Indiana · Indianapolis-Carmel-Greenwood, IN metro area

Buying a home in Fishers, Indiana

In Fishers, the median value of owner-occupied homes is $391,000, Hamilton County's effective property tax rate is 0.88%, a purchase mortgage carried a median $3,799 in total loan costs in 2025, and median gross rent is $1,611 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Fishers home costs, fact by fact

About Fishers

Fishers is a city of 103,986 residents that lies in the Indianapolis-Carmel-Greenwood, IN metro area, 33rd in the country. Some 76.2% of homes are owner-occupied, and median gross rent is $1,611 per month.

Reading the Fishers figures

Fishers sits near the top of the Indiana range on price, second only to Carmel among the cities named here. Fishers owners value the median home at $391,000, compared with $486,800 in Carmel and $255,200 for the state. Indianapolis is far lower. Fort Wayne drops to $188,900, and the smallest values, in Evansville and South Bend, are $143,100 and $140,400.

Renters see a smaller contrast. Median rent is $1,611, below the $1,712 found in Carmel and above the $1,156 found in Indianapolis. HUD lists $1,536 for the Indianapolis-Carmel zone, so a local lease at the median costs more than that benchmark. Ownership is the dominant tenure: 76.2% of homes are owner-occupied, the highest share among the cities listed on this page, ahead of Carmel's 74.3% and far ahead of Evansville's 54.6%.

For the tax side, Hamilton County applies an effective rate of 0.88%, and the median annual bill is $3,549, reflecting a middle home worth $405,500 in the county. That rate is modest next to the price level of the city, so the bill follows mostly from value. Lenders across 5,666 loans in 2025 charged $3,799 at the median, with typical quotes between $2,897 and $6,256. A buyer in Fishers is therefore weighing a high purchase value against a light recurring tax rate, while lender quotes can still differ. Next to Evansville, where rent is $975, the Fishers numbers show how far apart the covered Indiana cities are.

Calculate for Indiana

If you buy

Indiana state transfer tax

Indiana has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$255,200
State transfer tax$0
Share of the price—

Default price: the Indiana median value of owner-occupied homes, $255,200 (Census ACS 2025). Rule: No tax is calculated on the price; the fees are flat. Who pays: Nobody pays a transfer tax. The county pages do not say who pays the fees; the purchase contract decides. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Indiana transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Indiana state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Fishers

How much is property tax in Fishers?

Homeowners in Hamilton County pay a median $3,549 a year in property tax, 0.88% of the county median home value of $405,500 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Fishers?

Home-purchase mortgages in Hamilton County carried median total loan costs of $3,799 in 2025; half of the 5,666 loans fell between $2,897 and $6,256 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Fishers?

Indiana has no real estate transfer tax in its tax code. A deed transfer costs flat fees instead; in Marion County that is $10 per parcel and $20 per sales disclosure form to the Assessor plus $35 per document to the Recorder.

Is it cheaper to rent or buy in Fishers?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Fishers ($391,000) equals 20.2 years of the median gross rent ($1,611 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Indiana rules that apply in Fishers

Other large cities in Indiana

Who licenses each trade in Indiana · All covered cities

Sources

Indiana · All states · Federal guides