typical home in 46218 is worth $116,896 — 59.5% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have fallen 3.5%. Homes here rent for a typical $1,146 a month — a 11.8% 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: $1,146^[2]
Gross yield: 11.8%^[2]
Cap rate: 7.1%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $766^[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: 29,360^[3]
Median household income: $38,063^[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: 7
Elementary: 4
Middle: 1
High: 2

KIPP Indy Unite Elementary
Elementary · Grades K–5 · KIPP Indy Unite Elementary
708 students
James Russell Lowell School 51
Elementary · Grades PK–7 · Indianapolis Public Schools
528 students
KIPP Indy Legacy High
High · Grades 9–12 · KIPP Indy Legacy High
386 students
Anna Brochhausen School 88
Elementary · Grades PK–6 · Indianapolis Public Schools
384 students
KIPP Indy College Prep Middle
Middle · Grades 6–8 · KIPP Indy College Prep Middle
369 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 yield11.8%

Net yield (after ~40% expenses)7.1%

Annual rent$13,748

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$591

Loan principal$93,517

Down payment$23,379

Total interest paid$119,276

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 ratio0.66

Monthly cost to own$753

Monthly rent$1,146

Owning 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: 86th percentile^[1]
Rental yield: 98th percentile^[2]
Property tax: 29th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 46218?: The typical home in 46218 is worth $116,896, based on the Zillow Home Value Index.
Are home values rising in 46218?: Home values in 46218 are down 3.5% over the past year, and up 7.1% a year over five years.
What is the typical rent in 46218?: A typical home in 46218 rents for about $1,146 a month, a gross rental yield of 11.8%.
What is the property tax rate in 46218?: The effective property tax rate in 46218 is 0.7% — roughly $766 a year on a typical home.
Who lives in 46218?: ZIP code 46218 has a population of 29,360 and a median household income of $38,063.

#Comparable ZIPs

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

46063 vs 46218 →
Orestes, IN
Typical home
$122,204
Gross yield
—
46222 vs 46218 →
Indianapolis city (balance), IN
Typical home
$128,674
Gross yield
11.1%
46016
Anderson, IN
Typical home
$85,059
Gross yield
13.1%
46036
Elwood, IN
Typical home
$154,261
Gross yield
—
46201
Indianapolis city (balance), IN
Typical home
$155,952
Gross yield
9.3%
46241
Indianapolis city (balance), IN
Typical home
$159,549
Gross yield
9.6%

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

Compare ZIPs

Pit ZIP 46218 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46218

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