ZIP 46231

46231 is one of 12 ZIP codes that lie mostly in Hendricks County, IN — 52% of its own area is in the county.

Shaded by typical home value, it ranks 11 of the 12 with a value.

1 school location in 46231: 1 middle.

In alphabetical order: Bridgeport Elementary School. Locations only — no ratings are shown here.

In August 2003 the typical home in 46231 was worth $115,255.

Values peaked at $258,827 in March 2026. The latest reading is −1.5% from that peak.

As of August 2026: $255,042, −1.0% over twelve months.

Start with the typical home: $255,042. Put 20% down and borrow $204,034 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,413 a month in principal and interest.

The median household here earns $76,823 a year, $6,402 a month. So the payment takes 22.1% 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 10.0% 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 $569.

In December 2020, with rates at 2.68%, it was $591.

By August 2026, at 6.67%, it was $1,312 — +122% since December 2020, while the home's value moved +40%.

Reported values rose +121% 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 $208,728. So the real change is +22%, not +121%.

46231: +112% since November 2004.

Hendricks County: +111% since November 2004.

Indiana: +133% since November 2004 — 46231 ran behind it by 21 points.

Owning the typical home costs about $1,668 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $2,080 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.

Homes sold: about 9 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 18 — so sales ran at 50% of it, and below it in 23 of the last 24 months.

Across Hendricks County, builders pulled permits for 1,654 new homes in 2025.

Of those, 96% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in Hendricks County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 4,246 moved in. Among the ten receiving the most, 4,017 moved out.

Net across those counties: +229 households. Beside it, homes for sale in this ZIP: 21 in June 2026.

Most arrivals came from Marion, IN (2,890 households); most departures went to Marion, IN (2,161).

County assessor records list 2,423 properties with a market value here. Their average assessed market value is $255,000; the typical home value is $255,042.

The assessor average sits 0.0% from the market figure — an average against a typical value, so treat it as a check, not a verdict.