Fastest-Appreciating ZIP Codes in Indianapolis-Carmel-Anderson, IN (2026)

Ranked by 5-year compound annual growth in home values. Fast growth and strong cash flow rarely appear in the same ZIP — this is the other side of that trade.

# ZIP City Home value Rent Cap rate 5-yr growth
1 46175 Russellville, IN $205,156 $963 3.66% 8.6%
2 46172 Roachdale, IN $267,217 $990 2.89% 7.7%
3 46105 Bainbridge, IN $303,733 $927 2.38% 7.4%
4 46171 Reelsville, IN $304,700 $927 2.37% 7.2%
5 46056 Markleville, IN $283,035 $1,215 3.35% 7.0%
6 46016 1% rule Anderson, IN $84,473 $959 8.85% 7.0%
7 46280 Carmel, IN $347,917 $2,047 4.59% 6.9%
8 46150 Manilla, IN $239,620 $1,098 3.57% 6.9%
9 46166 Paragon, IN $271,613 $1,071 3.08% 6.9%
10 46186 Wilkinson, IN $285,163 $1,188 3.25% 6.9%
11 46011 Anderson, IN $214,064 $1,188 4.33% 6.8%
12 46147 Jamestown, IN $357,781 $1,134 2.47% 6.8%
13 46128 Fillmore, IN $311,250 $1,089 2.73% 6.8%
14 46102 Advance, IN $221,514 $1,287 4.53% 6.8%
15 46077 Zionsville, IN $696,543 $1,870 2.09% 6.7%
16 46160 Morgantown, IN $349,739 $999 2.23% 6.7%
17 46001 Alexandria, IN $184,412 $982 4.15% 6.7%
18 46012 Anderson, IN $187,743 $1,231 5.11% 6.7%
19 46052 Lebanon, IN $301,056 $1,766 4.58% 6.6%
20 46031 Atlanta, IN $333,927 $1,269 2.96% 6.6%
21 46124 Edinburgh, IN $233,264 $990 3.31% 6.5%
22 46161 Morristown, IN $269,678 $1,170 3.38% 6.5%
23 46069 Sheridan, IN $344,018 $1,525 3.46% 6.5%
24 46033 Carmel, IN $596,342 $2,456 3.21% 6.4%
25 46032 Carmel, IN $590,272 $1,732 2.29% 6.4%

Ranked from Repit’s own ZIP-level data — Zillow home values and rents, HUD fair-market rents where Zillow has no coverage, and U.S. Census vacancy. Cap rate is gross: annual rent over purchase price, before financing and expenses. Every ZIP above links to its full free page. How we calculate this →

Same metro, different strategy

Cash Flow in Indianapolis-Carmel-Anderson, IN  ·  Affordable in Indianapolis-Carmel-Anderson, IN

Or see the full Indianapolis-Carmel-Anderson, IN metro profile.