ZIP 46225 vs ZIP 46203

46225 is one of 36 ZIP codes that lie mostly in Marion County, IN.

Shaded by typical home value, it ranks 28 of the 34 with a value.

5 school locations in 46225: 2 middle, 3 high.

In alphabetical order: Christel House Academy South, Christel House DORS, Christel House Watanabe Manual High School, Emmerich Manual High School, and more on the ZIP page. Locations only — no ratings are shown here.

46203 is one of 36 ZIP codes that lie mostly in Marion County, IN.

Shaded by typical home value, it ranks 29 of the 34 with a value.

12 school locations in 46203: 11 middle, 1 high.

In alphabetical order: Bethel Park Elementary | pilotED Schools, Eleanor Skillen School 34, Emma Donnan Elementary and Middle, Emma Donnan Middle School, and more on the ZIP page. Locations only — no ratings are shown here.

In February 2004 the typical home in 46225 was worth $43,443.

Values peaked at $187,778 in May 2023. The latest reading is −8.6% from that peak.

As of August 2026: $171,536, −3.8% over twelve months.

Start with the typical home: $171,536. Put 20% down and borrow $137,229 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $950 a month in principal and interest.

The median household here earns $47,917 a year, $3,993 a month. So the payment takes 23.8% of income — rated “affordable” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 6.0% in 2004.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in February 2004 (5.64%) the payment was $200.

In December 2020, with rates at 2.68%, it was $456.

By August 2026, at 6.67%, it was $883 — +94% since December 2020, while the home's value moved +22%.

Reported values rose +295% since February 2004.

General prices (CPI-U) rose +79% over the same span.

Divide one by the other: in August 2026 dollars, the 2004 home was worth $77,749. So the real change is +121%, not +295%.

46225: +295% since February 2004.

Marion County: +169% since February 2004.

Indiana: +140% since February 2004 — 46225 ran ahead of it by 155 points.

Owning the typical home costs about $1,122 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,405 a month.

Price divided by a year's rent: 10.2. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

In December 2003 the typical home in 46203 was worth $49,021.

Values peaked at $174,716 in May 2023. The latest reading is −4.7% from that peak.

As of August 2026: $166,519, −2.1% over twelve months.

Start with the typical home: $166,519. Put 20% down and borrow $133,215 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $922 a month in principal and interest.

The median household here earns $55,375 a year, $4,615 a month. So the payment takes 20.0% of income — rated “affordable” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 5.9% in 2003.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in December 2003 (5.88%) the payment was $232.

In December 2020, with rates at 2.68%, it was $423.

By August 2026, at 6.67%, it was $857 — +103% since December 2020, while the home's value moved +28%.

Reported values rose +240% since December 2003.

General prices (CPI-U) rose +80% over the same span.

Divide one by the other: in August 2026 dollars, the 2003 home was worth $88,299. So the real change is +89%, not +240%.

46203: +240% since December 2003.

Marion County: +170% since December 2003.

Indiana: +140% since December 2003 — 46203 ran ahead of it by 100 points.

Owning the typical home costs about $1,089 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,469 a month.

Price divided by a year's rent: 9.4. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 18 a month (Redfin, 3-month rolling data through August 2026).

On the shelf — homes for sale at the end of the period: 76.

Going out — closed sales: about 10 a month. The drain is drawn 38% narrower: the share of homes for sale that sell each month is 62% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 7.4 months of supply — above the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 8 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 10 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 11 — so sales ran at 91% of it, and below it in 12 of the last 24 months.

Across Marion County, builders pulled permits for 1,342 new homes in 2025.

Of those, 78% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 86 a month (Redfin, 3-month rolling data through August 2026). That is 98% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 289. That is 138% of the 2015–2019 level for the same months.

Going out — closed sales: about 60 a month. That is 80% of the 2015–2019 level for the same months. The drain is drawn 44% narrower: the share of homes for sale that sell each month is 56% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 4.8 months of supply — inside the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 26 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 60 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 68 — so sales ran at 88% of it, and below it in 17 of the last 24 months.

Across Marion County, builders pulled permits for 1,342 new homes in 2025.

Of those, 78% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in Marion County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 11,073 moved in. Among the ten receiving the most, 14,542 moved out.

Net across those counties: −3,469 households. Beside it, homes for sale in this ZIP: 76 in June 2026.

Most arrivals came from Hamilton, IN (3,043 households); most departures went to Hamilton, IN (3,949).

County assessor records list 2,514 properties with a market value here. Their average assessed market value is $144,450; the typical home value is $171,536.

The assessor average sits −15.8% from the market figure — an average against a typical value, so treat it as a check, not a verdict.

This ZIP sits in Marion County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 11,073 moved in. Among the ten receiving the most, 14,542 moved out.

Net across those counties: −3,469 households. Beside it, homes for sale in this ZIP: 289 in June 2026.

Most arrivals came from Hamilton, IN (3,043 households); most departures went to Hamilton, IN (3,949).

County assessor records list 14,061 properties with a market value here. Their average assessed market value is $153,500; the typical home value is $166,519.

The assessor average sits −7.8% from the market figure — an average against a typical value, so treat it as a check, not a verdict.