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ZIP Code · IN

ZIP 46038

Part of Fishers, IN
Pop. 43,754·Hamilton County·29th most expensive ZIP in Indiana
Median rent (all units)
$1,748/mo
Year-over-Year
+1.2%
Month-over-Month
+0.6%
vs US Median
-$217
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 46038 · $1,748
More affordable than 55% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,470
1 BR
$1,670
2 BR
$1,940
3 BR
$2,510
4 BR+
$3,080
Research median
$1,940/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: July 20, 2026

Annual cost
$20,976/yr
At $1,748/mo median
Location
StateIN
CountyHamilton County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (1.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+1.2% YoY, +0.6% MoM), not inventory.
Demographics

Who lives here

ZIP 46038 (Fishers, IN) is majority owner-occupied, has a median income above the national average, 61.4% of residents hold a bachelor's degree or higher.

Population
43,754
Median income
$106,886
Median age
36.3
Renters
29.9%
Age distribution
23.3%
25.3%
29.5%
12.4%
Under 1823.3%
18–3425.3%
35–5429.5%
55–649.5%
65+12.4%
Gender
49.9%
50.1%
Male49.9%
Female50.1%
Race & ethnicity
78.6%
White78.6%
Black6.1%
Hispanic5.3%
Asian6.5%
Other3.5%
Education (25+)
12.1%
23.4%
61.4%
No HS diploma3.1%
HS diploma12.1%
Some college23.4%
Bachelor's+61.4%
Housing tenure
70.1%
29.9%
Owner70.1%
Renter29.9%

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

2021 vs 2026

How ZIP 46038 in Fishers, IN has changed in 5 years

Rent
$1,253 → $1,748
up 39.5%
Income
$98,522 → $106,886
up 8.5%
Population
43,067 → 43,754
up 1.6%
Renter share
29.4% → 29.9%
+0.5 pts
Bachelor's+
60.2% → 61.4%
+1.2 pts
Median age
35.1 → 36.3
+1.2 yrs

Compared with 2021, rent in ZIP 46038 in Fishers, IN has increased by $495 per month, settling near $1,748 after starting the period at $1,253. Median household income grew from $98,522 to $106,886 between 2021 and 2024, a 8.5% shift. Rent outpaced income growth by roughly 31.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 43,067 to 43,754 between 2021 and 2024, a 1.6% change. Taken together, the five-year picture in ZIP 46038 in Fishers, 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

Tips for renters in ZIP 46038

About renting in ZIP 46038

Last updated: July 20, 2026

ZIP code 46038 covers Fishers, IN. The median rent here is $1,748/mo as of July 2026. A 1-bedroom rents for a median of $1,670/mo. A 2-bedroom rents for a median of $1,940/mo.

At 20% of local median household income ($106,886/yr), ZIP 46038 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46038?

As of July 20, 2026, the median monthly rent in ZIP 46038 (Fishers, IN) is $1,748. This is based on aggregated data from public sources and community submissions.

How does ZIP 46038 rent compare to the US average?

ZIP 46038's median rent of $1,748/mo is $217 (11%) below the US national median of $1,965/mo.

How does ZIP 46038 compare to other ZIPs in Indiana?

ZIP 46038 is one of the pricier ZIP codes in Indiana, ranking #29 out of 144 ZIPs tracked at $1,748/mo.

How much income do you need to rent in ZIP 46038?

To keep rent at or below 30% of gross income, you would need to earn at least $70,000/year (~$34/hour full-time) to afford the median rent of $1,748/mo in ZIP 46038. The local median household income is $106,886/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 46038?

Rent in ZIP 46038 has increased 1.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 46038 an affordable place to rent?

ZIP 46038 is considered very affordable for renters. At $1,748/mo, rent takes approximately 20% of the local median household income ($106,886/yr). The standard benchmark is 30%. ZIP 46038 falls comfortably within that range.

What percentage of ZIP 46038 residents rent vs. own?

According to Census data, approximately 29.9% of ZIP 46038 households are renters, while 70.1% are owner-occupied. ZIP 46038 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 46038 compare to the rest of Fishers?

ZIP 46038 is more affordable than Fishers overall. At $1,748/mo, it's $135 below the Fishers citywide median of $1,883/mo.

When was rent data for ZIP 46038 last updated?

Rent data for ZIP 46038 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $1,748/mo, rent takes ~20% of ZIP 46038's median household income ($106,886/yr). The standard benchmark is 30%.

ZIP 46038 20%Benchmark 30%
State income tax3.05%
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