University Heights, Homecroft, Glenns Valley and the south side down to County Line Road. Most of Marion County loosened up this year. Perry went the other way. Here is what that means for an offer.
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Perry Township is the south-central slice of Marion County: about 46 square miles and 121,768 people at the 2020 Census. Most of it is Indianapolis, but it also holds two places that kept their own governments, the city of Southport and the small town of Homecroft, plus the southwest third of Beech Grove. It grew on greenhouses and truck farms along Bluff Road and Meridian Street, then nearly tripled in population between 1950 and 1970.
Here's the thing about Perry this year: it tightened while most of the county loosened. Months of supply fell from 3.0 to 2.0 in August. Perry and Decatur were the only two of Marion County's nine townships where supply was lower than a year ago, and Perry's drop was the bigger one. Sales rose about 8%, from 777 to 843, and the median climbed 4.1% to $249,900.
Homes took a median of 19 days to go under contract, a little longer than last year's 16, and sellers got 98.2% of list. So it isn't a bidding-war market. It's a market where the good houses sell and there aren't many extras sitting around to fall back on.
What you are actually buying: a $249,900 median, I-65, I-465 and now I-69 all running through the township, and the Red Line's south end at UIndy. What you are giving up: new-construction choice (none of the active builder communities in my Marion County data are in Perry), and simple answers on who provides services, since Southport, Homecroft and Beech Grove each have their own government.
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Perry runs from the UIndy neighborhoods near the city down to County Line Road, with three separate governments mixed in. Check which one an address is in.
The north end, around the University of Indianapolis on Hanna Avenue just east of Shelby Street. William Elder donated the land for the college in 1902, and University Heights incorporated and Edgewood was platted in 1907. The Red Line's southern end, University station, is on campus.
See homes →A small included town, a quarter square mile with 752 people in 2020. Frank Gates started developing it in 1923, and much of it is the Homecroft Historic District on the National Register, mostly bungalows built about 1930 to 1950. It's part of Indianapolis but keeps its own town government.
See homes →A separate city with its own government (an excluded city under Unigov), around Southport Road and Madison Avenue, 2,123 people in 2020 (46227). It was the township's first community and grew on the Madison and Indianapolis Railroad.
See homes →About a third of Beech Grove sits in Perry. Beech Grove is a separate city with its own government and its own school district, Beech Grove City Schools (46107). It grew around the railroad shops opened in 1906, now Amtrak's 108-acre Beech Grove Shops.
See homes →The southwest part, along the former State Road 37. Glenns Valley dates to the 1820s. I-69 opened all the way to I-465 in August 2024, with Marion County interchanges at Southport Road and at Epler Avenue and Harding Street.
See homes →In June 2025 the City-County Council upheld a rezoning for Trees at Southport Crossing, 132 planned homes on a mostly wooded 61-acre site at 7500 S. Sherman Drive, with more than half kept as green space and an estimated average price of about $400,000 as reported at the time. I haven't confirmed a builder or a start date. For active new builds in the county, see the Marion County new home builds page.
See homes →Neighborhood guides: Hill Valley Estates · Holly Hills · McFarland Farms · The Villages of Cobblestone · Shannon Lakes
Most of the township is served by Perry Township Schools (MSD of Perry Township). Beech Grove is served by Beech Grove City Schools, and Indianapolis Public Schools includes sections of the township. Confirm the assignment for the specific address.
Voters first approved an operating referendum in May 2015 and renewed it in May 2022 for eight years at about 42 cents per $100 of assessed value, roughly $19.3 million a year, for staff pay, transportation and operations. That rate is already on the tax bill. I found no Perry Township Schools question on the November 3, 2026 ballot, though the state list I checked may not be complete.
The Indianapolis Public Education Corporation, a new appointed board created by state law in 2026, has an operating referendum on the November 3 ballot for addresses inside the IPS boundary: up to 37.2 cents per $100 of assessed value for up to four years, capped at $95 million a year, with the revenue split between IPS and participating charter schools. The ballot estimates $221 a year on a $150,000 median home. It replaces the 2018 IPS referendum rate of 19.6 cents, which expires in December 2026, so the net change reported by IPS and local coverage is roughly $100 to $115 a year on that home.
Either way, put the rate into your carrying-cost math before you write an offer. Referendum rates sit outside the 1% cap.
Madison Avenue is the main north-south street, with Meridian Street, US 31, I-65 and I-465 all crossing the township. I-69 now connects to I-465 through the southwest side. IndyGo's Red Line runs from University station at UIndy north through downtown to Broad Ripple. An extension south to Greenwood has been approved, but I found no date for it.
Perry Park on Stop 11 Road has an NHL-size indoor ice rink from September to April, a seasonal outdoor pool, courts and fields. Bluff Park on Hanna Avenue got a new playground and resurfaced courts in 2024. Southwestway Park, with a 7.3-mile mountain bike trail, is along the White River off Mann Road.
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. Marion County's local income tax is 2.02%, per Indiana Department of Revenue Departmental Notice #1, effective October 1, 2026. Confirm assessments with the Marion County Assessor.
If you want a new build, Perry has almost nothing active; look next door at Franklin Township or south to Greenwood. And if you need time to think, a two-month supply won't give you much of it.
The median single-family sale was $249,900 year to date through August 2026, on 843 closings, up 4.1% from $240,000 over the same stretch of 2025.
Tighter than last year. Months of supply fell from 3.0 to 2.0 in August, and homes went under contract in a median of 19 days against 16 a year ago. Sellers received 98.2% of list.
They sit inside the township, but both are separate cities with their own governments. Southport is in Perry, and so is about a third of Beech Grove. Homecroft is a small included town that is part of Indianapolis but keeps its own town government.
Most of the township is served by Perry Township Schools (MSD of Perry Township). Beech Grove is served by Beech Grove City Schools, and Indianapolis Public Schools includes sections of the township. Confirm the assignment for the specific address.
Perry Township Schools' operating referendum was renewed in May 2022 for eight years at about 42 cents per $100 of assessed value. I found no Perry question on the November 2026 ballot. IPS addresses will vote on the Indianapolis Public Education Corporation's operating referendum, up to 37.2 cents per $100 for up to four years.
Very little. None of the active builder communities in my Marion County data are in Perry. Trees at Southport Crossing, 132 homes on S. Sherman Drive, had its rezoning upheld in June 2025, but I haven't confirmed a builder or timeline. See the Marion County new home builds page.
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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