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Sarah Mitchell
Compass Real Estate · ZIP 46038
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46038 ZIP Code Housing Market
$365,000median sale price
What is the 46038 housing market like right now?
The median home sale price in ZIP code 46038 is $365,000, up 5.8% year-over-year. Homes sell in an average of 12 days with 56 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 46038 ZIP code a buyer's or seller's market?
ZIP code 46038 is currently a balanced market and homes selling in about 12 days. How we determine this →
What are the latest 46038 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $365,000 |
| Median list price | $369,975 |
| Year-over-year price change | +5.8% |
| Average days on market | 12 days |
| Active inventory | 56 listings |
| Sale-to-list price ratio | 99.6% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 46038 zip code, located in Fishers, IN, is currently classified as a balanced market. The median sale price stands at $365,000, representing a +5.8% change year over year. Homes in this area spend an average of 12 days on the market before going under contract. There are currently 56 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 46038 sits in the Fishers, IN area, roughly 2.6 miles from downtown Fishers. Because home prices are set street by street, this ZIP can move differently from Fishers's citywide averages. The figures below reflect 46038 specifically — drawn from Redfin transactions, U.S. Census data for its 43,754 residents, and Zillow value estimates.
Homes sold
161
Last 12 weeks
Days on market
12
Fast-moving
Active listings
56
Sale-to-list
99.6%
Below asking
What is driving the 46038 housing market?
The 46038 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 99.6% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 46038 have increased +5.8% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 46038 stands at $386,324, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,748 per month. This gives a price-to-rent ratio of approximately 18.4, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 46038?
Population
43,754
Median income
$106,886/yr
Median age
36.3 years
Owner-occupied
70.1%
College grads
61.5%
Avg commute
25.83 min
What is it like living in 46038?
Zip code 46038 is home to approximately 43,754 residents. The median household income is $106,886 per year, which shapes the types of homes and amenities available in the area. With a median age of 36.3 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 70.1% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 61.5% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 25.83 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 46038.
Which public schools serve ZIP 46038?
11 schools tracked · 10,285 students
The largest public schools serving ZIP code 46038 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Fishers High School
Grades 9-12 · 3,664 students
Riverside Intermediate School
Grades 5-6 · 865 students
Riverside Junior High
Grades 7-8 · 844 students
Fishers Junior High School
Grades 7-8 · 822 students
Sand Creek Intermediate School
Grades 5-6 · 815 students
New Britton Elementary School
Grades PK-4 · 601 students
Thorpe Creek Elementary
Grades PK-4 · 595 students
Harrison Parkway Elementary School
Grades PK-4 · 581 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 46038
What is the median home price in 46038?
The current median sale price in 46038 is $365,000, based on recent Redfin transaction data. Prices have changed +5.8% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 46038 a buyer's or seller's market?
The 46038 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 46038?
Zip code 46038 has a population of approximately 43,754 residents. The median household income is $106,886 per year. About 70.1% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 46038?
Properties Incorporated provides comprehensive data for 46038 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 46038 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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