The story of this market
The typical home in ZIP 46142 sells for about $319,900, or $175 per square foot.
Prices are up +1.7% from a year ago, so sellers still have some momentum. Homes take about 41 days to sell. HUD's fair market rent for a two-bedroom is $1,129 a month.
ZIP 46142 — Greenwood
The 46142 housing market remains stable with steady demand for single-family homes, driven by families attracted to the area's school districts and suburban lifestyle. While inventory is sufficient, price growth has moderated compared to previous years, reflecting a balanced market. Investors should note that while the area is a strong candidate for long-term holds, the current price point requires careful analysis of local market dynamics.
This ZIP is ideal for families seeking suburban amenities and quality schools, as well as commuters working in the Indianapolis metro area. It is less suited for those prioritizing urban walkability or high-density transit access.
Median prices moved up 1.7% year over year.
Homes spend a median of 41 days on market with 3.2 months of supply — a fast-moving market.
28% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.9% · poverty 7.4% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 46142, Johnson County, IN
Crime rates in the Greenwood area are generally considered lower than the national average, with property crime being the primary concern. Local law enforcement maintains a stable presence, and the area is often viewed as safer than the nearby Indianapolis urban core.
The area is served by highly-rated public school systems, including Greenwood Community School Corporation and Center Grove Community School Corporation, which are frequently cited as a primary draw for families.
The region faces moderate risks from severe thunderstorms and occasional flooding in low-lying areas near local creeks. Property insurance premiums are stable but reflect standard Midwestern weather-related risk profiles.
Greenwood benefits from its proximity to Indianapolis and major logistics hubs along the I-65 corridor. Development momentum is driven by continued suburban expansion, new residential subdivisions, and retail growth along the US-31 corridor.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
Residents primarily commute to downtown Indianapolis via I-65, a drive typically taking 20-30 minutes depending on traffic. Public transit options are limited, making personal vehicle ownership essential for most commuters.
The area features numerous community parks, including Craig Park and Freedom Park, which offer trails and sports facilities. Shopping and dining are concentrated along the US-31 corridor, providing extensive retail access within a 3-mile radius.
The rental market is characterized by a 31% renter share, with steady demand supported by the area's affordability relative to Indianapolis. Vacancy rates remain low, though investors face competition from institutional buyers in the single-family rental space.
The local economy is anchored by retail, healthcare, and logistics, with significant employment opportunities provided by the Greenwood Park Mall and nearby industrial parks. Proximity to Indianapolis allows for a diverse employment base.
Transportation is heavily reliant on the I-65 corridor, which serves as the primary artery for regional travel. Infrastructure projects are focused on managing traffic growth along major arterial roads.
Development is primarily focused on residential expansion and commercial infill along the US-31 and Smith Valley Road corridors. Planning efforts prioritize infrastructure upgrades to support the growing population.
The Johnson County Assessor manages property valuations, utilizing a mass appraisal system to determine annual assessments. Property owners can appeal assessments through the local board of review.
Parcels are subject to various taxing districts, including school corporations, library districts, and municipal fire/emergency service districts.
Property insurance remains stable, though homeowners are advised to maintain adequate coverage for wind and storm damage common in the region.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Features walking trails, playgrounds, and sports fields.
Large community park with extensive recreational facilities.
Major regional shopping destination serving the south side of Indianapolis.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.