Real Estate Investing in Westfield, Indiana (46074)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46074 (Westfield, 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 Westfield, IN (46074)?
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Market Analysis: 46074 Westfield
The 46074 ZIP in Westfield, IN is a local-operator market. Outside capital chasing a $509K entry has to pair deep knowledge with the discount.
From a cash-flow lens, the numbers look inviting — $509K purchase price, 0.0% nominal cap — the work to hit that pro forma in 46074 is substantial and deserves full respect.
Within IN, ZIP 46074 trails on several market indicators that neighboring Hamilton County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Stepping back, 46,042 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 46074 is an operator game, not a passive one. Stepping back, entry prices of $509K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Westfield:
Property Strategy for 46074
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $357,280 | $1,900 | 3.8% | +7.2% | $178,640 |
| 3BR | $430,525 | $2,460 | 4.1% | +6.9% | $143,508 |
| 4BR | $530,086 | $3,020 | 4.1% | +7.7% | $132,522 |
| 5BR | $679,287 | — | — | +8.1% | $135,857 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46074 Compare?
| Metric | 46074 | Westfield | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $509,414 | $509,414 | N/A | $248,442 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 7.7% |
| Avg Rent | $2,016 | $2,016 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 46074 (Westfield, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $509,414 |
| Monthly Rent | $2,016 |
| Price-to-Rent | 21.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 Rent Trends
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +4.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 46074
Population: 46,042
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 46074
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
How do experienced investors play Westfield, IN?
In Westfield, IN the robust play is typically careful cash-flow rentals with hands-on management. The combination of $509K prices and $2,016/mo rents suits that approach.
What is the typical renter like in Westfield, IN?
The tenant pool in Westfield, IN is solid, supported by local employment and population fundamentals. Rents of $2,016/mo are well-absorbed by the market.
How much is rent in Westfield, IN?
Investors in Westfield, IN typically see rents near $2,016/mo per month against $509K home values - a solid setup for rental cash flow.
Can I live-in-and-rent in Westfield, IN?
House hacking works a challenging in Westfield, IN. Rents of $2,016/mo against $509K acquisition make the strategy solid for owner-occupants.
Should investors consider Westfield, IN?
Our data puts Westfield, IN at 3.0/5 for investability. Home prices of $509K and rents around $2,016/mo create a solid backdrop for investor activity.
You know 46074 now. You don’t know where it ranks.
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How 46074 ranks in Indianapolis-Carmel-Anderson, IN
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