How much is a home worth in ZIP code 46222?

The typical home in 46222 is worth $128,674, based on the Zillow Home Value Index.

Are home values rising in 46222?

Home values in 46222 are down 2.5% over the past year, and up 6.1% a year over five years.

What is the typical rent in 46222?

A typical home in 46222 rents for about $1,194 a month, a gross rental yield of 11.1%.

What is the property tax rate in 46222?

The effective property tax rate in 46222 is 0.8% — roughly $1,011 a year on a typical home.

ZIP code 46222 has a population of 38,887 and a median household income of $50,783.

HousingHandbookReference data

…

U.S. ZIP Code · IN46222

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$128,674^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -2.5%
5-year / yr: +6.1%
10-year / yr: +12.8%

Relative price

vs U.S.: -54.7%
vs metro: -55.4%
vs state: -44.4%

Price history

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

The typical home in 46222 is worth $128,674 — 55.4% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have fallen 2.5%. Homes here rent for a typical $1,194 a month — a 11.1% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

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

Monthly rent: $1,194^[2]
Gross yield: 11.1%^[2]
Cap rate: 6.7%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $1,011^[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: 38,887^[3]
Median household income: $50,783^[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: 12
Elementary: 7
Middle: 0
High: 2

Matchbook Learning
Elementary · Grades K–8 · Matchbook Learning
642 students
George Washington High School
High · Grades 9–12 · Indianapolis Public Schools
624 students
The PATH School
Elementary · Grades K–8 · The PATH School
612 students
Clarence Farrington School 61
Elementary · Grades PK–6 · Indianapolis Public Schools
532 students
Christel House Academy West
Elementary · Grades K–8 · Christel House Academy West
491 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 yield11.1%

Net yield (after ~40% expenses)6.7%

Annual rent$14,332

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$651

Loan principal$102,940

Down payment$25,735

Total interest paid$131,294

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 ratio0.71

Monthly cost to own$843

Monthly rent$1,194

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: 63rd percentile^[1]
Rental yield: 97th percentile^[2]
Property tax: 58th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

Frequently asked

How much is a home worth in ZIP code 46222?: The typical home in 46222 is worth $128,674, based on the Zillow Home Value Index.
Are home values rising in 46222?: Home values in 46222 are down 2.5% over the past year, and up 6.1% a year over five years.
What is the typical rent in 46222?: A typical home in 46222 rents for about $1,194 a month, a gross rental yield of 11.1%.
What is the property tax rate in 46222?: The effective property tax rate in 46222 is 0.8% — roughly $1,011 a year on a typical home.
Who lives in 46222?: ZIP code 46222 has a population of 38,887 and a median household income of $50,783.

#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 46222 →
Orestes, IN
Typical home
$122,204
Gross yield
—
46218 vs 46222 →
Indianapolis city (balance), IN
Typical home
$116,896
Gross yield
11.8%
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%
46226
Indianapolis city (balance), IN
Typical home
$165,086
Gross yield
8.2%

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

Compare ZIPs

Pit ZIP 46222 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46222

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