Real Estate Investing in Indianapolis, Indiana (46222)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46222 (Indianapolis, IN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 16.0% of homes vacant — above national norms.
What’s happening in Indianapolis, IN (46222)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46222 Indianapolis
ZIP 46222 inside Marion County looks affordable on the surface — median value of $126K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 46222 is durable only for operators who understand what they are buying. A $126K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 46222's metrics run below Marion 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 46222 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 46222 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Indianapolis:
Property Strategy for 46222
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $84,554 | $1,180 | 10.0% | +9.5% | $84,554 |
| 2BR | $107,082 | $1,370 | 9.2% | +11.2% | $53,541 |
| 3BR | $143,058 | $1,770 | 8.9% | +10.8% | $47,686 |
| 4BR | $152,364 | $2,170 | 10.3% | +10.7% | $38,091 |
| 5BR | $178,489 | — | — | +7.8% | $35,698 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46222 Compare?
| Metric | 46222 | Indianapolis | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $126,403 | $240,648 | N/A | $248,442 |
| 5-Year CAGR | 4.9% | 4.1% | N/A | 7.7% |
| Avg Rent | $1,234 | $1,509 | N/A | - |
| Cap Rate | 7.6% | 5.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46222 (Indianapolis, IN). Anonymous, moderated, never written by AI.
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Property managers serving Marion County
Manage rentals here? List your business →Atlas Property Services, LLC offers quality home rentals and property management services in Indianapolis and Muncie, including single-family homes and duplexes. summary from their website
Orion Property Management offers real estate and property management services for residential and commercial properties, including leasing, collections, maintenance, and city compliance. summary from their website
Red Door Property Management offers property management services in Indianapolis, including marketing, tenant screening, maintenance, leasing, eviction protection, and Airbnb management. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $126,403 |
| Monthly Rent | $1,234 |
| Price-to-Rent | 8.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 11.7% |
| Cap Rate | 7.6% |
| 5-Year IRR | 12.5% |
📈 Home Appreciation
| 1-Year | -1.1% ▼ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +12.6% ▲ |
🏠 Rent Trends
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +7.0% ▲ |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (7.6%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46222
Population: 37,608
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 46222
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
Investor Insight: With 47,422 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is it easy to find good tenants in Indianapolis, IN?
Tenant quality in Indianapolis, IN ranks as solid. Landlords generally report steady occupancy at market rents of $1,234/mo.
Is rental property easy to operate in Indianapolis, IN?
IN law landlord-friendly for landlords, and Indianapolis inherits those rules. Investors should still review local ordinances for rental licensing.
Is housing expensive in Indianapolis, IN?
Typical homes in Indianapolis, IN go for around $126K. The 5-year CAGR of 0.0% even-keeled price movement.
What is the average monthly rent in Indianapolis, IN?
Investors in Indianapolis, IN typically see rents near $1,234/mo per month against $126K home values - a solid setup for rental cash flow.
What kind of vacancy should I budget for in Indianapolis, IN?
Rental vacancy in Indianapolis, IN is elevated. Investors should budget normal turnover but not chronic empty units.
You know 46222 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46222 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 46222 ranks in Indianapolis-Carmel-Anderson, IN
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