ZIP 46204

46204 is one of 36 ZIP codes that lie mostly in Marion County, IN.

Shaded by typical home value, it ranks 7 of the 34 with a value.

2 school locations in 46204: 1 middle, 1 high.

In alphabetical order: Arlington Community Middle School, Dept of Correction Adult Schools. Locations only — no ratings are shown here.

In July 2003 the typical home in 46204 was worth $178,457.

Values peaked at $367,583 in December 2021. The latest reading is −6.5% from that peak.

As of August 2026: $343,677, +2.0% over twelve months.

Start with the typical home: $343,677. Put 20% down and borrow $274,942 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,904 a month in principal and interest.

The median household here earns $88,081 a year, $7,340 a month. So the payment takes 25.9% 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 13.5% 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 $823.

In December 2020, with rates at 2.68%, it was $1,103.

By August 2026, at 6.67%, it was $1,768 — +60% since December 2020, while the home's value moved +1%.

Reported values rose +93% 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 $324,595. So the real change is +6%, not +93%.

46204: +93% since July 2003.

Marion County: +173% since July 2003.

Indiana: +143% since July 2003 — 46204 ran behind it by 51 points.

Owning the typical home costs about $2,247 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,704 a month.

Price divided by a year's rent: 16.8. 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 11 a month (Redfin, 3-month rolling data through August 2026).

On the shelf — homes for sale at the end of the period: 59.

Going out — closed sales: about 8 a month. The drain is drawn 48% narrower: the share of homes for sale that sell each month is 52% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 7.1 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 3 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 8 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 8 — so sales ran at 100% of it, and below it in 18 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: 59 in June 2026.

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

County assessor records list 1,077 properties with a market value here. Their average assessed market value is $346,500; the typical home value is $343,677.

The assessor average sits +0.8% from the market figure — an average against a typical value, so treat it as a check, not a verdict.