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Carmel, Indiana

Realtor Aug 2026 · ACS 2024

Market Read

A tight-supply market with no rental pool to price against. Demand is visible here; the rent math is not.

Demand outpaces supply. Hotness 79/100, supply score 67, homes go under contract 12.3% faster than the US median, at 141% of US prices. See the sale evidence ↓
Tenant economics are strong. Median household income $141K, +4.6% YoY (ZIP); renters hold 24.7% of ZIP households. See the people evidence ↓

What would change this read: the median listing price is −3.3% YoY. inventory, +1.0% YoY, is the number to watch.

Gross Rental Yield

–

1% rule implies 12%/yr

Rent-to-Price

–

1% rule benchmark: 1.00%/mo

Gross Rent Multiplier

–

Price ÷ annual gross rent

Asking vs Voucher

–

No bedroom size has both a rent sample and a published FMR

Computed from this page's data: median listing $604,282 (Realtor). The listing and rental pools are separate samples, not the same homes priced two ways, so the ratios describe the market rather than any one property. Ratios with reasons, not a recommendation to buy.

3 ZIPs in this city:46032 46033 46082

Market Hotness

79 / 100Realtor.com competitiveness composite

national · lower = hotter

0–100 · supply + demand

higher = tighter supply

higher = stronger demand

−12.3%

homes sell faster here

141%

of national median · above avg

Median Listing Price

$604K

Population

92,396

35,069

Median Days on Market

Active Listings

181

New Listings

120

Housing Market

The median listing price is down 3.3% YoY while the median home got down 14.8% bigger, so value per square foot is up 6.7%.

Pricing

Median Listing Price

$604K-3.3% YoY

Average Listing Price

$885K+11.0% YoY

Price per Sq Ft

$222.254+6.7% YoY

Median Sq Ft

2,490-14.8% YoY

Inventory

Active Listings

181+9.0% YoY

New Listings

120-9.1% YoY

Total Listings

298+1.0% YoY

Buyer Competition

Pending Listings

113-7.4% YoY

Pending Ratio

0.62-15.1% YoY

Median Days on Market

49+9.8% YoY

Price Reduced

23.8%+3.8% YoY

Units & Occupancy

2024 Occupancy ⓘ

U.S. Census ACS · n = 144,746

145Kunits

Occupied137,25294.8%

Vacant7,4945.2%

2024 Tenure ⓘ

U.S. Census ACS · n = 137,252

137Koccupied

Owner104,41676.1%

Renter32,83623.9%

Renter Share

23.9%+0.9% YoY

Total Housing Units

144,746+3.1% YoY

FY2026 Fair Market Rent

CountyHamilton County · HUD 40th-percentile estimate, not actual market asking rent

Studio

$1,118

/month

1 BR

$1,267

/month

2 BR

$1,473

/month

3 BR

$1,907

/month

4 BR

$2,338

/month

FMR trends · Hamilton County

HUD Fair Market Rents · FY1983–FY2026

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Renters hold 24.7% of this ZIP's 35,069 occupied households, on a median household income of $141K.

Population & Age

Total Population

92,396+1.2% YoY

2024 Age Mix ⓘ

U.S. Census ACS · n = 92,396

92Kresidents

Under 1823,13325.0%

Adults 18–6455,08959.6%

65 & Over14,17415.3%

Age Composition Over Time

U.S. Census ACS · 2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

40.70+0.2% YoY

Population Under 18

23,133-1.5% YoY

Population 65 & Over

14,174+2.3% YoY

Households & Mobility

Total Households

35,069+0.8% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.62+0.3% YoY

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house88.5%

Moved (within US)10.7%

Other0.9%

Veterans

4.0%-7.6% YoY

Income & Poverty

Median Household Income

$141K+4.6% YoY

Per-Capita Income

$75K+2.7% YoY

Mean Household Income

$196K+2.9% YoY

Below Poverty Level

3.6%+2.4% YoY

Commuting

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone67.2%

Public transit0.0%

Worked from home26.2%

Other6.6%

Worked From Home

26.2%+8.8% YoY

Mean Commute

24.15-2.1% YoY

Units & Tenure

Total Housing Units

37,226+1.0% YoY

2024 Occupancy ⓘ

U.S. Census ACS · n = 37,226

37Kunits

Occupied35,06994.2%

Vacant2,1575.8%

2024 Tenure ⓘ

U.S. Census ACS · n = 35,069

35Khouseholds

Owner26,41675.3%

Renter8,65324.7%

Avg Household Size — Owner

2.83-0.5% YoY

Avg Household Size — Renter

1.98+3.5% YoY

County Demographics

County population is up 2.2% to 365,056: residents under 18 are up 0.3% and those 65 and over are up 5.6%.

Median Age

38.42024

Population

Hamilton County Population

379,704+1.9% YoY

Households

Total Households

137,252+3.1% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.64-1.1% YoY

Age

2024 Age Mix ⓘ

U.S. Census ACS · n = 365,056

365Kresidents

Under 1892,73625.4%

Adults 18–64221,64760.7%

65 & Over50,67313.9%

Age Composition Over Time

U.S. Census ACS · 2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

92,736+0.3% YoY

Population 65 & Over

50,673+5.6% YoY

Median Age

38.40+1.1% YoY

Mobility & Veterans

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house88.8%

Moved (within US)10.6%

Other0.6%

Veterans

4.8%-2.0% YoY

County Economy

County median household income is $122K, 4.4% of residents are below the poverty level, 23.3% work from home.

Income

Median Household Income

$122K+3.0% YoY

Per-Capita Income

$60K+2.3% YoY

Mean Household Income

$159K+1.5% YoY

Poverty

Below Poverty Level

4.4%+2.3% YoY

Transportation to Work

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone68.9%

Public transit0.0%

Worked from home23.3%

Other7.8%

Worked From Home

23.3%+12.6% YoY

Mean Commute

25.90+0.4% YoY

Done with Carmel? Put it next to another market.

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Carmel, Indiana

Realtor Aug 2026 · ACS 2024

Market Read

A tight-supply market with no rental pool to price against. Demand is visible here; the rent math is not.

Demand outpaces supply. Hotness 79/100, supply score 67, homes go under contract 12.3% faster than the US median, at 141% of US prices. See the sale evidence ↓
Tenant economics are strong. Median household income $141K, +4.6% YoY (ZIP); renters hold 24.7% of ZIP households. See the people evidence ↓

What would change this read: the median listing price is −3.3% YoY. inventory, +1.0% YoY, is the number to watch.

Gross Rental Yield

–

1% rule implies 12%/yr

Rent-to-Price

–

1% rule benchmark: 1.00%/mo

Gross Rent Multiplier

–

Price ÷ annual gross rent

Asking vs Voucher

–

No bedroom size has both a rent sample and a published FMR

3 ZIPs in this city:46032 46033 46082

Market Hotness

79 / 100Realtor.com competitiveness composite

national · lower = hotter

0–100 · supply + demand

higher = tighter supply

higher = stronger demand

−12.3%

homes sell faster here

141%

of national median · above avg

Median Listing Price

$604K

Population

92,396

35,069

Median Days on Market

Active Listings

181

New Listings

120

Housing Market

The median listing price is down 3.3% YoY while the median home got down 14.8% bigger, so value per square foot is up 6.7%.

Pricing

Median Listing Price

$604K-3.3% YoY

Average Listing Price

$885K+11.0% YoY

Price per Sq Ft

$222.254+6.7% YoY

Median Sq Ft

2,490-14.8% YoY

Inventory

Active Listings

181+9.0% YoY

New Listings

120-9.1% YoY

Total Listings

298+1.0% YoY

Buyer Competition

Pending Listings

113-7.4% YoY

Pending Ratio

0.62-15.1% YoY

Median Days on Market

49+9.8% YoY

Price Reduced

23.8%+3.8% YoY

Units & Occupancy

2024 Occupancy ⓘ

U.S. Census ACS · n = 144,746

145Kunits

Occupied137,25294.8%

Vacant7,4945.2%

2024 Tenure ⓘ

U.S. Census ACS · n = 137,252

137Koccupied

Owner104,41676.1%

Renter32,83623.9%

Renter Share

23.9%+0.9% YoY

Total Housing Units

144,746+3.1% YoY

FY2026 Fair Market Rent

CountyHamilton County · HUD 40th-percentile estimate, not actual market asking rent

Studio

$1,118

/month

1 BR

$1,267

/month

2 BR

$1,473

/month

3 BR

$1,907

/month

4 BR

$2,338

/month

FMR trends · Hamilton County

HUD Fair Market Rents · FY1983–FY2026

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Renters hold 24.7% of this ZIP's 35,069 occupied households, on a median household income of $141K.

Population & Age

Total Population

92,396+1.2% YoY

2024 Age Mix ⓘ

U.S. Census ACS · n = 92,396

92Kresidents

Under 1823,13325.0%

Adults 18–6455,08959.6%

65 & Over14,17415.3%

Age Composition Over Time

U.S. Census ACS · 2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

40.70+0.2% YoY

Population Under 18

23,133-1.5% YoY

Population 65 & Over

14,174+2.3% YoY

Households & Mobility

Total Households

35,069+0.8% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.62+0.3% YoY

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house88.5%

Moved (within US)10.7%

Other0.9%

Veterans

4.0%-7.6% YoY

Income & Poverty

Median Household Income

$141K+4.6% YoY

Per-Capita Income

$75K+2.7% YoY

Mean Household Income

$196K+2.9% YoY

Below Poverty Level

3.6%+2.4% YoY

Commuting

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone67.2%

Public transit0.0%

Worked from home26.2%

Other6.6%

Worked From Home

26.2%+8.8% YoY

Mean Commute

24.15-2.1% YoY

Units & Tenure

Total Housing Units

37,226+1.0% YoY

2024 Occupancy ⓘ

U.S. Census ACS · n = 37,226

37Kunits

Occupied35,06994.2%

Vacant2,1575.8%

2024 Tenure ⓘ

U.S. Census ACS · n = 35,069

35Khouseholds

Owner26,41675.3%

Renter8,65324.7%

Avg Household Size — Owner

2.83-0.5% YoY

Avg Household Size — Renter

1.98+3.5% YoY

County Demographics

County population is up 2.2% to 365,056: residents under 18 are up 0.3% and those 65 and over are up 5.6%.

Median Age

38.42024

Population

Hamilton County Population

379,704+1.9% YoY

Households

Total Households

137,252+3.1% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.64-1.1% YoY

Age

2024 Age Mix ⓘ

U.S. Census ACS · n = 365,056

365Kresidents

Under 1892,73625.4%

Adults 18–64221,64760.7%

65 & Over50,67313.9%

Age Composition Over Time

U.S. Census ACS · 2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

92,736+0.3% YoY

Population 65 & Over

50,673+5.6% YoY

Median Age

38.40+1.1% YoY

Mobility & Veterans

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house88.8%

Moved (within US)10.6%

Other0.6%

Veterans

4.8%-2.0% YoY

County Economy

County median household income is $122K, 4.4% of residents are below the poverty level, 23.3% work from home.

Income

Median Household Income

$122K+3.0% YoY

Per-Capita Income

$60K+2.3% YoY

Mean Household Income

$159K+1.5% YoY

Poverty

Below Poverty Level

4.4%+2.3% YoY

Transportation to Work

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone68.9%

Public transit0.0%

Worked from home23.3%

Other7.8%

Worked From Home

23.3%+12.6% YoY

Mean Commute

25.90+0.4% YoY

Done with Carmel? Put it next to another market.