A small market where the median jumped and homes sold faster, but there were also more homes to choose from than anywhere else in Madison County. Here is what that means if you are buying or selling in Alexandria.
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Alexandria's median single-family sale was $195,000 from January through September, up about 16% from $168,500 a year earlier. That is on only 79 closings (73 last year), so read the jump with care: a few sales at either end can move it. Homes sold faster, in a median of 23 days against 34, and sellers received 96.7% of list price on average, up from 95.8%.
The other side is supply: 6.8 months in September, the highest of the four Madison County towns I cover and about twice the county's 3.2. Well-priced homes are selling, but a buyer has more to choose from here than in Anderson or Pendleton, and room to compare before making an offer.
Alexandria is a city, with a mayor and seven-member council, and 5,149 people in the 2020 Census, about the same as in 2010 (a Census estimate of 5,223 for 2025). It was platted in 1836 on the hope that the Indiana Central Canal would reach it, and Indiana's first interurban line ran from here to Anderson in 1898. Two miles west of town, the World's Largest Ball of Paint has been growing a coat at a time since 1977.
What you are actually buying: a small city with a downtown, Beulah Park and the county 4-H fairgrounds, at a median about $140,000 below Pendleton's. What you are giving up: the drive and some certainty on monthly costs. There's no I-69 exit for Alexandria, Indianapolis is about 48 miles away, and the city raised sewer and stormwater rates in 2026.
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Downtown, the park side, the two state highways and the township around the city are different buys, and the land north of town is where the change is.
The city's Redevelopment Commission has a Downtown TIF area and is mapping its boundaries, with the Washington and Harrison corridor as the priority (August 2026). In February 2026 the council approved a façade grant for a downtown building on West Berry Street. Older homes nearby mean older systems. Budget for the inspection findings.
See homes →Beulah Park, on South Park Avenue, has the city pool, a 1939 WPA bathhouse still in use, shelters and the Emery Lee Auditorium, and the Madison County 4-H Fair is held there every July. The 4-H fairgrounds are at 512 E. 4th St. Pipe Creek crosses the city south of the center; near it, check the FEMA flood map for the specific parcel.
See homes →SR 9 runs along the east side of the city, 11 miles south to Anderson and 21 miles north to Marion. In July 2026 the council discussed extending city water along SR 9 on the south side of town for two businesses.
See homes →SR 28 crosses the north tip of the city, nine miles west to Elwood. The existing 460-acre Alexandria Business Park there holds POET's ethanol plant. A 2025 state law lets the city annex about 460 more acres nearby for an industrial park; in August 2026 the city attorney said development there is under county jurisdiction for now. Residents raised concerns about a carbon-capture project at the POET plant at a July 2026 council meeting.
See homes →The township around the city, 51 square miles, is in the same school district, and its residents get free cards at the city library. Outside city limits, land use is a county decision: in July 2026 the Madison County Planning Commission recommended extending its data center moratorium to a year, and its planning director said no data center proposal had been filed.
See homes →Alexandria and Monroe Township are served by Alexandria Community School Corporation. Confirm the assignment for the specific address.
There is no Alexandria school referendum on the November 3, 2026 ballot. The state's referendum list has two Madison County school questions, for Anderson and Elwood, and the county's third question is Edgewood's council size (DLGF; Herald Bulletin, July 30, 2026). Confirm with the Madison County election office before you rely on that.
Voters approved a $19.3 million school building referendum in 2018, pitched at about 50 cents per $100 of assessed value for 19 years. A debt rate like that is on top of the tax caps, so check the current tax bill for any home you're looking at.
Beulah Park is the center of it: the pool, the 4-H Fair in July and the Small Town USA Festival. The Alexandria Grand Prix runs go-karts through downtown streets in August. The Alexandria-Monroe Public Library is in its 1903 Carnegie building at 117 E. Church St. The Ball of Paint is free to visit; call ahead.
No I-69 exit is signed for Alexandria; you reach the interstate through Anderson on SR 9. Indianapolis is about 48 miles away and Anderson 11. INDOT plans to replace the SR 9 bridge over Mud Creek north of town, with SR 9 closed and detoured during the work; no dates have been set. Drive your actual route at your actual start time before you commit.
Indiana caps homestead property tax at 1% of gross assessed value under the circuit breaker, so most owner-occupants land at or near that figure before any voter-approved referendum rate, which sits outside the cap. Rentals and second homes are capped at 2% and should be modeled separately. Madison County's local income tax is 2.25%, per the Indiana Department of Revenue's county rate notice, against 1.1% in Hamilton County; on $100,000 of taxable income that is about $1,150 more a year. In April 2026 the council raised sewer rates 39% in the first year, then 3% a year, and doubled stormwater rates over three years, after a state audit found the city overdrawn in at least 10 funds. Ask for recent utility bills on any home. Confirm assessments with the Madison County Assessor.
If you'll be driving to Indianapolis every weekday, do that drive at rush hour before you buy. If you want new construction, I didn't find a builder community in Alexandria; the ones in Madison County are in Pendleton. If you want more homes to choose from in a bigger city, Anderson is 11 miles south, with a $175,000 median on 692 sales.
The median single-family sale was $195,000 from January through September 2026, on 79 closings, up from $168,500 over the same months of 2025. With this few sales, a handful of homes can move the median. Source: MIBOR Broker Listing Cooperative.
Mixed. Homes sold in a median of 23 days, faster than last year's 34, and sellers received 96.7% of list on average. But supply was 6.8 months in September, the highest of the Madison County towns I cover, so buyers have choices.
Alexandria Community School Corporation serves the city and Monroe Township. Confirm the assignment for the specific address.
Not on the November 3, 2026 ballot. The Madison County school questions are for Anderson and Elwood. Alexandria voters approved a $19.3 million building referendum in 2018.
Madison County's local income tax is 2.25%, on top of Indiana's 2.95% state rate, per the Indiana Department of Revenue.
About 48 miles. Anderson is 11 miles south on SR 9, and I-69 is reached through Anderson.
I'm Wes Johnston, a Realtor with Trueblood Real Estate, based in Fishers. I cover the whole Indianapolis metro, and every guide on this site is built the same way: MIBOR numbers, public sources, and the trade-offs a listing description won't mention.
My job isn't to open doors. It's to tell you what a house is actually worth, what's wrong with it, and whether it's the right move for what you're trying to do — then negotiate hard on your behalf and own the process from contract to close.
If you're two years out, that's fine. Most of my best clients started with a question, not a showing.
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