Where Indiana Home Values Are Rising Fast: A Closer Look at the Top ZIP Codes in Early 2025

Repeat home sales in the first quarter of 2025 point to impressive appreciation in several Indiana neighborhoods. By tracking properties that sold at least twice, we found ZIP codes where home values are climbing fastest — and we took a closer look at the kinds of homes driving that growth.

Before we dive into neighborhood trends, first let's point out one important takeaway: There is no neighborhood above with price declines. Every ZIP Code has a median price appreciation rate of at least 3%.

South Bend (46613): +15.9% Median Annual Appreciation

South Bend’s 46613 ZIP tops the list. One standout example: a modest single-family home purchased in 2018 for $85,000 sold this February for over $175,000 — a doubling in value over seven years, with no flagged renovations. The neighborhood’s affordability and proximity to downtown continue to draw buyers.

Indianapolis (46218): +14.1% Median Annual Appreciation

In the heart of Indy, 46218 shows strong growth, especially among long-held properties. A 3-bedroom home bought for $42,000 in 2015 sold this winter for $119,000. Most of the top returns here came from homes held 7–10 years — underscoring the payoff for long-term owners in historically undervalued areas.

Lafayette (47904): +13.0% Median Annual Appreciation

East of downtown Lafayette, this ZIP saw steady turnover with solid returns. One property bought in 2019 for $109,000 sold for $186,000 in January, netting a double-digit annual gain. Many homes here fell in the middle quartiles — not the cheapest, but still accessible to first-time buyers.

Gas City (46933): +12.6% Median Annual Appreciation

Though smaller in volume, Gas City stood out with consistent price growth. A single-family home sold for $61,000 in 2016 was resold for $127,000 this March — over 12% annual appreciation with no sign of a flip or major rehab.

Michigan City (46360): +12.3% Median Annual Appreciation

Lakefront charm meets affordability. In 46360, repeat sales often involved homes held for less than 10 years and showed strong gains even without visible upgrades. One 2017 purchase for $155,000 resold for $295,000 this winter — a solid return in a region attracting both full-time residents and second-home buyers.

Takeaway:

The strongest price growth this year isn’t just in luxury areas — it’s often in neighborhoods with historically lower price points and longer ownership tenures. Whether you’re a buyer, seller, or investor, tracking appreciation by ZIP code reveals how local dynamics shape value in very real ways.

Want to see what your neighborhood looks like? Explore the map above.