The story of this market
The typical home in ZIP 46165 sells for about $287,000, or $165 per square foot.
Prices are up +19.6% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,613 a month.
ZIP 46165 — North Salem
The 46165 housing market is experiencing steady price appreciation driven by low inventory and consistent demand for rural residential properties. While sales volume remains modest, the market is competitive for well-priced homes. Most figures are based on current market reports; some specific metrics like exact monthly closed sales are preliminary.
This ZIP code is best suited for families and individuals seeking a quiet, rural lifestyle who are willing to commute to larger employment centers for work.
Median prices moved up 19.6% year over year.
Homes spend a median of 45 days on market with 4.5 months of supply — a fast-moving market.
12% 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 0.7% · poverty 4.7% — 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 6.3%/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 5.3%/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 46165, Hendricks County IN
North Salem is a small rural community with low reported crime rates that are significantly lower than the Indiana state average.
The area is served by the Tri-West Hendricks School Corporation, which is generally well-regarded for its academic performance and community-focused environment.
The region is primarily at risk for severe thunderstorms and occasional wind damage, with standard flood risks associated with local creek basins.
Growth is characterized by slow, steady residential development with limited commercial expansion, maintaining the town's rural character while benefiting from proximity to Indianapolis employment hubs.
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.
Commuters typically drive 30-45 minutes to reach the Indianapolis metropolitan area via US-136 and I-74.
Local amenities include North Salem Memorial Park and proximity to McCloud Nature Park, which offers extensive hiking trails and outdoor recreation.
The rental market is limited with low inventory and high demand, primarily driven by individuals seeking a rural lifestyle within commuting distance of the city.
The local economy is primarily agricultural and residential, with most residents employed in the broader Indianapolis metropolitan area.
Transportation is entirely dependent on private vehicles, with no public transit infrastructure available in the area.
Development is strictly managed to preserve the rural landscape, with no major commercial or high-density residential projects currently approved.
Hendricks County Assessor manages property valuations based on annual market adjustments and state-mandated assessment cycles.
Parcels are subject to Tri-West Hendricks School Corporation taxes and standard county-level service districts.
Property insurance premiums are stable, reflecting the low-risk profile for natural disasters in this part of Indiana.
Data retrieved from data.census.gov ZCTA 46165 profile.
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.
- Slick City Action Park4.515.6 mi
- Splash Island4.214.7 mi
- Urban Air Trampoline and Adventure Park4.417.2 mi
- Sky Zone Plainfield Trampoline Park4.318.6 mi
- Skateland4.119.5 mi
- Lucas Oil Indianapolis Raceway Park4.715.9 mi
- Slick City Action Park4.515.6 mi
- Ironman Raceway4.819.6 mi
- Hendricks County Fairgrounds4.69.4 mi
- Beasley's Orchard4.79.9 mi
- Beasley's Orchard4.79.9 mi
- Washington Township Park4.712.7 mi
- McCloud Nature Park4.92.2 mi
- W.S. Gibbs Memorial Park4.712.6 mi
- Ellis Park4.78.1 mi
- Williams Park4.712.4 mi
- Washington Township Park4.712.7 mi
- Arbuckle Acres Park4.712.9 mi
- McCloud Nature Park4.92.2 mi
- W.S. Gibbs Memorial Park4.712.6 mi
- Heritage Lake Marina4.88.7 mi
- West Chase Golf Club4.211.4 mi
- Twin Bridges Golf Club4.18.5 mi
- Quail Creek Golf Club4.110.5 mi
- Pittsboro Golf Course4.28.8 mi
- The Prestwick2.712.3 mi
- Beasley's Orchard4.79.9 mi
- Kohl's4.312.6 mi
- Trader Buck’s Flea Market48.9 mi
- Prestwick At the Crossing4.212 mi
- Indianapolis International Airport4.619.5 mi
- Flights Craft Bar & Kitchen3.921.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Features extensive hiking trails, a historic bridge, and nature education programs.
A community park serving as a local gathering space for events and recreation.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).