Jul 12, 2023 - News
Suburban spread drives up Indianapolis-area home prices
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Living in the suburbs keeps getting more expensive.
What's happening: While home prices in Carmel and Zionsville ZIP codes are the most expensive in the metro area as of April 2023, prices rose the fastest outside those already heavily developed areas from April 2022 to April 2023, per Zillow data.
- ZIP codes in western Hendricks County and neighboring Putnam County saw some of the steepest growth in home prices — increasing more than 8% — showing that growth is spreading outside the donut counties that immediately surround Indianapolis.
- Housing prices in the far reaches of southeast Shelby County were also booming.
By the numbers: Zionsville's 46077 ZIP code was the most expensive in the metro area with a typical home price of $573,000.
- While prices went up nearly everywhere, two downtown Indianapolis ZIP codes saw home prices fall — by 7.5% in 46204 and 1% in 46202.