How much is a home worth in ZIP code 46226?

The typical home in 46226 is worth $165,086, based on the Zillow Home Value Index.

Are home values rising in 46226?

Home values in 46226 are down 0.6% over the past year, and up 5.5% a year over five years.

What is the typical rent in 46226?

A typical home in 46226 rents for about $1,123 a month, a gross rental yield of 8.2%.

What is the property tax rate in 46226?

The effective property tax rate in 46226 is 0.8% — roughly $1,314 a year on a typical home.

ZIP code 46226 has a population of 47,099 and a median household income of $50,325.

HousingHandbookReference data

…

U.S. ZIP Code · IN46226

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$165,086^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.6%
5-year / yr: +5.5%
10-year / yr: +9.8%

Relative price

vs U.S.: -41.9%
vs metro: -42.8%
vs state: -28.6%

Price history

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

The typical home in 46226 is worth $165,086 — 42.8% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have fallen 0.6%. Homes here rent for a typical $1,123 a month — a 8.2% 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: $1,123^[2]
Gross yield: 8.2%^[2]
Cap rate: 4.9%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $1,314^[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: 47,099^[3]
Median household income: $50,325^[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: 15
Elementary: 11
Middle: 1
High: 3

Lawrence Central High School
High · Grades 9–12 · MSD Lawrence Township
2,417 students
Belzer Middle School
Middle · Grades 7–8 · MSD Lawrence Township
1,139 students
Hoosier College and Career Academy
High · Grades 7–12 · Hoosier College and Career Academy
784 students
Harrison Hill Elementary School
Elementary · Grades 1–6 · MSD Lawrence Township
714 students
Brook Park Elementary School
Elementary · Grades 1–6 · MSD Lawrence Township
631 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 yield8.2%

Net yield (after ~40% expenses)4.9%

Annual rent$13,473

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$835

Loan principal$132,069

Down payment$33,017

Total interest paid$168,447

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 ratio0.96

Monthly cost to own$1,082

Monthly rent$1,123

Owning and renting are roughly even.

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: 35th percentile^[1]
Rental yield: 76th percentile^[2]
Property tax: 60th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46226?: The typical home in 46226 is worth $165,086, based on the Zillow Home Value Index.
Are home values rising in 46226?: Home values in 46226 are down 0.6% over the past year, and up 5.5% a year over five years.
What is the typical rent in 46226?: A typical home in 46226 rents for about $1,123 a month, a gross rental yield of 8.2%.
What is the property tax rate in 46226?: The effective property tax rate in 46226 is 0.8% — roughly $1,314 a year on a typical home.
Who lives in 46226?: ZIP code 46226 has a population of 47,099 and a median household income of $50,325.

#Comparable ZIPs

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

46241 vs 46226 →
Indianapolis city (balance), IN
Typical home
$159,549
Gross yield
9.6%
46203 vs 46226 →
Indianapolis city (balance), IN
Typical home
$171,756
Gross yield
10.4%
46201
Indianapolis city (balance), IN
Typical home
$155,952
Gross yield
9.3%
46225
Indianapolis city (balance), IN
Typical home
$175,833
Gross yield
9.9%
46036
Elwood, IN
Typical home
$154,261
Gross yield
—
46013
Anderson, IN
Typical home
$178,946
Gross yield
7.3%

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Pit ZIP 46226 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46226

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