$224,680Average Value$204Average Price per Sq Ft20Homes For Sale
Proximity to Broad Ripple and Indiana's busiest event
Indy’s Fairgrounds neighborhood is clearly defined by its most prominent landmark: the Indiana State Fairgrounds, which have hosted Indiana’s most well-attended annual event since 1892. But it’s also become increasingly defined by the Indy neighborhood a couple miles to its north – trendy Broad Ripple. The Fairgrounds neighborhood is also known locally as part of South Broad Ripple, with an increasing number of incoming residents taking advantage of the proximity to Broad Ripple with a more affordable price point.
Historic bungalows getting modern facelifts
“You’re seeing a lot of first-time homebuyers in that area,” says Bryan Arnold, a Realtor with Keller Williams Indy Metro North. “Houses are being renovated to match buyers’ desires for 2024 and still affordable.” Most homes in the neighborhood – a mix of bungalows, cottages and ranches – are at least 80 years old. There are also a growing number of new custom builds on old lots. House prices range from $99,000-$350,000.
Eclectic music venue part of revival
Businesses like Black Circle Music Bar -- based in the Refinery 46 business incubator complex -- and its nearby brewery and distillery are enhancing the neighborhood's economics. “The owner, Jesse Rice, is a guy who cares about the community,” Arnold says. “He’s trying to open things in places that can stimulate growth in the community.” Designed to feel like a basement hangout at someone’s house, Black Circle hosts an eclectic mix of everything from metal bands to comedians, drag nights and trivia nights. A few blocks away on 46th St., GoldLeaf Savory & Sweet is one of the top-rated coffee shops in Indianapolis. The Keystone Ave. location of R&R Extreme Wings, an expanding local chain of four Indy restaurants offering wings with 22 sauce choices, is another Fairgrounds favorite. The closest grocery options are in adjacent neighborhoods – an Aldi and the locally-owned Vega Grocery in Millersville, and The Fresh Market in Meridian-Kessler.
State Fair is Indiana's main event
Taking place over 17 days in early August, the Indiana State Fair is a spectacle in every way. More than 830,000 Hoosiers attend each year. Combined with an armada of RVs and semi-trailers, traffic, noise and light pollution can obviously become factors in the neighborhood’s southern half during this time of year. The upside? Neighborhood residents can avoid that by simply walking to the Fairgrounds. Indiana Farmers Coliseum – the only venue in Indiana to host a Beatles concert – is home to IUPUI basketball and the East Coast Hockey League’s Indy Fuel during winter and spring months. The Fairgrounds also hosts other events throughout the year.
Zoned for Shortridge High
Rosseau McClellan School No. 391, an Indianapolis Public School which serves kindergarten through eighth grade students in the neighborhood, receives a C-plus rating on Niche. High schoolers are zoned to attend Shortridge High, perhaps best known as the alma mater of legendary author Kurt Vonnegut. Shortridge, which is the only school in the state to offer International Baccalaureate curriculum to all of its students, receives a B-rating. St. Joan of Arc, a K-8 Catholic school in the neighboring Oliver Johnson’s Woods neighborhood, is also an option for neighborhood residents.
Bike Polo enthusiasts call Arsenal Park home
The 13-acre Arsenal Park features a picnic area, splash pad, basketball court and playground as well as a DIY skatepark for enterprising skateboarders. The park is also the home base for the Indy Bike Polo club – an adaptation of the sport using bikes in lieu of horses.
Central location benefits all forms of transportation
IndyGo bus routes run along 38th and 46th Streets as well as Keystone Avenue. The 25-mile Monon Trail, which stretches from downtown past north suburban Carmel, runs along the neighborhood’s western boundary. There are also bike lanes along 46th and 52nd Streets. And just about all of Indy is easily reachable by car. “You’re centrally located with easy access to everywhere,” Arnold says. “You can get up to Broad Ripple or to downtown within 15 minutes.”
The face of Fairgrounds continues to change
Much has recently changed, and is still changing, in Fairgrounds. Indiana School of the Deaf, located here for decades, left its longtime neighborhood campus in 2022 to combine resources with the Indiana School for the Blind and Visually Impaired. Auto races at the Fairgrounds, which contributed to neighborhood noise levels from the 1940s until 2021, have been discontinued in favor of horse harness racing.
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Fairgrounds Demographics and Home Trends
On average, homes in Fairgrounds, Indianapolis sell after 45 days on the market compared to the national average of 53 days. The median sale price for homes in Fairgrounds, Indianapolis over the last 12 months is $245,000, up 9% from the median home sale price over the previous 12 months.
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