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Housing market/Indiana/ZIP 46205

ACS 2023 · FY2027 SAFMR

ZIP 46205 Indianapolis, Indiana

Indianapolis-Carmel, IN HUD Metro FMR Area · Indiana. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
29,196
Households
12,479
Median HH income
$65,756
Renter share
48.3%
Median gross rent
$1,087
Vacancy
15.4%
Pop. change
+4.8%
2BR SAFMR
$1,590
SAFMR / rent
1.463×
2–49 unit stock
4,626
LIHTC proj / units
38 / 2,514
HUD assisted MF
4 / 385

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 46205 · IN — sent to you.

ZIP 46205 · IN

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ACS rent vs 2BR SAFMR

ZIP 46205 — Indianapolis, IN HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,087
2BR SAFMR$1,590
90% floor$1,431
110% ceiling$1,749

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 46205

  • 1-unit detached8,18255.4%
  • 1-unit attached1,48510.1%
  • 2–4 units1,0717.3%
  • 5–49 units3,55524.1%
  • 50+ units4182.8%
  • Mobile450.3%
TypeUnitsShare
1-unit detached8,18255.4%
1-unit attached1,48510.1%
2 units (duplex)5153.5%
3–4 units5563.8%
5–9 units1,72411.7%
10–19 units1,0507.1%
20–49 units7815.3%
50+ units4182.8%
Mobile450.3%

2–4 unit share 7.3% · 5–49 unit share 24.1% · combined 2–49 31.3%.

Units by bedrooms

Studio
289
1BR
2,563
2BR
4,677
3BR
4,523
4BR
2,222
5+
482

Rent burden

Rent ≥30% of income43.3%
Rent ≥50% of income19.5%
  • ACS median gross rent $1,087 (all bedrooms, occupied rentals).
  • Median contract rent $865.
  • Renters paying ≥30% of income 43.3%; ≥50% 19.5%.
  • FY2027 2BR SAFMR $1,590 (1.463× ACS median gross rent).

Population

29,196 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +4.8%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 38 projects, 2,514 units.
  • HUD project-based assisted MF: 4 properties, 385 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 285 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 46205 48.3% of occupied households are renters; vacancy is 15.4%; ACS median gross rent is $1,087; population increased +4.8% between the 2018 and 2023 ACS vintages; the housing stock includes 1,071 units in 2–4-unit structures and 3,555 units in 5–49-unit structures; 38 LIHTC projects totaling 2,514 units; FY2027 2BR SAFMR is $1,590 versus ACS median gross rent of $1,087. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Indiana research

ZIP 46205 is a Census / HUD profile for Indianapolis-Carmel, IN. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 46205 — Indianapolis, IN HUD Section 8 Payment Standards / SAFMR·Indiana ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
46030Indianapolis-Carmel, IN HUD Metro FMR Area20.9%$951$1,27046032Indianapolis-Carmel, IN HUD Metro FMR Area33.0%$1,522$2,14046033Indianapolis-Carmel, IN HUD Metro FMR Area13.1%$1,597$2,16046034Indianapolis-Carmel, IN HUD Metro FMR Area13.4%$1,038$1,41046037Indianapolis-Carmel, IN HUD Metro FMR Area18.7%$1,463$2,02046038Indianapolis-Carmel, IN HUD Metro FMR Area31.4%$1,489$1,99046040Indianapolis-Carmel, IN HUD Metro FMR Area13.2%$1,344$1,62046052Indianapolis-Carmel, IN HUD Metro FMR Area25.2%$911$1,28046055Indianapolis-Carmel, IN HUD Metro FMR Area14.7%$1,596$2,09046060Indianapolis-Carmel, IN HUD Metro FMR Area31.0%$1,215$1,66046061Indianapolis-Carmel, IN HUD Metro FMR Area——$1,96046062Indianapolis-Carmel, IN HUD Metro FMR Area19.3%$1,458$1,870

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Indiana research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 46205?

ZIP 46205 (Indianapolis-Carmel, IN HUD Metro FMR Area) has 29,196 residents, 12,479 households, a renter share of 48.3%, median household income of $65,756, and ACS 2023 median gross rent of $1,087. Vacancy is 15.4%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 46205?

ACS counts 515 units in 2-unit buildings, 556 in 3–4 unit buildings, 1,724 in 5–9, 1,050 in 10–19, and 781 in 20–49. Combined 2–49 unit stock is 4,626 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 46205?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,590. See the full schedule and 90–110% payment-standard band on the ZIP 46205 — Indianapolis, IN HUD Section 8 Payment Standards / SAFMR.

Does this Indiana ZIP profile include Georgia listings?

No. ZIP 46205 is Census / HUD research for Indianapolis-Carmel, IN HUD Metro FMR Area. Jeff Crowe CRE does not list Indiana property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.