Hendricks County, Indiana Housing Market
In Hendricks County, Indiana, the median home value is $307,600, with a median monthly rent of $1,436. This places Hendricks County at #586 nationally out of 3134 counties by median home value, and #3 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,042
- Establishments: 4,380
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,583
- Multi-family: 71
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 75,567 (avg $93,423)
- Outflow: 71,348 (avg $94,974)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Hendricks County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 46231 | 228.0 | +6.55% | 2025 |
| 2 | 46121 | 266.6 | -2.24% | 2025 |
| 3 | 46165 | 249.9 | -3.74% | 2025 |
| 4 | 46234 | 212.1 | +6.46% | 2025 |
| 5 | 46167 | 245.8 | +0.97% | 2025 |
| 6 | 46149 | 256.2 | +12.59% | 2025 |
| 7 | 46158 | 225.3 | +5.75% | 2025 |
| 8 | 46278 | 204.1 | +6.85% | 2025 |
| 9 | 46122 | 234.7 | +2.69% | 2025 |
| 10 | 46118 | 235.6 | -2.06% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Hendricks County Compares
| Metric | Hendricks County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $307,600 | $191,898 | $227,706 |
| Median Gross Rent | $1,436 | $910 | $968 |
| Owner Occupancy Rate | 78.2% | 76.3% | 73.3% |
| Price/Rent Ratio | 17.9 | 17.5 | 18.7 |
Market Analysis
The median home value in Hendricks County is 60.3% above the Indiana state average and 35.1% above the U.S. national average. The median rent of $1,436/month is 57.8% above the state average.
With a price-to-rent ratio of 17.9, the buy-vs-rent decision in Hendricks County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Hendricks County has an owner-occupancy rate of 78.2%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Northeastern Connecticut Planning Region | Connecticut | $307,600 | $1,155 |
| Caroline County | Virginia | $307,700 | $1,293 |
| Union County | Georgia | $307,400 | $808 |
| Lumpkin County | Georgia | $307,900 | $1,142 |
| McHenry County | Illinois | $308,100 | $1,401 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Monroe County | $285,200 | $1,193 | 54.0% |
| Johnson County | $284,600 | $1,271 | 72.7% |
| Porter County | $281,500 | $1,219 | 77.7% |
| Hancock County | $274,800 | $1,203 | 79.5% |
| Brown County | $269,100 | $895 | 86.6% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).