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Market MapIndianapolis, IN
Metropolitan Area

Indianapolis, IN

Indiana08 counties
62
/100
Buy
#453 of 894 metros
Top 51% nationally for investing

Market Snapshot

$285,179
Median Home Price
17% above national median
$1,504/mo
Median Rent
9% above national median
6.33%
Rent-to-Price Ratio
Top 42% nationally
-$517
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Price History

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

20%
5%50%100%

Purchase

Purchase Price$285,179
Down Payment (20%)$57,036
Loan Amount$228,143
Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,504
Monthly P&I-$1,495
Est. Expenses (35%)-$527
Net Cash Flow-$517/mo
4.1%
Cap Rate (all cash)
-9.5%
Cash-on-Cash Return
6.33%
Rent-to-Price Ratio
Negative leverage: At 6.85% rates, borrowing costs exceed the 4.1% cap rate. All-cash buyers may see better returns.

* Based on metro-wide median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Individual counties and properties vary significantly.

Run Full AnalysisTry House Hack Strategy

Score Breakdown

Overall Investment Score
62/100
62
Cash Flow(30%)
63/100

Based on 6.33% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)
67/100

Based on 2.0% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Based on 0.0% population growth. Growing areas indicate economic stability.

Affordability(20%)
69/100

Based on price relative to estimated local incomes.

Scores are calculated using real Zillow metro-level home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. This metro score represents area-wide averages; individual counties may vary significantly.

Investment Outlook

Strengths

  • +Low unemployment (0.0%)
  • +Large metro with 8 counties offering diverse opportunities

Challenges

  • -Negative cash flow at typical financing (-$517/mo)
  • -Negative leverage (cap rate 4.1% < mortgage rate 6.9%)

Counties in Indianapolis, IN

Best Overall
Hancock
IN - Score: 65
Best Cash Flow
Marion
IN - Score: 63
Verdict
HancockIN
80,17065$320,159$1,7346.50%BuyView
ShelbyIN
44,94064$235,523$1,4147.20%BuyView
BooneIN
71,23563$406,496$1,8105.34%BuyView
MarionIN
971,73763$223,606$1,3647.32%BuyView
MorganIN
71,75763$289,606$1,5236.31%BuyView
HendricksIN
175,63961$333,178$1,7446.28%BuyView
JohnsonIN
161,95261$305,267$1,5516.10%BuyView
HamiltonIN
349,52759$448,941$1,7914.79%HoldView

Click any county to see detailed investment analysis

Compare to Similar Metros

Metro AreaVerdict
Paducah, KY
Paducah, KY
82$165,710$1,2919.35%Strong BuyView
Indiana, PA
Indiana, PA
82$158,790$1,37610.40%Strong BuyView
Connersville, IN
Connersville, IN
82$158,083Est.Strong BuyView
Enid, OK
Enid, OK
81$137,435$1,0769.39%Strong BuyView
Danville, IL
Danville, IL
81$93,319$81510.48%Strong BuyView
Current
Indianapolis, IN
62$285,179$1,5046.33%Buy

The Bottom Line

BuyIndianapolis, IN offers solid investment potential with good cash flow or appreciation prospects.

The Indianapolis, IN metro area scores 62/100, ranking #453 of 894 US metros (top 51%). The 6.33% rent-to-price ratio indicates moderate cash flow potential. Among 8 counties, Hancock shows the strongest investment potential (score: 65). Current metro-wide averages make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or drilling down to specific counties.

Monthly Cash Flow
$-517/mo
Cap Rate
4.1%
Cash-on-Cash
-10.9%

Ready to Invest in Indianapolis, IN?

Use our investment calculators to run detailed numbers on specific properties, or explore individual counties for more targeted opportunities.

Single Family1-4 unit rentalsHouse HackOwner-occupiedMultifamily5+ unit propertiesBest CountyHancock
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