We have been moving across the Midwest and investigating what are the most expensive ZIP codes in each state. Recently, we looked at the most expensive ZIP codes in Ohio, which revealed that the suburbs around Cincinnati dominate that list. We also analyzed the most expensive ZIP codes in Michigan, which showed just how wealthy and expensive some of those lake front areas can be.
Here, we’re going to turn to Indiana and its most expensive ZIP codes. Read on to find out the most expensive ZIP codes in Indiana in 2025, based on the latest data from Zillow’s home value index.
The Most Expensive ZIP Codes in Indiana
Relying on data from Zillow’s home value index, as well as the Census Bureau’s 2023 American Community Survey, we analyzed 698 ZIP codes that Zillow had data on in the state of Indiana. As part of our analysis, we took into consideration the latest monthly home values Zillow has — December 2024 — as well as the average of 12 months of median home values from January 2024 to December 2024.
Below are the 20 most expensive ZIP codes in Indiana.
The Top 5 Most Expensive ZIP Codes in Indiana
The No. 1 most expensive ZIP code in Indiana is 46301, which is centered on Beverly Shores and a nice stretch of Lake Michigan. This ZIP code is technically in the greater Chicago metro area, which covers northwestern Indiana. Several of the most expensive ZIP codes in Michigan and Ohio were on the Great Lakes, so it’s fitting that the No. 1 most expensive ZIP in Indiana is one of these. The median household income in ZIP code 46301 is $118,750, while the mean household income is $167,001. The median home value here is $624,446, as of December 2024, which is up by 43.5% from December 2019’s $435,264. And the pace of home value appreciation seems to be sustained, with an impressive 5.6% growth in home values from December 2023 to December 2024.
The No. 2 most expensive ZIP code — 46077 — is centered on Zionsville, a suburb north-by-northwest of Indianapolis. It includes communities like Eaglewood Estates, Eagle Village, Allens Acres, and stretches north to Rosston. This is a very wealthy suburb of Indianapolis, with nearly two-fifths (39.7%) of households making $200,000 or more per year. The average household income is $223,541, with a median of $160,868. The median home value here increased by almost $200,000 over the last five years. In December 2019, the median was $417,519, before rising by 46.4%, reaching $611,453 in December 2024.
The No. 3 most expensive ZIP code in Indiana — 46033 — is north-by-northeast of Indianapolis, covering parts of Carmel and Conner Prairie. This ZIP code is very nice and neat, with beautiful developments. More than a third of households in 46033 earn $200,000 or more a year. The median household income is $150,529, while the average household income is $190,871. Home values increased by 50.1%, from a median of $360,290 in December 2019 to $540,927 in December 2024.
The Bottom Line
Indiana displays similar traits to the other Midwestern states we looked at recently, Ohio and Michigan. They share the fact that ZIP codes along the Great Lakes tend to rank among the most expensive, as do suburbs of major urban centers. But there’s also the theme of rural areas, once considered to far, perhaps, from the office, are now being encroached upon by wealthy homeowners and expensive houses. A good example of this is 46788, which centers of Spencerville, a predominately rural town outside of Fort Wayne. Its median home value rose by an impressive 55.2%. Today, it’s still predominately rural, but the lower-left corner of the ZIP code has some massive homes, and they’re inching their way deeper into the rural parts more and more.
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