The Most Expensive Zip Codes in Indiana

Quick facts:

• Indiana’s #1 most expensive zip code is 46290 in Indianapolis
• Indiana’s priciest zips are also concentrated in Greater Indianapolis
• Boomtown Carmel is home to 2 of the state’s 50 most expensive zip codes

Recently named the most affordable state for homebuyers, Indiana home values inched up 0.5% in 2016, with the current year expected to push values up by 3%. Indiana’s overall housing market however, can vary greatly from region to region. While most of the state remains highly affordable, in Central Indiana prices continue to grow in the ever-tightening housing market of Greater Indianapolis, where supply has decreased by 20% or more in six counties.

With prices on the rise around the state capital region, Indianapolis is also home to the state’s #1 most expensive zip code – 46290. Topping the Hoosier State’s most expensive areas to live in, 46290 is home to tree-lined streets populated by pricey single family homes and job creators such as the GEICO Corporate Headquarters. Indiana’s #1 most expensive zip code is also well located for fun and leisure opportunities – 46290 is less than 15 minutes drive from a bevy of shopping destinations, golf and country clubs, breweries, restaurants and bars. And as single family supply is low in pricey 46290, the median home price here reached $441,100 between July 2016 and June 2017, making it Indiana’s most expensive zip code.

Named the best city in which to live in the United States many times over the past few years, Carmel is one of the fastest-growing communities not only in Indiana, but nationwide. The north Indianapolis suburb is also home to 2 of the state’s top 10 priciest zip codes – in 46032, the 9^th priciest zip in the state, homes fetch a median $267,750, while 46033 landed at #6 with a median sale price of $319,900.

The 5^th largest city in Indiana, Carmel is known for great schools, both private and public, low crime levels and a growing city infrastructure for outdoor destinations like the popular biking route at Monon Trail. As for job opportunities, 40 corporate headquarters are located in town, including the national headquarters of Allegion and CNO Financial Group.

Situated to the west of Carmel, Fishers holds 3 of Indiana’s priciest zips, including 46040, the 2^nd most expensive zip code in the state. Homes in this part of Fishers trade for a median $439,500.  A small town of about 7,500 in the early ‘90s, Fishers has since seen its population balloon, with the most recent Census estimates putting the number of residents above 90,000. Just 16 miles from downtown Indianapolis, Fishers residents commute a little over 20 minutes on average. Navient, Hamilton Southeastern Schools and Roche Diagnostics are the top employers in town.

Fishers was also the setting for Indiana’s most expensive residential transaction in the past 12 months. Located in zip 46037, the 11^th priciest zip code in Indiana, 10606 Brooks School Road, Fishers traded hands for $2,165,000 back in December 2016. The single-story home showcases 13,652 square feet of luxurious waterfront living on the shores of the Geist Reservoir. The 6-bed, 6-bath home features 7 fireplaces, a den/library, home office, hot tub and sauna. The 5.23-acre wooded property also features a dock on the navigable waterfront.

Nestled up against the shores of Lake Michigan in Indiana’s northwestern corner, Beverly Shores is home to Indiana’s 3^rd most expensive zip code, 46301. Located about 50 miles from downtown Chicago, small-town Beverly Shores is a second-home community for many Chicagoans, with the median home price clocking in at $410,000. The small lakefront community is also a hit with artists and the Beverly Shores South Shore Railroad Station, a National Register of Historic Places landmark, houses a local art gallery and museum in the restored train depot. Popular with birders and outdoorspeople, Beverly Shores is also an International Dark Sky community.

Check out the 50 most expensive zip codes in Indiana below:

Methodology:  In order to determine which were the most expensive ZIP codes in Indiana, we looked at all residential transactions closed in between July 2016 and June 2017, taking into account condo, co-op, single- and the two-family homes. All package deals were excluded.