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ZIP Code · IN

ZIP 46204

Pop. 11,400·Marion County·41st most expensive ZIP in Indiana
Median rent (all units)
$1,623/mo
Year-over-Year
+4.4%
Month-over-Month
+0.5%
vs US Median
-$342
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 46204 · $1,623
More affordable than 65% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,142
1 BR
$1,294
2 BR
$1,502
3 BR
$1,945
4 BR+
$2,381
Research median
$1,502/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
$19,476/yr
At $1,623/mo median
Location
StateIN
CountyMarion County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.4% YoY, +0.5% MoM), not inventory.
Demographics

Who lives here

ZIP 46204 (Indianapolis, IN) is majority renter-occupied, skews toward younger working-age adults, 63.1% of residents hold a bachelor's degree or higher.

Population
11,400
Median income
$86,396
Median age
30.8
Renters
85.9%
Age distribution
65%
20.4%
Under 181.5%
18–3465%
35–5420.4%
55–649.2%
65+3.9%
Gender
60.3%
39.7%
Male60.3%
Female39.7%
Race & ethnicity
67.5%
17.8%
White67.5%
Black17.8%
Hispanic7.4%
Asian4.4%
Other3%
Education (25+)
14.2%
12.7%
63.1%
No HS diploma10%
HS diploma14.2%
Some college12.7%
Bachelor's+63.1%
Housing tenure
14.1%
85.9%
Owner14.1%
Renter85.9%

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

2021 vs 2026

How ZIP 46204 in Indianapolis, IN has changed in 5 years

Rent
$1,400 → $1,623
up 15.9%
Income
$77,951 → $86,396
up 10.8%
Population
10,246 → 11,400
up 11.3%
Renter share
79% → 85.9%
+6.9 pts
Bachelor's+
59% → 63.1%
+4.1 pts
Median age
31.6 → 30.8
-0.8 yrs

Five years ago, renters in ZIP 46204 in Indianapolis, IN paid around $1,400 a month. That figure now sits near $1,623, up 15.9% from the 2021 baseline. Local incomes tracked alongside that move, going from a median of $77,951 in 2021 to $86,396 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 46204 in Indianapolis, IN adding about 1,154 residents over the five-year window, up 11.3% on net. The renter share has risen from 79% to 85.9%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 59% to 63.1% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 46204 in Indianapolis, IN market of 2021.

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Local insights

Tips for renters in ZIP 46204

About renting in ZIP 46204

Last updated: July 20, 2026

ZIP code 46204 covers Indianapolis, IN. The median rent here is $1,623/mo as of July 2026. A 1-bedroom rents for a median of $1,294/mo. A 2-bedroom rents for a median of $1,502/mo.

At 23% of local median household income ($86,396/yr), ZIP 46204 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46204?

As of July 20, 2026, the median monthly rent in ZIP 46204 (Indianapolis, IN) is $1,623. This is based on aggregated data from public sources and community submissions.

How does ZIP 46204 rent compare to the US average?

ZIP 46204's median rent of $1,623/mo is $342 (17%) below the US national median of $1,965/mo.

How does ZIP 46204 compare to other ZIPs in Indiana?

ZIP 46204 is one of the pricier ZIP codes in Indiana, ranking #41 out of 144 ZIPs tracked at $1,623/mo.

How much income do you need to rent in ZIP 46204?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (~$31/hour full-time) to afford the median rent of $1,623/mo in ZIP 46204. The local median household income is $86,396/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 46204?

Rent in ZIP 46204 has increased 4.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 46204 an affordable place to rent?

ZIP 46204 is considered very affordable for renters. At $1,623/mo, rent takes approximately 23% of the local median household income ($86,396/yr). The standard benchmark is 30%. ZIP 46204 falls comfortably within that range.

What percentage of ZIP 46204 residents rent vs. own?

According to Census data, approximately 85.9% of ZIP 46204 households are renters, while 14.1% are owner-occupied. With a majority renter population, ZIP 46204 has a strong rental market.

How does ZIP 46204 compare to the rest of Indianapolis?

ZIP 46204 is pricier than Indianapolis as a whole. At $1,623/mo, it's $212 above the Indianapolis citywide median of $1,411/mo.

When was rent data for ZIP 46204 last updated?

Rent data for ZIP 46204 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,623/mo, rent takes ~23% of ZIP 46204's median household income ($86,396/yr). The standard benchmark is 30%.

ZIP 46204 23%Benchmark 30%
State income tax3.05%
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Public schools near ZIP 46204 (Indianapolis, IN)

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