ZIP 46240 vs ZIP 46202

46240 is one of 36 ZIP codes that lie mostly in Marion County, IN — 98% of its own area is in the county.

Shaded by typical home value, it ranks 3 of the 34 with a value.

8 school locations in 46240: 3 elementary, 1 middle, 4 high.

In alphabetical order: Clearwater Elementary School, Hilltop School, IN Math & Science Academy - North, IN Sch for the Blind & Vis Imprd, and more on the ZIP page. Locations only — no ratings are shown here.

46202 is one of 36 ZIP codes that lie mostly in Marion County, IN.

Shaded by typical home value, it ranks 4 of the 34 with a value.

12 school locations in 46202: 2 elementary, 7 middle, 3 high.

In alphabetical order: Center For Inquiry School 2, Center for Inquiry School 27, Crispus Attucks High School, Global Preparatory Academy, and more on the ZIP page. Locations only — no ratings are shown here.

In July 2003 the typical home in 46240 was worth $166,365.

Values peaked at $369,342 in March 2026. The latest reading is −1.0% from that peak.

As of August 2026: $365,585, +1.0% over twelve months.

Start with the typical home: $365,585. Put 20% down and borrow $292,468 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $2,025 a month in principal and interest.

The median household here earns $70,728 a year, $5,894 a month. So the payment takes 34.4% of income — rated “stretched” (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 15.6% 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 $767.

In December 2020, with rates at 2.68%, it was $893.

By August 2026, at 6.67%, it was $1,881 — +111% since December 2020, while the home's value moved +32%.

Reported values rose +120% 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 $302,600. So the real change is +21%, not +120%.

46240: +120% since July 2003.

Marion County: +173% since July 2003.

Indiana: +143% since July 2003 — 46240 ran behind it by 23 points.

Owning the typical home costs about $2,391 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,533 a month.

Price divided by a year's rent: 19.9. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

In July 2003 the typical home in 46202 was worth $91,343.

Values peaked at $359,348 in June 2022. The latest reading is −3.7% from that peak.

As of August 2026: $345,980, −0.1% over twelve months.

Start with the typical home: $345,980. Put 20% down and borrow $276,784 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,916 a month in principal and interest.

The median household here earns $61,082 a year, $5,090 a month. So the payment takes 37.6% of income — rated “severe” (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 9.9% 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 $421.

In December 2020, with rates at 2.68%, it was $984.

By August 2026, at 6.67%, it was $1,780 — +81% since December 2020, while the home's value moved +14%.

Reported values rose +279% 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 $166,143. So the real change is +108%, not +279%.

46202: +279% since July 2003.

Marion County: +173% since July 2003.

Indiana: +143% since July 2003 — 46202 ran ahead of it by 136 points.

Owning the typical home costs about $2,262 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,492 a month.

Price divided by a year's rent: 19.3. 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 26 a month (Redfin, 3-month rolling data through August 2026). That is 86% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 51.

Going out — closed sales: about 26 a month. That is 80% of the 2015–2019 level for the same months.

The ladder: homes for sale ÷ monthly sales = 2.0 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 0 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 26 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 25 — so sales ran at 104% of it, and below it in 16 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 42 a month (Redfin, 3-month rolling data through August 2026). That is 126% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 149.

Going out — closed sales: about 31 a month. That is 97% of the 2015–2019 level for the same months. The drain is drawn 24% narrower: the share of homes for sale that sell each month is 76% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 4.9 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 11 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 31 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 24 — so sales ran at 129% of it, and below it in 11 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: 51 in June 2026.

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

County assessor records list 5,515 properties with a market value here. Their average assessed market value is $351,200; the typical home value is $365,585.

The assessor average sits −3.9% 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: 149 in June 2026.

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

County assessor records list 5,152 properties with a market value here. Their average assessed market value is $349,900; the typical home value is $345,980.

The assessor average sits +1.1% from the market figure — an average against a typical value, so treat it as a check, not a verdict.