ZIP 46228 vs ZIP 46237

46228 is one of 36 ZIP codes that lie mostly in Marion County, IN.

Shaded by typical home value, it ranks 13 of the 34 with a value.

2 school locations in 46228: 2 elementary.

In alphabetical order: Crooked Creek Elementary School, Fox Hill Elementary School. Locations only — no ratings are shown here.

46237 is one of 36 ZIP codes that lie mostly in Marion County, IN.

Shaded by typical home value, it ranks 14 of the 34 with a value.

3 school locations in 46237: 3 elementary.

In alphabetical order: Arlington Elementary School, Bunker Hill Elementary School, Mary Bryan Elementary School. Locations only — no ratings are shown here.

In July 2003 the typical home in 46228 was worth $116,176.

Values peaked at $272,391 in March 2026. The latest reading is −1.3% from that peak.

As of August 2026: $268,791, −1.0% over twelve months.

Start with the typical home: $268,791. Put 20% down and borrow $215,033 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,489 a month in principal and interest.

The median household here earns $95,574 a year, $7,965 a month. So the payment takes 18.7% 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 8.1% in 2003.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in July 2003 (5.63%) the payment was $535.

In December 2020, with rates at 2.68%, it was $637.

By August 2026, at 6.67%, it was $1,383 — +117% since December 2020, while the home's value moved +37%.

Reported values rose +131% since July 2003.

General prices (CPI-U) rose +82% over the same span.

Divide one by the other: in August 2026 dollars, the 2003 home was worth $211,312. So the real change is +27%, not +131%.

46228: +131% since July 2003.

Marion County: +173% since July 2003.

Indiana: +143% since July 2003 — 46228 ran behind it by 12 points.

Owning the typical home costs about $1,758 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,594 a month.

Price divided by a year's rent: 14.1. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

In August 2003 the typical home in 46237 was worth $108,472.

Values peaked at $262,271 in April 2026. The latest reading is −0.7% from that peak.

As of August 2026: $260,400, −0.2% over twelve months.

Start with the typical home: $260,400. Put 20% down and borrow $208,320 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,442 a month in principal and interest.

The median household here earns $76,676 a year, $6,390 a month. So the payment takes 22.6% 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 9.4% in 2003.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in August 2003 (6.26%) the payment was $535.

In December 2020, with rates at 2.68%, it was $617.

By August 2026, at 6.67%, it was $1,340 — +117% since December 2020, while the home's value moved +37%.

Reported values rose +140% since August 2003.

General prices (CPI-U) rose +81% over the same span.

Divide one by the other: in August 2026 dollars, the 2003 home was worth $196,444. So the real change is +33%, not +140%.

46237: +140% since August 2003.

Marion County: +173% since August 2003.

Indiana: +142% since August 2003 — 46237 ran behind it by 2 points.

Owning the typical home costs about $1,703 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,695 a month.

Price divided by a year's rent: 12.8. 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 19 a month (Redfin, 3-month rolling data through August 2026). That is 58% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 41.

Going out — closed sales: about 19 a month. That is 71% of the 2015–2019 level for the same months.

The ladder: homes for sale ÷ monthly sales = 2.2 months of supply — below the 4–6 month range Lotvox treats as balanced. In the basin, that is the water level against the shaded balanced band.

The net reading: listings and sales were even.

Homes sold: about 19 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 25 — so sales ran at 76% of it, and below it in 23 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 65 a month (Redfin, 3-month rolling data through August 2026). That is 73% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 155. That is 103% of the 2015–2019 level for the same months.

Going out — closed sales: about 64 a month. That is 76% of the 2015–2019 level for the same months. The drain is drawn 27% narrower: the share of homes for sale that sell each month is 73% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 2.4 months of supply — below the 4–6 month range Lotvox treats as balanced. In the basin, that is the water level against the shaded balanced band.

The net reading: about 2 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 64 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 75 — so sales ran at 85% of it, and below it in 24 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: 41 in June 2026.

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

County assessor records list 5,790 properties with a market value here. Their average assessed market value is $284,400; the typical home value is $268,791.

The assessor average sits +5.8% 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: 155 in June 2026.

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

County assessor records list 13,880 properties with a market value here. Their average assessed market value is $266,000; the typical home value is $260,400.

The assessor average sits +2.2% from the market figure — an average against a typical value, so treat it as a check, not a verdict.