More homes sold this year than last, at about the same price, but they are taking almost twice as long to sell. Here is what that means if you are buying or selling in Pendleton.
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Pendleton is busier than it was. Closings rose 28%, from 192 to 246, from January through September. The median barely moved: $336,178, against $340,345 a year earlier. What changed is time. Homes spent a median of 24 days on market, up from 13.
Sellers still got 98.3% of list on average, close to last year's 98.7%, and supply was 3.0 months in September. So buyers aren't getting big discounts. They are getting time to compare, and in Pendleton that often means comparing a resale with a new build down the road: five builders list communities in Pendleton.
Pendleton is a town, run by a town council, with 4,717 people in the 2020 Census and a Census estimate of 5,930 for 2025. It sits on Fall Creek on Anderson's southwest edge. The Pendleton Historic District covers 198 acres of the old town and its 19th-century business district, and Falls Park, with its man-made falls on the creek, hosts the town's June Jamboree. An EF-2 tornado hit the town in May 2019.
What you are actually buying: a small historic downtown, I-69 at the edge of town, and new construction starting in the mid-$200,000s. What you are giving up: a lower tax bill on your paycheck. Madison County's local income tax is 2.25%, against 1.1% in Hamilton County. On $100,000 of taxable income, that is about $1,150 more a year.
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The old town around the creek, the new subdivisions at the edges and the land south of town are different buys, and the town is still growing outward: the town council approved an annexation in March 2026.
The Pendleton Historic District was listed on the National Register in 1991. It covers 198 acres between Fall Creek and the old rail line, with the original plat, the 19th-century business district and homes from Federal to Craftsman. The town adopted updated comprehensive and downtown plans with HWC Engineering. Older homes, older systems. Budget for the inspection findings.
See homes →Falls Park, off Pendleton Avenue (SR 9), has paths around the falls, a large playground, a ball field, shelters and a small museum. The 2019 tornado took at least half its trees, and new restrooms and a redesigned garden followed. Near the creek, check the FEMA flood map for the specific parcel.
See homes →Silverthorne Homes' Falls at Pendleton is off Lapel Road, about a quarter mile from Main Street. The builder describes it as walking distance to downtown.
See homes →SR 38 is State Street through the middle of town, and I-69 runs along the west and north edges, with exits 219 and 222. INDOT's 2016 project added a lane each way from SR 37 in Fishers to SR 38 here.
See homes →Arbor Homes' Cold Springs at Huntzinger Farm is reached from US 36 and SR 9 by Huntzinger Boulevard. In February 2026 the Plan Commission recommended rezoning 21 acres off Pendleton Avenue and CR 690 S for about 42 homes, which the developer described at the mid-$300,000s to about $500,000.
See homes →Pendleton Correctional Facility, a state prison that opened in 1923, is on Reformatory Road south of town.
See homes →Pendleton is served by South Madison Community School Corporation. The builders list South Madison (Pendleton) schools for Cold Springs, Falls at Pendleton, Baker's Pointe and The Ridge at Fall Creek, but the boundaries don't follow the mailing address, so confirm the assignment for the specific address.
There is no South Madison referendum on the November 3, 2026 ballot. The Madison County Election Board approved three local questions: operating referendums for Anderson and Elwood schools, and an Edgewood town council question (Herald Bulletin, July 30, 2026). Confirm with the Madison County election office before you rely on that.
Falls Park hosts the June Jamboree every June, and the Fall Harvest Festival is on the Village Green each fall. Paddlers can put in on Fall Creek at the park. The Pendleton Community Library is at 595 E. Water St.
I-69 exits 219 and 222 serve the town, and the interstate is six lanes from here south to Fishers. Downtown Indianapolis is 25 to 30 miles away, depending on the source. 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 notice effective October 1, 2026, compared with 1.94% in Hancock County and 1.1% in Hamilton County. The South Madison Fire Territory, created in 2022, also shapes local property tax rates. Confirm assessments with the Madison County Assessor.
If price matters most, Anderson's median is $175,000, about $160,000 lower, ten miles up the road. If you'd rather be in a lower-income-tax county with a small-town Main Street, Fortville is in Hancock County at 1.94%, with a $360,000 median through August. If you'll be driving to Indianapolis every weekday, do that drive at rush hour before you buy.
The median single-family sale was $336,178 from January through September 2026, on 246 closings, compared with $340,345 over the same months of 2025. Source: MIBOR Broker Listing Cooperative.
In time, yes. Homes spent a median of 24 days on market, up from 13, and supply was 3.0 months in September. Sellers still received 98.3% of list price on average, so prices haven't softened much.
South Madison Community School Corporation serves Pendleton. Confirm the assignment for the specific address.
No. The Madison County ballot for November 3, 2026 has operating referendums for Anderson and Elwood schools, not South Madison. Confirm with the Madison County election office.
Builder sites checked October 12, 2026 showed Arbor Homes' Cold Springs at Huntzinger Farm with plans from $254,995, Lennar's The Ridge at Fall Creek from $305,995 and D.R. Horton's Baker's Pointe from $339,900. Silverthorne Homes (Falls at Pendleton) and Taylor Morrison (Mahoney's Corner) are also building here; their sites didn't show prices I could read.
About 25 to 30 miles from downtown Indianapolis, depending on the source, on I-69. Exits 219 and 222 serve the town.
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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