How much is a home worth in ZIP code 46239?

The typical home in 46239 is worth $295,397, based on the Zillow Home Value Index.

Are home values rising in 46239?

Home values in 46239 are up 1.1% over the past year, and up 4.7% a year over five years.

What is the typical rent in 46239?

A typical home in 46239 rents for about $1,945 a month, a gross rental yield of 7.9%.

What is the property tax rate in 46239?

The effective property tax rate in 46239 is 0.9% — roughly $2,550 a year on a typical home.

ZIP code 46239 has a population of 33,931 and a median household income of $100,331.

HousingHandbookReference data

…

U.S. ZIP Code · IN46239

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$295,397^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.1%
5-year / yr: +4.7%
10-year / yr: +6.8%

Relative price

vs U.S.: +4.0%
vs metro: +2.3%
vs state: +27.7%

Price history

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

The typical home in 46239 is worth $295,397 — 2.3% above the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have risen 1.1%. Homes here rent for a typical $1,945 a month — a 7.9% 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: $1,945^[2]
Gross yield: 7.9%^[2]
Cap rate: 4.7%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $2,550^[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: 33,931^[3]
Median household income: $100,331^[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: 4
Middle: 3
High: 0

Edgewood Intermediate School
Middle · Grades 4–6 · Franklin Township Com Sch Corp
1,265 students
Raymond Park Intermediate & Middle
Middle · Grades 5–8 · MSD Warren Township
1,087 students
Creston Intermediate & Middle Schl
Middle · Grades 5–8 · MSD Warren Township
1,086 students
Thompson Crossing Elementary Sch
Elementary · Grades K–3 · Franklin Township Com Sch Corp
646 students
Lowell Elementary School
Elementary · Grades K–4 · MSD Warren Township
482 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 yield7.9%

Net yield (after ~40% expenses)4.7%

Annual rent$23,343

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$1,494

Loan principal$236,318

Down payment$59,079

Total interest paid$301,410

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 ratio1.00

Monthly cost to own$1,952

Monthly rent$1,945

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: 10th percentile^[1]
Rental yield: 73rd percentile^[2]
Property tax: 73rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46239?: The typical home in 46239 is worth $295,397, based on the Zillow Home Value Index.
Are home values rising in 46239?: Home values in 46239 are up 1.1% over the past year, and up 4.7% a year over five years.
What is the typical rent in 46239?: A typical home in 46239 rents for about $1,945 a month, a gross rental yield of 7.9%.
What is the property tax rate in 46239?: The effective property tax rate in 46239 is 0.9% — roughly $2,550 a year on a typical home.
Who lives in 46239?: ZIP code 46239 has a population of 33,931 and a median household income of $100,331.

#Comparable ZIPs

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

46052 vs 46239 →
Lebanon, IN
Typical home
$296,682
Gross yield
7.1%
46140 vs 46239 →
Greenfield, IN
Typical home
$293,696
Gross yield
6.6%
46151
Martinsville, IN
Typical home
$290,181
Gross yield
—
46180
Stilesville, IN
Typical home
$288,689
Gross yield
—
46157
Monrovia, IN
Typical home
$304,639
Gross yield
—
46030
Arcadia, IN
Typical home
$304,906
Gross yield
—

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#Jump to section

U.S. ZIP Code · IN46239

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