ZIP 46221
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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 46221 usually run 1% below trend in January and 0.5% above it in August, about $21 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 46221 is at its highest level since Zillow's records here began in March 2015.
Rent in ZIP 46221 changed +1.5% 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 46221 rose 45.6% while median household income rose 28.2% ($50,911 to $65,280). Rent outpaced income.
Rent in ZIP 46221 is 53.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($65,280) is $1,632 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,440); a 3-bedroom is $1,860.
15th cheapest of 30 ZIP codes in Indianapolis.
ZIP 46222, 7 miles away, rents for 13% less ($1,208/mo), about $2,200 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 46221. 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 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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 46221 in Indianapolis, IN has changed in 5 years
The median rent in ZIP 46221 in Indianapolis, IN stood at $978 in 2021 and currently runs about $1,389, reflecting a 42.0% 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.
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Tips for renters in ZIP 46221
Last updated: October 17, 2026
ZIP code 46221 covers Indianapolis, IN. The median rent here is $1,389/mo as of October 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 increased 1.5% over the past year.
Frequently asked questions
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How does ZIP 46221 compare to other ZIPs in Indiana?
How does ZIP 46221 compare to the rest of Indianapolis?
At $1,389/mo, rent takes ~26% of ZIP 46221's median household income ($65,280/yr). The standard benchmark is 30%.
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