How much is a home worth in ZIP code 46256?

The typical home in 46256 is worth $347,808, based on the Zillow Home Value Index.

Are home values rising in 46256?

Home values in 46256 are up 1.8% over the past year, and up 4.9% a year over five years.

What is the typical rent in 46256?

A typical home in 46256 rents for about $1,231 a month, a gross rental yield of 4.2%.

What is the property tax rate in 46256?

The effective property tax rate in 46256 is 0.9% — roughly $3,296 a year on a typical home.

ZIP code 46256 has a population of 20,990 and a median household income of $93,847.

HousingHandbookReference data

…

U.S. ZIP Code · IN46256

Marion County · Indianapolis-Carmel-Greenwood, IN

Typical home value

$347,808^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.8%
5-year / yr: +4.9%
10-year / yr: +6.4%

Relative price

vs U.S.: +22.4%
vs metro: +20.5%
vs state: +50.3%

Price history

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

The typical home in 46256 is worth $347,808 — 20.5% above the Indianapolis-Carmel-Greenwood, IN median. Over the past year, values have risen 1.8%. Homes here rent for a typical $1,231 a month — a 4.2% 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: $1,231^[2]
Gross yield: 4.2%^[2]
Cap rate: 2.5%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $3,296^[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: 20,990^[3]
Median household income: $93,847^[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: 4
Elementary: 2
Middle: 0
High: 2

Lawrence North High School
High · Grades 9–12 · MSD Lawrence Township
2,832 students
Mary Evelyn Castle Elementary Sch
Elementary · Grades 1–6 · MSD Lawrence Township
766 students
Crestview Elementary School
Elementary · Grades 1–6 · MSD Lawrence Township
596 students
McKenzie Career Center
High · Grades 6–12 · MSD Lawrence Township
0 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 yield4.2%

Net yield (after ~40% expenses)2.5%

Annual rent$14,770

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$1,759

Loan principal$278,247

Down payment$69,562

Total interest paid$354,888

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 ratio1.89

Monthly cost to own$2,324

Monthly rent$1,231

Renting 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: 15th percentile^[1]
Rental yield: 8th percentile^[2]
Property tax: 90th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 46256?: The typical home in 46256 is worth $347,808, based on the Zillow Home Value Index.
Are home values rising in 46256?: Home values in 46256 are up 1.8% over the past year, and up 4.9% a year over five years.
What is the typical rent in 46256?: A typical home in 46256 rents for about $1,231 a month, a gross rental yield of 4.2%.
What is the property tax rate in 46256?: The effective property tax rate in 46256 is 0.9% — roughly $3,296 a year on a typical home.
Who lives in 46256?: ZIP code 46256 has a population of 20,990 and a median household income of $93,847.

#Comparable ZIPs

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

46147 vs 46256 →
Jamestown, IN
Typical home
$348,665
Gross yield
—
46122 vs 46256 →
Danville, IN
Typical home
$348,821
Gross yield
—
46204
Indianapolis city (balance), IN
Typical home
$346,667
Gross yield
5.6%
46220
Indianapolis city (balance), IN
Typical home
$346,227
Gross yield
5.4%
46165
North Salem, IN
Typical home
$351,258
Gross yield
—
46202
Indianapolis city (balance), IN
Typical home
$351,449
Gross yield
4.9%

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#Jump to section

U.S. ZIP Code · IN46256

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