ZIP Code · IN

ZIP 46041

Part of Frankfort, IN

Pop. 23,134·Clinton County·130th most expensive ZIP in Indiana

Median rent (all units)

$939/mo

Year-over-Year

Stable

Month-over-Month

-2.9%

vs US Median

-$993

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 46041 · $939

More affordable than 99% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$810

1 BR

$940

2 BR

$1,100

3 BR

$1,440

4 BR+

$1,730

Research median

$1,100/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

What a typical income covers

30% of the median household income ($63,157) is $1,579 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,440); a 4-bedroom is $1,730.

From Zillow's monthly rent index (ZORI) for ZIP 46041. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$11,268/yr

At $939/mo median

Location

CityFrankfort

StateIN

CountyClinton County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 0.0% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+0.0% YoY, -2.9% MoM), not inventory.

Demographics

Who lives here

ZIP 46041 (Frankfort, IN) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 15.4% of residents hold a bachelor's degree or higher.

Population

23,134

Median income

$63,157

Median age

36.9

Renters

28.6%

Age distribution

25.9%

21.4%

23.2%

13.6%

15.9%

Under 1825.9%

18–3421.4%

35–5423.2%

55–6413.6%

65+15.9%

Gender

49.3%

50.7%

Male49.3%

Female50.7%

Race & ethnicity

77.1%

25.4%

White77.1%

Black0.7%

Hispanic25.4%

Education (25+)

15.4%

43.7%

25.5%

15.4%

No HS diploma15.4%

HS diploma43.7%

Some college25.5%

Bachelor's+15.4%

Housing tenure

71.4%

28.6%

Owner71.4%

Renter28.6%

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

2021 vs 2026

How ZIP 46041 in Frankfort, IN has changed in 5 years

Income

$53,250 → $63,157

up 18.6%

Population

23,126 → 23,134

up 0.0%

Renter share

31.1% → 28.6%

-2.5 pts

Bachelor's+

14.7% → 15.4%

+0.7 pts

Household income in the area moved from $53,250 to $63,157 across the same window, up 18.6% versus 2021. The renter share has eased from 31.1% to 28.6%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 46041

Last updated: October 17, 2026

ZIP code 46041 covers Frankfort, IN. The median rent here is $939/mo as of October 2026. A 1-bedroom rents for a median of $940/mo. A 2-bedroom rents for a median of $1,100/mo.

At 18% of local median household income ($63,157/yr), ZIP 46041 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46041?

To keep rent at or below 30% of gross income, you would need to earn at least $38,000/year (about $18/hour full-time) to afford the median rent of $939/mo in ZIP 46041. The local median household income is $63,157/yr, so the typical household meets that bar.