ZIP Code · IN

ZIP 46140

Part of Greenfield, IN

Pop. 43,511·Hancock County·35th most expensive ZIP in Indiana

Median rent (all units)

$1,651/mo

Year-over-Year

+5.6%

Month-over-Month

+1.2%

vs US Median

-$281

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 46140 · $1,651

More affordable than 62% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,040

1 BR

$1,180

2 BR

$1,370

3 BR

$1,770

4 BR+

$2,170

Research median

$1,370/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

Cheapest month to sign

December. Asking rents in ZIP 46140 usually run 1% below trend in December and 0.9% above it in July, about $31 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 46140 is at its highest level since Zillow's records here began in May 2021.

Past year vs. the rest of Indiana

Rent in ZIP 46140 changed +5.6% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has risen 4 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($83,056) is $2,076 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,770); a 4-bedroom is $2,170.

From Zillow's monthly rent index (ZORI) for ZIP 46140. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,812/yr

At $1,651/mo median

Location

CityGreenfield

StateIN

CountyHancock County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.6% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.6% YoY, +1.2% MoM), not inventory.

Demographics

Who lives here

ZIP 46140 (Greenfield, IN) is majority owner-occupied, 28.6% of residents hold a bachelor's degree or higher.

Population

43,511

Median income

$83,056

Median age

40.7

Renters

26.1%

Age distribution

20.3%

21.2%

26.3%

13.3%

18.8%

Under 1820.3%

18–3421.2%

35–5426.3%

55–6413.3%

65+18.8%

Gender

49.5%

50.5%

Male49.5%

Female50.5%

Race & ethnicity

91.3%

White91.3%

Black1.4%

Hispanic3.6%

Asian1%

Other2.6%

Education (25+)

32.5%

32.6%

28.6%

No HS diploma6.4%

HS diploma32.5%

Some college32.6%

Bachelor's+28.6%

Housing tenure

73.9%

26.1%

Owner73.9%

Renter26.1%

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

2022 vs 2026

How ZIP 46140 in Greenfield, IN has changed in 5 years

Rent

$1,307 → $1,651

up 26.3%

Income

$71,260 → $83,056

up 16.6%

Population

41,214 → 43,511

up 5.6%

Renter share

27.2% → 26.1%

-1.1 pts

Bachelor's+

26.4% → 28.6%

+2.2 pts

Median age

39.5 → 40.7

+1.2 yrs

The median rent in ZIP 46140 in Greenfield, IN stood at $1,307 in 2022 and currently runs about $1,651, reflecting a 26.3% increase over the period. Census figures show median household income at $83,056 today, compared with $71,260 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 5.6% since 2021, moving from about 41,214 residents to roughly 43,511. College-educated residents now make up 28.6% of adults here, versus 26.4% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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Local insights

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About renting in ZIP 46140

Last updated: October 17, 2026

ZIP code 46140 covers Greenfield, IN. The median rent here is $1,651/mo as of October 2026. A 1-bedroom rents for a median of $1,180/mo. A 2-bedroom rents for a median of $1,370/mo.

At 24% of local median household income ($83,056/yr), ZIP 46140 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46140?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (about $32/hour full-time) to afford the median rent of $1,651/mo in ZIP 46140. The local median household income is $83,056/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 46140?

Rent in ZIP 46140 has risen 5.6% over the past year as of September 2026. That is the highest level since Zillow's records here began in May 2021.

When is the cheapest time to rent in ZIP 46140?

Asking rents in ZIP 46140 are usually lowest in December, about 1% below their yearly trend, and highest in July, about 0.9% above it. At today's median that is a gap of roughly $31 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 46140 compare to other ZIPs in Indiana?

ZIP 46140 is one of the pricier among Indiana ZIP codes for rent, ranking #35 of 139 at $1,651/mo. Over the year to September 2026, rent in ZIP 46140 changed +5.6%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.