West Clay in Carmel: What It Costs, What the HOA Covers, and Who It Fits

The price range is wide. The low end was a $435,000 sale on a smaller home and the high end was $1.8 million. In The Village, three sales landed between about $785,000 and $816,000. The Waterfront sales were tighter, between $1,050,000 and $1,165,000.

At about $248 per square foot, West Clay is at the top of the neighborhoods I have pulled so far, along with the newer Pebble Brook Crossing section in Noblesville.

I read the master Declaration of Covenants and Restrictions for The Village of WestClay. The copy I have is a 1998 draft, with a blank recording date, so it may differ from what was finally recorded. It is also the master document. West Clay is built from many neighborhoods, and each has its own supplemental declaration with its own dues and rules. I also read a set of recorded supplements from 1999 through 2002, covering several of the early parcels, and they are summarized below. They do not cover every neighborhood, so the supplement for your exact address is what controls.

• Mandatory association. Every owner is automatically a member of the WestClay Owners Association. The board sets the general assessment each year, and residential lots are charged at a uniform rate. Changing the basis for assessments takes a two-thirds vote of members.
• Neighborhood-level dues. Beyond the general assessment, the declaration allows annual Parcel Assessments for a specific neighborhood, set by that neighborhood's supplemental declaration. That is why dues can differ by neighborhood. Ask for the supplement that covers the exact home.
• One-time capital fee. The draft sets a one-time initial assessment into the reserve fund, $300 for a single-family lot, due when a lot is first conveyed by the developer or first occupied. It reads as a first-owner fee, not a charge on every resale.
• Special assessments. A special assessment for a capital improvement needs approval from a majority of members who vote. Assessments unpaid after 30 days can accrue interest up to the legal maximum, and the association can add collection costs and attorney fees.
• Liens and suspended privileges. Unpaid assessments are a lien on the lot, and the association can suspend use of the paths, lake, ponds and community buildings after 30 days of nonpayment. Ask the association for a written certificate showing what is owed on the lot before closing.
• Architectural approval. The Architectural Review Board must approve a plan before you build or change anything outside the house, including fences, walls, pools, patios, ball courts, exterior lighting, signs and plantings 18 inches or taller, and before you remove a significant tree. If the board does not respond within 60 days, the plan is treated as denied, and you can appeal to the association board.
• Upkeep. Owners must keep lots and exteriors in good repair. If you don't, the association can do the work after notice and charge you for it.
• Lake and ponds. No boats. Use is limited to fishing and whatever the board authorizes.
• Renters. The declaration defines a tenant as someone leasing under a written lease with an initial term of at least 12 months. I found no cap on rentals in the master document, but the neighborhood supplements may add leasing rules.
• Neighborhood supplements. The supplements I read were signed by the original developer and cover several early parcels, including townhome-style blocks with shared walls and the Village Center. Terms differ by parcel, so treat these as examples of how West Clay works, not as rules for every home.
• Townhome blocks and shared walls. In the attached-home sections, the association insures the buildings and restores them after fire or other damage, and owners who share a party wall split its routine repair cost equally. The association can also arrange lawn care for an owner on request and bill it back. Expect a separate section assessment, billed in monthly installments, on top of the master dues.
• Rental terms in some sections. At least two of the supplements I read require any lease to be in writing with an initial term of at least six months, and make a tenant's rule violation a default under the lease that the owner must enforce. Other supplements I read did not include a rental rule, so ask for the one that covers the home.
• Pets and garages. The supplements limit pets to dogs, cats and other household pets the board designates, which must be kept on the owner's lot, and they require garages to stay usable for parking vehicles.
• Open to the public. The trail system, MacArthur Field, Glebe Street Green, Settler's Legacy Nature Preserve, University Green and the open space around Hourglass Lake are open to the general public, not only residents.

This summary is from courtesy copies of a draft master declaration and early supplements. Supplements for other neighborhoods, later amendments and current association rules were not reviewed, and any of these provisions may have been changed, so confirm with the association before you buy.

What is the median home price in West Clay, Carmel?

Over the last 12 months, 14 homes sold with a median sale price of $1,127,750, ranging from $435,000 to $1,800,000 (MIBOR data, November 2026).

How much are the HOA fees in West Clay?

Listings I reviewed showed fees of about $561 to $573 per month and $612 to $1,437 per quarter. The amount varies by home type, so confirm the exact fee and billing period for the home you are considering.

What amenities does West Clay have?

Listings described a clubhouse, pool, fitness center, tennis and basketball courts, a park and playground, walking trails and a nature area.

Is Waterfront of West Clay in Carmel?

The Waterfront homes in my data had Zionsville mailing addresses but are served by Carmel Clay Schools. Check the address and school assignment for the specific home.

Comparing options? Read the other Carmel neighborhood guides: Bridgewater Club, Crooked Stick, Woodland Springs, Plum Creek. Or start at the Carmel overview.