ZIP Code · IN

ZIP 46224

Part of Speedway, IN

Pop. 40,228·Marion County·110th most expensive ZIP in Indiana

Median rent (all units)

$1,111/mo

Year-over-Year

-2.8%

Month-over-Month

-1.8%

vs US Median

-$821

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 46224 · $1,111

More affordable than 95% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,040

1 BR

$1,180

2 BR

$1,370

3 BR

$1,770

4 BR+

$2,170

Research median

$1,370/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

June. Asking rents in ZIP 46224 usually run 2% below trend in June and 1.7% above it in November, about $41 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 46224 is 4.1% below its high of $1,159 in January 2026, at $1,111 as of September 2026.

Past year vs. the rest of Indiana

Rent in ZIP 46224 changed -2.8% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has fallen 3 months in a row, and rose in 4 of the last 12 months.

What a typical income covers

30% of the median household income ($55,986) is $1,400 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,370); a 3-bedroom is $1,770.

From Zillow's monthly rent index (ZORI) for ZIP 46224. 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.

Annual cost

$13,332/yr

At $1,111/mo median

Location

CitySpeedway

StateIN

CountyMarion County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 2.8% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-2.8% YoY, -1.8% MoM), not inventory.

Demographics

Who lives here

ZIP 46224 (Speedway, IN) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 23.9% of residents hold a bachelor's degree or higher.

Population

40,228

Median income

$55,986

Median age

32.1

Renters

63.7%

Age distribution

28.9%

26.1%

26.8%

Under 1828.9%

18–3426.1%

35–5426.8%

55–649.6%

65+8.6%

Gender

47.8%

52.2%

Male47.8%

Female52.2%

Race & ethnicity

32.7%

44.1%

20.2%

White32.7%

Black44.1%

Hispanic20.2%

Asian1.8%

Other1.2%

Education (25+)

15.4%

35.2%

25.5%

23.9%

No HS diploma15.4%

HS diploma35.2%

Some college25.5%

Bachelor's+23.9%

Housing tenure

36.3%

63.7%

Owner36.3%

Renter63.7%

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

2021 vs 2026

How ZIP 46224 in Speedway, IN has changed in 5 years

Rent

$848 → $1,111

up 31.0%

Income

$45,668 → $55,986

up 22.6%

Population

39,490 → 40,228

up 1.9%

Renter share

61.8% → 63.7%

+1.9 pts

Bachelor's+

22.8% → 23.9%

+1.1 pts

Rent in ZIP 46224 in Speedway, IN has increased 31.0% since 2021, going from about $848 per month to roughly $1,111 today. On the earnings side, the typical household in ZIP 46224 in Speedway, IN now reports about $55,986, up from $45,668 in 2021. Rent outpaced income growth by roughly 8.4 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 39,490 to 40,228 between 2021 and 2024, a 1.9% change. About 63.7% of households rent today, against 61.8% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 46224 in Speedway, IN reflects that arc in its own way.

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About renting in ZIP 46224

Last updated: October 17, 2026

ZIP code 46224 covers Speedway, IN. The median rent here is $1,111/mo as of October 2026. A 1-bedroom rents for a median of $1,180/mo. A 2-bedroom rents for a median of $1,370/mo.

At 24% of local median household income ($55,986/yr), ZIP 46224 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 2.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46224?

To keep rent at or below 30% of gross income, you would need to earn at least $44,000/year (about $21/hour full-time) to afford the median rent of $1,111/mo in ZIP 46224. The local median household income is $55,986/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 46224?

Rent in ZIP 46224 has fallen 2.8% over the past year as of September 2026. It sits 4.1% below its high of $1,159 in January 2026.

When is the cheapest time to rent in ZIP 46224?

Asking rents in ZIP 46224 are usually lowest in June, about 2% below their yearly trend, and highest in November, about 1.7% above it. At today's median that is a gap of roughly $41 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 46224 compare to other ZIPs in Indiana?

ZIP 46224 is one of the more affordable among Indiana ZIP codes for rent, ranking #110 of 139 at $1,111/mo. Over the year to September 2026, rent in ZIP 46224 changed -2.8%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.