In today’s housing market, $400,000 means very different things depending on where you’re looking in Indiana. Whether you want a modern townhome in Carmel, a historic property in Indianapolis, or a new-construction family home in Greenfield—$400K can stretch far if you know where to look.
As Indiana’s top residential and commercial realtor, I’ve helped hundreds of buyers make the most of their budget in Indianapolis, Carmel, Fishers, Westfield, Noblesville, Zionsville, Greenwood, Greenfield, and surrounding areas. Let’s explore what $400,000 can get you in each of these unique markets in 2025.
Indianapolis
What $400K gets you:
- A fully renovated 3–4 bedroom home in historic neighborhoods like Meridian-Kessler or Irvington
- 2,000–2,500+ sq ft
- Modern kitchens, finished basements, new HVAC or roofing
- Walkability to local restaurants, trails, or schools
Pro tip: In Indy, charm and space are yours—if you’re okay with an older build.
Carmel
What $400K gets you:
- 3-bed, 2.5-bath townhomes or older single-family homes
- 1,800–2,200 sq ft in highly rated school zones
- Proximity to downtown Carmel, the Monon Trail, and art districts
Pro tip: Inventory under $450K in Carmel moves fast. Work with a hyper-local agent (me) who can help you move before the bidding war starts.
Fishers
What $400K gets you:
- 3–4 bed, newer homes (2010–2020 build)
- Family-focused neighborhoods like Sand Creek Farms or Britton Ridge
- Great amenities: parks, walking trails, and access to top-rated HSE schools
Pro tip: Fishers offers just-right pricing for young families seeking suburban calm with easy access to I-69.
Westfield
What $400K gets you:
- Brand-new or nearly new construction homes
- 3–4 beds, 2.5 baths, ~2,200–2,600 sq ft
- Access to Grand Park, Westfield-Washington schools, and new shopping developments
Pro tip: Westfield is booming. $400K here can still buy new—but not for long.
Noblesville
What $400K gets you:
- 4-bed homes built after 2015 in family-friendly subdivisions
- Homes with finished basements, fenced yards, and neighborhood amenities
- Convenient to Ruoff Music Center, schools, and shops
Pro tip: Noblesville gives you newer homes than Carmel—often for $40K–$60K less.
Zionsville
What $400K gets you:
- 3-bed ranches or smaller two-story homes built in early 2000s
- Access to elite Zionsville Community Schools
- Peaceful streets, boutique shopping, and a charming downtown
Pro tip: Zionsville is a top-tier area—$400K homes go quickly. Let’s move fast with pre-approval in hand.
Greenwood
What $400K gets you:
- 4-bed, 3-bath homes in established neighborhoods with mature trees
- Room to grow—2,200–3,000 sq ft
- Access to Center Grove schools and shopping hubs
Pro tip: Greenwood offers one of the best price-per-square-foot values in the Indy metro area.
Greenfield
What $400K gets you:
- New construction with 3–4 beds and large lots
- Customizable features (fireplaces, sunrooms, finished basements)
- A true small-town feel with big-city convenience 30 minutes away
Pro tip: Greenfield is ideal for those who want space, quiet, and newer homes at a great value.
So, Where Should You Buy?
It depends on your priorities:
| Priority | Best Cities |
|---|---|
| Best Schools | Zionsville, Carmel, Westfield |
| Best Value per Sq Ft | Greenwood, Greenfield, Noblesville |
| Walkability + Charm | Indianapolis, Zionsville |
| New Construction | Westfield, Greenfield, Fishers |
Work with Indiana’s Top Realtor to Maximize Your $400K
No matter your budget, working with the right agent means unlocking more value, finding better neighborhoods, and winning competitive offers.
As Indiana’s trusted real estate expert, I help buyers:
Find hidden opportunities before they hit the public market
Negotiate strong offers in competitive zip codes
Choose the right schools, neighborhoods, and home features for long-term happiness
Save time, money, and stress through every step of the process
Ready to see what $400,000 can buy for your family?
Let’s schedule your custom home search today: TalkToAnnie.com
Photo Credits: Hans Isaacson
Sources:
Zillow Market Data – Indiana Cities (2025)
Realtor.com Neighborhood Insights
