Speedway, IN
What Speedway is actually like
Speedway was platted in 1912 -- developer Lemon Trotter laid out "Speedway City" for Indianapolis Motor Speedway founders Carl G. Fisher, James A. Allison, Arthur C. Newby, and Frank H. Wheeler, envisioning a "horseless city" of auto-industry factories and workers' housing next to the track. The Speedway itself had opened three years earlier, on August 14, 1909, with the inaugural Indianapolis 500 run May 30, 1911, drawing an estimated 80,000 spectators.
As a genuine company town, Speedway grew around manufacturing tied to the auto and racing industry -- Prest-O-Lite (acetylene cylinders, 1912), Electric Steel Co. (1913), Allison Engineering (1917), and others. Residents incorporated the Town of Speedway on July 14, 1926; population passed 1,400 by 1930 and nearly tripled between 1950 and 1970.
Today Speedway is one of four "excluded cities" under Indianapolis's 1970 Unigov consolidation -- it sits inside Marion County and Wayne Township but keeps its own municipal government, police, fire, library, and water utility, independent of Indianapolis city hall. The 2020 Census counted 13,952 residents, up 18.1% from 2010. Starting in 2005, the town's redevelopment commission spent roughly $10 million on Main Street streetscape improvements that drew racing-related businesses back downtown, and a further roundabout and beautification project at 16th and Main was announced in 2026.
Home values in Speedway
We couldn't confirm a current, live home-value figure for Speedway specifically in our research — rather than publish a stale or citywide number that might not reflect this specific part of town, we're leaving pricing out of this particular guide for now.
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Explore Specialty Resources →Speedway FAQ
Is Speedway part of Indianapolis?
Geographically yes -- it's in Marion County's Wayne Township -- but it's a separately incorporated "excluded city" under Unigov with its own government, police, and fire departments, independent of Indianapolis city hall.
How disruptive is race day for residents?
The Indianapolis 500 draws crowds up to roughly 400,000 with extensive road closures and parking restrictions around the track; the town and IMS both publish annual traffic and parking guides urging early arrival.
Who supplies water in Speedway -- is it Citizens Energy like Indianapolis?
No -- Speedway runs its own municipal water and sewer utility. Citizens Energy Group supplies natural gas there, but not water.
Is there public transit to downtown?
Yes -- IndyGo Route 25 runs along West 16th Street with stops at "Motor Speedway" and "Speedway Center," connecting to the Downtown Transit Center.
How good are the schools?
The School Town of Speedway is a standalone small district serving roughly 1,650-1,776 students, rated A+ overall and ranked #1 among Marion County school districts by Niche.