Indianapolis, IN vs Phoenix, AZ: Housing Market Comparison (2026)
Side-by-side Alpha Scores, affordability, momentum, supply, jobs, and rental yield · as of July 2026
Indianapolis, IN vs Phoenix, AZ side by side
| Metric | ● Indianapolis, IN | ● Phoenix, AZ |
|---|---|---|
| Alpha Score | 55 | 32 |
| Price Momentum | 44 | 41 |
| Inventory Health | 37 | 34 |
| Affordability | 54 | 21 |
| Economic Strength | 94 | 23 |
| Rental Yield | 53 | 46 |
| Median Sale Price | $325K | $469K |
| Price-to-Income | 4.2 | 5.5 |
| Payment-to-Income | 25.1% | 32.9% |
| Months of Supply | 2 | 4 |
| Gross Rental Yield | 4.2% | 4.0% |
| Overvaluation Index | 70 | 80 |
Highlighted = the stronger read for that metric (supply, valuation, and payment burden are better when lower). Income/rent inputs lag annually.
How Indianapolis, IN and Phoenix, AZ compare, dimension by dimension
- Affordability: Indianapolis, IN leads — Indianapolis, IN 54/100 vs Phoenix, AZ 21/100.
- Price Momentum: Indianapolis, IN leads — Indianapolis, IN 44/100 vs Phoenix, AZ 41/100.
- Inventory Health: Indianapolis, IN leads — Indianapolis, IN 37/100 vs Phoenix, AZ 34/100.
- Economic Strength: Indianapolis, IN leads — Indianapolis, IN 94/100 vs Phoenix, AZ 23/100.
- Rental Yield: Indianapolis, IN leads — Indianapolis, IN 53/100 vs Phoenix, AZ 46/100.
Frequently asked questions
Which has a higher Alpha Score, Indianapolis, IN or Phoenix, AZ?
Indianapolis, IN scores higher — 55 vs 32 out of 100. The Alpha Score is a 0-100 composite of price momentum, inventory health, affordability, economic strength, and rental yield.
Is Indianapolis, IN or Phoenix, AZ more affordable?
Indianapolis, IN is more affordable on our affordability dimension. Price-to-income is 4.2 in Indianapolis, IN and 5.5 in Phoenix, AZ.
Which housing market has stronger momentum, Indianapolis, IN or Phoenix, AZ?
Indianapolis, IN has stronger price momentum — 44/100 vs 41/100.
What is the median home price in Indianapolis, IN vs Phoenix, AZ?
The median sale price is $325K in Indianapolis, IN and $469K in Phoenix, AZ.
Want to swap in other cities, change the metrics, or chart the trend over time? Customize this comparison → in the interactive Compare tool. Or read the Indianapolis, IN market brief and the Phoenix, AZ brief.