Real Estate Investing in Fishers, Indiana (46040)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46040 (Fishers, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Fishers, IN (46040)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46040 Fishers
Turning to rents, ZIP 46040 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $506K median. It rewards specialists, not generalists.
Turning to rents, the numbers look inviting — $506K purchase price, 0.0% nominal cap — the work to hit that pro forma in 46040 is substantial and deserves full respect.
ZIP 46040's metrics run below Hamilton County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 46040 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 46040 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Fishers:
Property Strategy for 46040
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $208,273 | $1,530 | 5.3% | +9.0% | $104,136 |
| 3BR | $363,222 | $1,980 | 3.9% | +7.7% | $121,074 |
| 4BR | $552,759 | $2,410 | 3.1% | +8.0% | $138,190 |
| 5BR | $693,019 | — | — | +8.2% | $138,604 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46040 Compare?
| Metric | 46040 | Fishers | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $506,267 | $456,380 | N/A | $248,442 |
| 5-Year CAGR | 5.4% | 5.2% | N/A | 7.7% |
| Avg Rent | $1,831 | $1,879 | N/A | - |
| Cap Rate | 2.8% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46040 (Fishers, IN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 46040 (Fishers, IN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $506,267 |
| Monthly Rent | $1,831 |
| Price-to-Rent | 23.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46040
Population: 17,891
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 46040
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is Fishers, IN a good market for buy-and-hold investors?
The 3.0/5 investability rating in Fishers, IN reflects its $506K prices and $1,831/mo rents. Investors generally consider it a solid option within IN.
Are tenants stable in Fishers, IN?
The renter base in Fishers, IN is reasonable for the $1,831/mo price point. Screening well and pricing to market typically yields measured tenants.
Are there empty rentals in Fishers, IN?
Expect elevated vacancy in Fishers, IN. Rents at $1,831/mo are absorbed by the tenant base without meaningful lag.
What investment strategy works best in Fishers, IN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Fishers, IN. The numbers - $506K homes against $1,831/mo rents - support that play.
What do rentals go for in Fishers, IN?
Expect rents around $1,831/mo per month in Fishers, IN. With home values at $506K, the yield math works out to reasonable levels for rental investors.
You know 46040 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46040 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 46040 ranks in Indianapolis-Carmel-Anderson, IN
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 46040 (Fishers)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 46040 (Fishers, IN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.