I’ve been diving deep into the Zillow Home Value Index data, and what I’ve discovered about Indiana’s property market is truly eye-opening. While often overlooked in national housing conversations, Indiana shows remarkable price appreciation patterns, particularly in waterfront communities and suburbs of Indianapolis.
What stands out most is how certain Indiana towns have outperformed expectations since 2010, with appreciation rates exceeding 100% over 15 years. The data reveals a clear pattern: towns with access to water (like Clear Lake and Long Beach) or proximity to economic centers (like Carmel and Zionsville) commanded the highest premiums in 2025.
After analyzing price trajectories since 2010, I’m particularly struck by how the post-pandemic market accelerated appreciation in nearly all of Indiana’s top-tier markets, with many towns seeing 40-50% gains in just five years (2020-2025). This suggests strong underlying fundamentals rather than speculative bubbles.
18. Shipshewana
Historic prices and percent change over time:
- 2025 Home Value: $381,501
- 2020 Home Value: $258,917
- 2015 Home Value: $189,190
- 2010 Home Value: $165,673
- % Change 2020 to 2025: 47.34%
- % Change 2015 to 2025: 101.65%
- % Change 2010 to 2025: 130.27%
About Shipshewana
In Shipshewana, the median home price of $381,501 represents significant financial growth, making it an increasingly attractive investment opportunity. The town has more than doubled in value since 2015, with a remarkable 130.27% appreciation since 2010. This consistent upward trajectory suggests strong market fundamentals driving demand despite its relatively small size. Investment capital continues to flow into this market as buyers recognize its long-term appreciation potential.
17. Topeka
Historic prices and percent change over time:
- 2025 Home Value: $383,518
- 2020 Home Value: $281,832
- 2015 Home Value: $205,101
- 2010 Home Value: $175,069
- % Change 2020 to 2025: 36.08%
- % Change 2015 to 2025: 86.99%
- % Change 2010 to 2025: 119.07%
About Topeka
In Topeka, the median home price of $383,518 demonstrates solid financial performance with 36.08% growth in just five years. The market has shown impressive resilience, nearly doubling in value since 2015, and delivering 119.07% returns since 2010. Real estate in this community has proven to be a reliable store of value, consistently outpacing inflation while maintaining steady appreciation rates. The financial metrics suggest continued growth potential for property investors.
16. Floyds Knobs
Historic prices and percent change over time:
- 2025 Home Value: $386,681
- 2020 Home Value: $285,924
- 2015 Home Value: $221,885
- 2010 Home Value: $205,430
- % Change 2020 to 2025: 35.24%
- % Change 2015 to 2025: 74.27%
- % Change 2010 to 2025: 88.23%
About Floyds Knobs
In Floyds Knobs, the median home price of $386,681 reflects strong market positioning with appreciable financial gains. With a 35.24% increase since 2020 and 88.23% growth since 2010, this market demonstrates consistent capital appreciation patterns. Property values have shown remarkable stability during economic fluctuations, suggesting the area maintains strong fundamentals. Investors have benefited from steady appreciation rates that outpace many comparable markets in the region.
15. Millersburg
Historic prices and percent change over time:
- 2025 Home Value: $387,329
- 2020 Home Value: $268,093
- 2015 Home Value: $194,598
- 2010 Home Value: $155,502
- % Change 2020 to 2025: 44.48%
- % Change 2015 to 2025: 99.04%
- % Change 2010 to 2025: 149.08%
About Millersburg
In Millersburg, the median home price of $387,329 showcases exceptional financial performance with a remarkable 149.08% appreciation since 2010. The market has nearly doubled in value since 2015, demonstrating accelerated growth momentum. Property values have increased 44.48% in just five years since 2020, indicating strong demand fundamentals. This impressive appreciation rate positions Millersburg among Indiana’s most financially rewarding real estate markets for long-term investors.
14. Granger
Historic prices and percent change over time:
- 2025 Home Value: $393,405
- 2020 Home Value: $272,221
- 2015 Home Value: $212,393
- 2010 Home Value: $202,117
- % Change 2020 to 2025: 44.52%
- % Change 2015 to 2025: 85.22%
- % Change 2010 to 2025: 94.64%
About Granger
In Granger, the median home price of $393,405 reflects substantial financial value creation with 44.52% growth in the past five years. The market has demonstrated remarkable stability, nearly doubling in value since 2010 with 94.64% appreciation. Investment capital has consistently flowed into this market, supported by strong economic fundamentals. Property values show accelerated growth momentum post-2020, suggesting continued strong demand from buyers and investors alike.
13. Shadeland
Historic prices and percent change over time:
- 2025 Home Value: $397,561
- 2020 Home Value: $262,607
- 2015 Home Value: $203,242
- 2010 Home Value: $187,095
- % Change 2020 to 2025: 51.39%
- % Change 2015 to 2025: 95.61%
- % Change 2010 to 2025: 112.49%
About Shadeland
In Shadeland, the median home price of $397,561 represents exceptional financial performance with a dramatic 51.39% increase since 2020. Property values have more than doubled since 2010, delivering 112.49% returns to long-term investors. The market shows accelerating appreciation rates in recent years, indicating strengthening demand fundamentals. This consistent upward trajectory makes Shadeland an increasingly attractive option for investors seeking substantial capital appreciation in Indiana real estate.
12. Guilford
Historic prices and percent change over time:
- 2025 Home Value: $403,729
- 2020 Home Value: $263,751
- 2015 Home Value: $195,966
- 2010 Home Value: $nan
- % Change 2020 to 2025: 53.07%
- % Change 2015 to 2025: 106.02%
- % Change 2010 to 2025: nan%
About Guilford
In Guilford, the median home price of $403,729 demonstrates remarkable financial growth with a 53.07% increase in just five years. The market has more than doubled since 2015, showing 106.02% appreciation and establishing itself as a premium investment destination. While historical data from 2010 is unavailable, recent performance indicates exceptionally strong market fundamentals. Property values continue to accelerate, suggesting ongoing demand from investors seeking substantial capital appreciation opportunities.
11. Bargersville
Historic prices and percent change over time:
- 2025 Home Value: $427,332
- 2020 Home Value: $289,771
- 2015 Home Value: $215,912
- 2010 Home Value: $194,552
- % Change 2020 to 2025: 47.47%
- % Change 2015 to 2025: 97.92%
- % Change 2010 to 2025: 119.65%
About Bargersville
In Bargersville, the median home price of $427,332 reflects outstanding financial performance with a 47.47% increase since 2020. Property values have nearly doubled since 2015 and increased by 119.65% since 2010, demonstrating consistent long-term appreciation. This market has maintained impressive growth momentum across economic cycles, suggesting strong underlying demand fundamentals. Investors continue to benefit from Bargersville’s exceptional capital appreciation and value retention capabilities.
10. Fishers
Historic prices and percent change over time:
- 2025 Home Value: $431,033
- 2020 Home Value: $292,429
- 2015 Home Value: $236,918
- 2010 Home Value: $210,068
- % Change 2020 to 2025: 47.40%
- % Change 2015 to 2025: 81.93%
- % Change 2010 to 2025: 105.19%
About Fishers
In Fishers, the median home price of $431,033 represents exceptional financial growth with values more than doubling since 2010. With 47.40% appreciation in just five years, this market demonstrates accelerating momentum and strong investor demand. The 81.93% value increase since 2015 places Fishers among Indiana’s top-performing real estate markets. These impressive financial metrics reflect robust market fundamentals that continue to attract investment capital seeking reliable appreciation potential.
9. Saint John
Historic prices and percent change over time:
- 2025 Home Value: $440,181
- 2020 Home Value: $338,005
- 2015 Home Value: $277,683
- 2010 Home Value: $249,674
- % Change 2020 to 2025: 30.23%
- % Change 2015 to 2025: 58.52%
- % Change 2010 to 2025: 76.30%
About Saint John
In Saint John, the median home price of $440,181 shows solid financial performance with 30.23% growth since 2020. While appreciation rates are more moderate than some Indiana markets, the 76.30% increase since 2010 demonstrates reliable long-term value creation. The market maintains steady growth fundamentals, providing investors with consistent returns and capital preservation. This stability combined with appreciable growth makes Saint John an attractive option for risk-averse property investors.
8. Westfield
Historic prices and percent change over time:
- 2025 Home Value: $456,221
- 2020 Home Value: $313,152
- 2015 Home Value: $249,098
- 2010 Home Value: $219,824
- % Change 2020 to 2025: 45.69%
- % Change 2015 to 2025: 83.15%
- % Change 2010 to 2025: 107.54%
About Westfield
In Westfield, the median home price of $456,221 demonstrates exceptional financial growth, more than doubling in value since 2010. With a 45.69% increase in just five years, the market shows accelerating appreciation rates and strong investment appeal. Property values have increased 83.15% since 2015, indicating robust demand fundamentals driving prices. These impressive financial metrics position Westfield among Indiana’s most lucrative real estate investment markets with sustained appreciation potential.
7. Ogden Dunes
Historic prices and percent change over time:
- 2025 Home Value: $470,619
- 2020 Home Value: $340,481
- 2015 Home Value: $266,229
- 2010 Home Value: $293,921
- % Change 2020 to 2025: 38.22%
- % Change 2015 to 2025: 76.77%
- % Change 2010 to 2025: 60.12%
About Ogden Dunes
In Ogden Dunes, the median home price of $470,619 reflects significant financial appreciation with a 38.22% increase since 2020. Unlike most markets, Ogden Dunes experienced a dip between 2010-2015 before showing robust recovery with 76.77% growth since 2015. The overall 60.12% appreciation since 2010 demonstrates strong resilience and recovery capacity. Investment returns have accelerated in recent years, suggesting improving market fundamentals and renewed buyer confidence.
6. Carmel
Historic prices and percent change over time:
- 2025 Home Value: $538,632
- 2020 Home Value: $360,829
- 2015 Home Value: $303,400
- 2010 Home Value: $266,398
- % Change 2020 to 2025: 49.28%
- % Change 2015 to 2025: 77.53%
- % Change 2010 to 2025: 102.19%
About Carmel
In Carmel, the median home price of $538,632 represents premium financial value with properties doubling since 2010. The market shows exceptional growth momentum with a 49.28% increase in just five years since 2020. This accelerated appreciation rate places Carmel among Indiana’s elite investment markets with consistent capital gains. The market fundamentals remain strong with 77.53% growth since 2015, attracting sophisticated investors seeking substantial returns in Indiana’s luxury real estate segment.
5. Michiana Shores
Historic prices and percent change over time:
- 2025 Home Value: $580,963
- 2020 Home Value: $369,349
- 2015 Home Value: $310,719
- 2010 Home Value: $287,558
- % Change 2020 to 2025: 57.29%
- % Change 2015 to 2025: 86.97%
- % Change 2010 to 2025: 102.03%
About Michiana Shores
In Michiana Shores, the median home price of $580,963 demonstrates exceptional financial performance with values doubling since 2010. The market shows accelerating appreciation with a remarkable 57.29% increase in just five years since 2020. This waterfront community continues to attract premium investment capital, driving the 86.97% appreciation since 2015. These impressive financial metrics reflect Michiana Shores’ position as one of Indiana’s most desirable luxury real estate markets with outstanding capital growth potential.
4. Zionsville
Historic prices and percent change over time:
- 2025 Home Value: $617,667
- 2020 Home Value: $423,571
- 2015 Home Value: $347,199
- 2010 Home Value: $305,834
- % Change 2020 to 2025: 45.82%
- % Change 2015 to 2025: 77.90%
- % Change 2010 to 2025: 101.96%
About Zionsville
In Zionsville, the median home price of $617,667 exemplifies premium financial performance in Indiana’s luxury market segment. Property values have precisely doubled since 2010, demonstrating remarkable consistency in appreciation. With a 45.82% increase since 2020, the market maintains strong growth momentum driven by high-income buyers. Investment capital continues flowing into this market, attracted by the 77.90% appreciation since 2015 and Zionsville’s reputation for value retention during economic downturns.
3. Long Beach
Historic prices and percent change over time:
- 2025 Home Value: $719,516
- 2020 Home Value: $451,648
- 2015 Home Value: $362,565
- 2010 Home Value: $369,453
- % Change 2020 to 2025: 59.31%
- % Change 2015 to 2025: 98.45%
- % Change 2010 to 2025: 94.75%
About Long Beach
In Long Beach, the median home price of $719,516 represents exceptional financial performance with a dramatic 59.31% surge since 2020. Unique among high-value Indiana markets, Long Beach experienced a slight decline between 2010-2015 before showing remarkable recovery with 98.45% growth since 2015. The overall 94.75% appreciation since 2010 demonstrates extraordinary resilience and investment potential. This premium waterfront market continues attracting substantial capital, reflecting confidence in its long-term value proposition.
2. Clear Lake
Historic prices and percent change over time:
- 2025 Home Value: $756,744
- 2020 Home Value: $526,420
- 2015 Home Value: $410,941
- 2010 Home Value: $371,303
- % Change 2020 to 2025: 43.75%
- % Change 2015 to 2025: 84.15%
- % Change 2010 to 2025: 103.81%
About Clear Lake
In Clear Lake, the median home price of $756,744 demonstrates premium financial performance with properties more than doubling since 2010. This luxury waterfront market maintains consistent appreciation with 43.75% growth since 2020 and 84.15% since 2015. The exceptional 103.81% return since 2010 positions Clear Lake among Indiana’s elite investment destinations. Property values show remarkable stability across economic cycles while delivering substantial capital appreciation, making this market particularly attractive to high-net-worth investors.
1. Dune Acres
Historic prices and percent change over time:
- 2025 Home Value: $859,567
- 2020 Home Value: $591,732
- 2015 Home Value: $nan
- 2010 Home Value: $nan
- % Change 2020 to 2025: 45.26%
- % Change 2015 to 2025: nan%
- % Change 2010 to 2025: nan%
About Dune Acres
In Dune Acres, the median home price of $859,567 represents Indiana’s absolute premium real estate market with exceptional financial performance. Despite limited historical data, the extraordinary 45.26% appreciation since 2020 demonstrates remarkable investment potential. This exclusive waterfront community commands the highest property values in the state, attracting significant investment capital. While longer historical comparisons aren’t available, recent appreciation trends suggest Dune Acres offers substantial wealth creation opportunities for luxury real estate investors.
