The story of this market
The typical home in ZIP 46051 sells for about $258,889, or $170 per square foot.
Prices are up +14.39% from a year ago, so sellers still have some momentum. Homes take about 52 days to sell. HUD's fair market rent for a two-bedroom is $1,000 a month.
ZIP 46051 — Lapel
The 46051 housing market shows strong price appreciation with a 14.39% year-over-year increase in median listing prices. Demand remains steady for single-family homes, though closed sales data for the most recent month is not explicitly published. The market is currently characterized as a seller's market due to limited inventory.
This ZIP code is well-suited for families and commuters seeking a quiet, small-town environment with relatively affordable housing compared to the Indianapolis urban core.
Median prices moved up 14.4% year over year.
Homes spend a median of 52 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 98.3% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · poverty 5.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
ZCTA 46051, Madison County IN
The area is served by the Frankton-Lapel Community Schools, which generally maintain a positive reputation within the local Madison County region.
The area is experiencing steady residential interest as a suburban extension of the Anderson and Indianapolis metro markets, with local development focused on single-family housing.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
Residents primarily commute via State Road 13 and State Road 32, providing access to Anderson and the broader Indianapolis metropolitan employment core.
The area features local community parks and proximity to rural outdoor spaces, with larger shopping and dining amenities located in nearby Anderson.
The rental market is characterized by limited inventory and steady demand, with a significant portion of the housing stock being owner-occupied.
The local economy is supported by a mix of manufacturing, retail, and finance/real estate sectors, with many residents commuting to larger regional employment hubs.
Transportation is primarily automobile-dependent, relying on state highway corridors for regional connectivity.
Development is primarily focused on infill residential projects and small-scale housing expansions.
The Madison County Assessor manages property valuations for the jurisdiction.
Parcels are subject to Frankton-Lapel Community School Corporation levies and standard county-level special districts.
Data retrieved from Census Bureau ZCTA profiles and local town estimates.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
Local recreational space serving the town residents.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.