How much is a home worth in ZIP code 46241?

The typical home in 46241 is worth $159,549, based on the Zillow Home Value Index.

Are home values rising in 46241?

Home values in 46241 are up 1.3% over the past year, and up 5.5% a year over five years.

What is the typical rent in 46241?

A typical home in 46241 rents for about $1,276 a month, a gross rental yield of 9.6%.

What is the property tax rate in 46241?

The effective property tax rate in 46241 is 1.1% — roughly $1,751 a year on a typical home.

ZIP code 46241 has a population of 32,565 and a median household income of $53,653.

HousingHandbookReference data

…

U.S. ZIP Code · IN46241

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$159,549^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.3%
5-year / yr: +5.5%
10-year / yr: +9.8%

Relative price

vs U.S.: -43.8%
vs metro: -44.7%
vs state: -31.0%

Price history

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

The typical home in 46241 is worth $159,549 — 44.7% below the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have risen 1.3%. Homes here rent for a typical $1,276 a month — a 9.6% 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: $1,276^[2]
Gross yield: 9.6%^[2]
Cap rate: 5.8%^[2]

#Property tax

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

Effective tax rate: 1.1%^[3]
Typical annual tax: $1,751^[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: 32,565^[3]
Median household income: $53,653^[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: 5
Middle: 1
High: 1

Lynhurst 7th & 8th Grade Center
Middle · Grades 7–8 · MSD Wayne Township
1,134 students
McClelland Elementary School
Elementary · Grades PK–6 · MSD Wayne Township
725 students
Lynwood Elementary
Elementary · Grades PK–6 · MSD Decatur Township
673 students
Maplewood Elementary School
Elementary · Grades PK–6 · MSD Wayne Township
640 students
Stout Field Elementary School
Elementary · Grades PK–6 · MSD Wayne Township
629 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 yield9.6%

Net yield (after ~40% expenses)5.8%

Annual rent$15,307

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$807

Loan principal$127,639

Down payment$31,910

Total interest paid$162,797

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 ratio0.85

Monthly cost to own$1,086

Monthly rent$1,276

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: 33rd percentile^[1]
Rental yield: 90th percentile^[2]
Property tax: 100th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46241?: The typical home in 46241 is worth $159,549, based on the Zillow Home Value Index.
Are home values rising in 46241?: Home values in 46241 are up 1.3% over the past year, and up 5.5% a year over five years.
What is the typical rent in 46241?: A typical home in 46241 rents for about $1,276 a month, a gross rental yield of 9.6%.
What is the property tax rate in 46241?: The effective property tax rate in 46241 is 1.1% — roughly $1,751 a year on a typical home.
Who lives in 46241?: ZIP code 46241 has a population of 32,565 and a median household income of $53,653.

#Comparable ZIPs

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

46201 vs 46241 →
Indianapolis city (balance), IN
Typical home
$155,952
Gross yield
9.3%
46036 vs 46241 →
Elwood, IN
Typical home
$154,261
Gross yield
—
46226
Indianapolis city (balance), IN
Typical home
$165,086
Gross yield
8.2%
46203
Indianapolis city (balance), IN
Typical home
$171,756
Gross yield
10.4%
46225
Indianapolis city (balance), IN
Typical home
$175,833
Gross yield
9.9%
46013
Anderson, IN
Typical home
$178,946
Gross yield
7.3%

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

Compare ZIPs

Pit ZIP 46241 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · IN46241

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