ZIP 46240 - 860Z200US46240 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 46240, located in the Indianapolis area, this demographic and housing snapshot offers a clear picture of the community in 2023. With a population of nearly 20,000 and a mix of housing options, this area presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s dive into the data to help you understand what makes this ZIP code stand out and how it can align with your goals.

Population & Households

ZIP 46240 is home to 19,632 residents, making it a moderately sized community with a suburban feel. These individuals are distributed across 10,079 households, reflecting a diverse mix of family structures and living arrangements. With 11,673 total housing units in the area, there’s a notable supply of homes, though not all are occupied, suggesting potential availability for new residents or investors looking to enter the market.

For those evaluating community size and density, this ZIP code offers a balance—not too crowded, yet active enough to support local businesses and amenities. This population base can be a strong foundation for small businesses seeking a stable customer pool or for families looking for a connected yet manageable neighborhood.

Income & Housing Costs

The median household income in ZIP 46240 stands at $70,728, indicating a solid economic foundation for many residents. This income level suggests that the area supports a middle-to-upper-middle-class lifestyle, which can be attractive for businesses targeting this demographic or for homebuyers seeking financial stability among neighbors.

On the housing front, the median house value is $328,600, reflecting a competitive yet accessible real estate market for the region. For renters, the median rent is $1,255 per month, which aligns with the income levels and offers a viable option for those not ready to buy. These figures provide a benchmark for investors assessing potential returns and for buyers gauging affordability in this ZIP code.

Race & Ethnicity

The demographic makeup of ZIP 46240 is predominantly White, accounting for 73.74% of the population. Black residents make up 10.47%, while Asian individuals represent 3.51%. Additionally, 5.66% of the population identifies as Hispanic. This composition points to a primarily White community with moderate diversity, which may influence cultural offerings, community events, and business opportunities.

For businesses and investors, understanding this breakdown can help tailor services or marketing strategies to the majority demographic while also considering the needs of smaller but significant minority groups. Homebuyers may find this mix indicative of a stable, established area with room for cultural growth.

Key Facts

• Total population: 19,632 residents in 2023.
• Total households: 10,079, supporting a variety of family and individual living arrangements.
• Total housing units: 11,673, with some unoccupied units potentially available for purchase or rent.
• Median household income: $70,728, reflecting a comfortable economic status for many.
• Median house value: $328,600, positioning this area as a competitive housing market.
• Median rent: $1,255, offering a reasonable alternative for non-buyers.
• Racial composition: 73.74% White, 10.47% Black, 3.51% Asian, and 5.66% Hispanic.

What This Means for You

For homebuyers, ZIP 46240 offers a promising mix of affordability and value with a median home price of $328,600. The income levels suggest neighbors with financial stability, and the population size ensures a community feel without overwhelming density. This could be an ideal spot for families or individuals seeking a suburban lifestyle near Indianapolis.

For investors and real estate agents, the presence of over 11,000 housing units, including some unoccupied ones, signals potential for rental properties or flips. The median rent of $1,255 supports a viable rental market, while the home values indicate room for appreciation in a stable area.

For small-business owners, a population of nearly 20,000 with a median income of over $70,000 provides a solid customer base. The demographic diversity, though moderate, allows for targeted offerings, whether catering to the majority or niche markets within the community.

For analysts, these metrics offer a clear baseline for deeper studies into housing trends, economic growth, or demographic shifts in ZIP 46240, helping to inform broader regional strategies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 46240? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your specific needs.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business venture in any area.