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ZIP Code · IN

ZIP 46221

Pop. 27,027·Marion County·65th most expensive ZIP in Indiana
Median rent (all units)
$1,418/mo
Year-over-Year
-8.8%
Month-over-Month
-5.0%
vs US Median
-$547
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 46221 · $1,418
More affordable than 79% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,090
1 BR
$1,240
2 BR
$1,440
3 BR
$1,860
4 BR+
$2,290
Research median
$1,440/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
$17,016/yr
At $1,418/mo median
Location
StateIN
CountyMarion County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 8.8% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-8.8% YoY, -5.0% MoM), not inventory.
Demographics

Who lives here

ZIP 46221 (Indianapolis, IN) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 16% of residents hold a bachelor's degree or higher.

Population
27,027
Median income
$65,280
Median age
34.5
Renters
38.2%
Age distribution
26.2%
24.9%
24.7%
12.7%
Under 1826.2%
18–3424.9%
35–5424.7%
55–6412.7%
65+11.4%
Gender
50.1%
49.9%
Male50.1%
Female49.9%
Race & ethnicity
68.1%
15%
13.2%
White68.1%
Black15%
Hispanic13.2%
Other3.3%
Education (25+)
15.6%
36.3%
32.1%
16%
No HS diploma15.6%
HS diploma36.3%
Some college32.1%
Bachelor's+16%
Housing tenure
61.8%
38.2%
Owner61.8%
Renter38.2%

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

2021 vs 2026

How ZIP 46221 in Indianapolis, IN has changed in 5 years

Rent
$1,132 → $1,418
up 25.3%
Income
$55,639 → $65,280
up 17.3%
Population
27,018 → 27,027
up 0.0%
Renter share
37.2% → 38.2%
+1.0 pts
Bachelor's+
15.3% → 16%
+0.7 pts

The median rent in ZIP 46221 in Indianapolis, IN stood at $1,132 in 2021 and currently runs about $1,418, reflecting a 25.3% increase over the period. On the earnings side, the typical household in ZIP 46221 in Indianapolis, IN now reports about $65,280, up from $55,639 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 46221 in Indianapolis, IN reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 46221

Last updated: July 20, 2026

ZIP code 46221 covers Indianapolis, IN. The median rent here is $1,418/mo as of July 2026. A 1-bedroom rents for a median of $1,240/mo. A 2-bedroom rents for a median of $1,440/mo.

At 26% of local median household income ($65,280/yr), ZIP 46221 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 8.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46221?

As of July 20, 2026, the median monthly rent in ZIP 46221 (Indianapolis, IN) is $1,418. This is based on aggregated data from public sources and community submissions.

How does ZIP 46221 rent compare to the US average?

ZIP 46221's median rent of $1,418/mo is $547 (28%) below the US national median of $1,965/mo.

How does ZIP 46221 compare to other ZIPs in Indiana?

ZIP 46221 falls in the middle range for Indiana, ranking #65 out of 144 ZIPs at $1,418/mo.

How much income do you need to rent in ZIP 46221?

To keep rent at or below 30% of gross income, you would need to earn at least $57,000/year (~$27/hour full-time) to afford the median rent of $1,418/mo in ZIP 46221. The local median household income is $65,280/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 46221?

Rent in ZIP 46221 has decreased 8.8% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 46221 an affordable place to rent?

ZIP 46221 is considered affordable for renters. At $1,418/mo, rent takes approximately 26% of the local median household income ($65,280/yr). The standard benchmark is 30%. ZIP 46221 falls comfortably within that range.

What percentage of ZIP 46221 residents rent vs. own?

According to Census data, approximately 38.2% of ZIP 46221 households are renters, while 61.8% are owner-occupied. ZIP 46221 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 46221 compare to the rest of Indianapolis?

ZIP 46221 is pricier than Indianapolis as a whole. At $1,418/mo, it's $7 above the Indianapolis citywide median of $1,411/mo.

When was rent data for ZIP 46221 last updated?

Rent data for ZIP 46221 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $1,418/mo, rent takes ~26% of ZIP 46221's median household income ($65,280/yr). The standard benchmark is 30%.

ZIP 46221 26%Benchmark 30%
State income tax3.05%
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Schools nearby

Public schools near ZIP 46221 (Indianapolis, IN)

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