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ZIP Code · IN

ZIP 46203

Pop. 37,758·Marion County·49th most expensive ZIP in Indiana
Median rent (all units)
$1,536/mo
Year-over-Year
+7.6%
Month-over-Month
+1.3%
vs US Median
-$429
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 46203 · $1,536
More affordable than 71% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,000
1 BR
$1,140
2 BR
$1,320
3 BR
$1,710
4 BR+
$2,100
Research median
$1,320/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
$18,432/yr
At $1,536/mo median
Location
StateIN
CountyMarion County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.6% YoY, +1.3% MoM), not inventory.
Demographics

Who lives here

ZIP 46203 (Indianapolis, IN) is majority owner-occupied, has a median income below the national average, 28.4% of residents hold a bachelor's degree or higher.

Population
37,758
Median income
$57,393
Median age
34.5
Renters
42.2%
Age distribution
23%
27.9%
24.5%
12.9%
Under 1823%
18–3427.9%
35–5424.5%
55–6412.9%
65+11.6%
Gender
48.5%
51.5%
Male48.5%
Female51.5%
Race & ethnicity
68.8%
13.4%
13.8%
White68.8%
Black13.4%
Hispanic13.8%
Asian1.7%
Other2.3%
Education (25+)
18.4%
31.5%
21.7%
28.4%
No HS diploma18.4%
HS diploma31.5%
Some college21.7%
Bachelor's+28.4%
Housing tenure
57.8%
42.2%
Owner57.8%
Renter42.2%

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

2021 vs 2026

How ZIP 46203 in Indianapolis, IN has changed in 5 years

Rent
$1,025 → $1,536
up 49.9%
Income
$44,356 → $57,393
up 29.4%
Population
38,829 → 37,758
down 2.8%
Renter share
43.6% → 42.2%
-1.4 pts
Bachelor's+
22.2% → 28.4%
+6.2 pts
Median age
35 → 34.5
-0.5 yrs

The median rent in ZIP 46203 in Indianapolis, IN stood at $1,025 in 2021 and currently runs about $1,536, reflecting a 49.9% increase over the period. Census figures show median household income at $57,393 today, compared with $44,356 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 2.8% since 2021, moving from about 38,829 residents to roughly 37,758. College-educated residents now make up 28.4% of adults here, versus 22.2% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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Local insights

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About renting in ZIP 46203

Last updated: July 20, 2026

ZIP code 46203 covers Indianapolis, IN. The median rent here is $1,536/mo as of July 2026. A 1-bedroom rents for a median of $1,140/mo. A 2-bedroom rents for a median of $1,320/mo.

At 32% of local median household income ($57,393/yr), ZIP 46203 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46203?

As of July 20, 2026, the median monthly rent in ZIP 46203 (Indianapolis, IN) is $1,536. This is based on aggregated data from public sources and community submissions.

How does ZIP 46203 rent compare to the US average?

ZIP 46203's median rent of $1,536/mo is $429 (22%) below the US national median of $1,965/mo.

How does ZIP 46203 compare to other ZIPs in Indiana?

ZIP 46203 falls in the middle range for Indiana, ranking #49 out of 144 ZIPs at $1,536/mo.

How much income do you need to rent in ZIP 46203?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,536/mo in ZIP 46203. The local median household income is $57,393/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 46203?

Rent in ZIP 46203 has increased 7.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 46203 an affordable place to rent?

ZIP 46203 is considered moderate for renters. At $1,536/mo, rent takes approximately 32% of the local median household income ($57,393/yr). The standard benchmark is 30%. ZIP 46203 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 46203 residents rent vs. own?

According to Census data, approximately 42.2% of ZIP 46203 households are renters, while 57.8% are owner-occupied. ZIP 46203 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 46203 compare to the rest of Indianapolis?

ZIP 46203 is pricier than Indianapolis as a whole. At $1,536/mo, it's $125 above the Indianapolis citywide median of $1,411/mo.

When was rent data for ZIP 46203 last updated?

Rent data for ZIP 46203 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
32%
MODERATE

At $1,536/mo, rent takes ~32% of ZIP 46203's median household income ($57,393/yr). The standard benchmark is 30%.

ZIP 46203 32%Benchmark 30%
State income tax3.05%
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Schools nearby

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