ZIP Code · IN

ZIP 46016

Part of Anderson, IN

Pop. 17,834·Madison County·127th most expensive ZIP in Indiana

Median rent (all units)

$988/mo

Year-over-Year

+0.7%

Month-over-Month

-1.7%

vs US Median

-$944

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 46016 · $988

More affordable than 98% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$890

1 BR

$910

2 BR

$1,200

3 BR

$1,590

4 BR+

$1,590

Research median

$1,200/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 46016 is 2.6% below its high of $1,014 in June 2026, at $988 as of September 2026.

Past year vs. the rest of Indiana

Rent in ZIP 46016 changed +0.7% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has fallen 2 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($36,029) is $901 a month. That covers HUD's Fair Market Rent for up to a studio ($890); a 1-bedroom is $910.

Rank in Anderson

1st cheapest of 3 ZIP codes in Anderson.

From Zillow's monthly rent index (ZORI) for ZIP 46016. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$11,856/yr

At $988/mo median

Location

CityAnderson

StateIN

CountyMadison County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (up only 0.7% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+0.7% YoY, -1.7% MoM), not inventory.

Demographics

Who lives here

ZIP 46016 (Anderson, IN) is majority renter-occupied, has a median income below the national average, 9.4% of residents hold a bachelor's degree or higher.

Population

17,834

Median income

$36,029

Median age

34.6

Renters

59.5%

Age distribution

24.4%

26.2%

26.9%

Under 1824.4%

18–3426.2%

35–5426.9%

55–6411.7%

65+10.8%

Gender

50.9%

49.1%

Male50.9%

Female49.1%

Race & ethnicity

66.7%

14.5%

13.9%

White66.7%

Black14.5%

Hispanic13.9%

Other4.5%

Education (25+)

19.6%

47.2%

23.9%

No HS diploma19.6%

HS diploma47.2%

Some college23.9%

Bachelor's+9.4%

Housing tenure

40.5%

59.5%

Owner40.5%

Renter59.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 46016 in Anderson, IN has changed in 5 years

Rent

$815 → $988

up 21.2%

Income

$29,879 → $36,029

up 20.6%

Population

18,412 → 17,834

down 3.1%

Renter share

59.7% → 59.5%

-0.2 pts

Bachelor's+

9.1% → 9.4%

+0.3 pts

Median age

33.6 → 34.6

+1.0 yrs

Since 2023, the typical rent in ZIP 46016 in Anderson, IN has increased from $815 to $988, a 21.2% change over five years. Median household income rose from $29,879 to $36,029 between 2021 and 2024, a 20.6% shift. The population has contracted by 3.1% since 2021, moving from about 18,412 residents to roughly 17,834. Taken together, the five-year picture in ZIP 46016 in Anderson, IN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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Local insights

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About renting in ZIP 46016

Last updated: October 17, 2026

ZIP code 46016 covers Anderson, IN. The median rent here is $988/mo as of October 2026. A 1-bedroom rents for a median of $910/mo. A 2-bedroom rents for a median of $1,200/mo.

At 33% of local median household income ($36,029/yr), ZIP 46016 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46016?

To keep rent at or below 30% of gross income, you would need to earn at least $40,000/year (about $19/hour full-time) to afford the median rent of $988/mo in ZIP 46016. The local median household income is $36,029/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 46016?

Rent in ZIP 46016 has risen 0.7% over the past year as of September 2026. It sits 2.6% below its high of $1,014 in June 2026.

How does ZIP 46016 compare to other ZIPs in Indiana?

ZIP 46016 is one of the more affordable among Indiana ZIP codes for rent, ranking #127 of 139 at $988/mo. Over the year to September 2026, rent in ZIP 46016 changed +0.7%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.