ZIP 46205
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 46205 usually run 0.9% below trend in January and 1.2% above it in July, about $27 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 46205 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 46205 changed +4.5% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.
From 2019 to 2024, rent in ZIP 46205 rose 47.8% while median household income rose 52.1% ($47,623 to $72,417). Income kept ahead of rent.
Rent in ZIP 46205 is 58.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($72,417) is $1,810 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,500); a 3-bedroom is $1,940.
10th cheapest of 30 ZIP codes in Indianapolis.
ZIP 46219, 6 miles away, rents for 19% less ($1,053/mo), about $2,900 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 46205. 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.
Who lives here
ZIP 46205 (Indianapolis, IN) is roughly split between renters and owners, 53.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 46205 in Indianapolis, IN has changed in 5 years
Rent in ZIP 46205 in Indianapolis, IN has increased 39.8% since 2021, going from about $927 per month to roughly $1,296 today. Household income in the area moved from $56,563 to $72,417 across the same window, up 28.0% versus 2021. Rent outpaced income growth by roughly 11.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 46.3% of households rent today, against 47.9% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 47.8% to 53.3%. Reading these numbers side by side helps frame whether current listings in ZIP 46205 in Indianapolis, IN look reasonable against where the market sat half a decade ago.
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Tips for renters in ZIP 46205
Last updated: October 17, 2026
ZIP code 46205 covers Indianapolis, IN. The median rent here is $1,296/mo as of October 2026. A 1-bedroom rents for a median of $1,290/mo. A 2-bedroom rents for a median of $1,500/mo.
At 21% of local median household income ($72,417/yr), ZIP 46205 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.5% over the past year.
Frequently asked questions
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How does ZIP 46205 compare to other ZIPs in Indiana?
How does ZIP 46205 compare to the rest of Indianapolis?
At $1,296/mo, rent takes ~21% of ZIP 46205's median household income ($72,417/yr). The standard benchmark is 30%.
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