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ZIP Code · IN

ZIP 46227

Pop. 57,587·Marion County·81st most expensive ZIP in Indiana
Median rent (all units)
$1,298/mo
Year-over-Year
+2.2%
Month-over-Month
-3.3%
vs US Median
-$667
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 46227 · $1,298
More affordable than 87% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,000
1 BR
$1,140
2 BR
$1,320
3 BR
$1,710
4 BR+
$2,100
Research median
$1,320/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
$15,576/yr
At $1,298/mo median
Location
StateIN
CountyMarion County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (up only 2.2% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+2.2% YoY, -3.3% MoM), not inventory.
Demographics

Who lives here

ZIP 46227 (Indianapolis, IN) is majority renter-occupied, has a median income below the national average, 21.5% of residents hold a bachelor's degree or higher.

Population
57,587
Median income
$53,629
Median age
32.6
Renters
55.1%
Age distribution
24.3%
29.3%
21.8%
14.3%
Under 1824.3%
18–3429.3%
35–5421.8%
55–6410.3%
65+14.3%
Gender
47.6%
52.4%
Male47.6%
Female52.4%
Race & ethnicity
65%
12.4%
White65%
Black10.8%
Hispanic10.5%
Asian12.4%
Other1.3%
Education (25+)
16.6%
34%
27.9%
21.5%
No HS diploma16.6%
HS diploma34%
Some college27.9%
Bachelor's+21.5%
Housing tenure
44.9%
55.1%
Owner44.9%
Renter55.1%

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

2021 vs 2026

How ZIP 46227 in Indianapolis, IN has changed in 5 years

Income
$47,541 → $53,629
up 12.8%
Population
57,359 → 57,587
up 0.4%
Renter share
52.5% → 55.1%
+2.6 pts
Bachelor's+
20.8% → 21.5%
+0.7 pts
Median age
33.6 → 32.6
-1.0 yrs

Census figures show median household income at $53,629 today, compared with $47,541 five years earlier. Renters now make up 55.1% of households, compared with 52.5% five years ago.

Community

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Local insights

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About renting in ZIP 46227

Last updated: July 20, 2026

ZIP code 46227 covers Indianapolis, IN. The median rent here is $1,298/mo as of July 2026. A 1-bedroom rents for a median of $1,140/mo. A 2-bedroom rents for a median of $1,320/mo.

At 29% of local median household income ($53,629/yr), ZIP 46227 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46227?

As of July 20, 2026, the median monthly rent in ZIP 46227 (Indianapolis, IN) is $1,298. This is based on aggregated data from public sources and community submissions.

How does ZIP 46227 rent compare to the US average?

ZIP 46227's median rent of $1,298/mo is $667 (34%) below the US national median of $1,965/mo.

How does ZIP 46227 compare to other ZIPs in Indiana?

ZIP 46227 falls in the middle range for Indiana, ranking #81 out of 144 ZIPs at $1,298/mo.

How much income do you need to rent in ZIP 46227?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (~$25/hour full-time) to afford the median rent of $1,298/mo in ZIP 46227. The local median household income is $53,629/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 46227?

Rent in ZIP 46227 has increased 2.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 46227 an affordable place to rent?

ZIP 46227 is considered affordable for renters. At $1,298/mo, rent takes approximately 29% of the local median household income ($53,629/yr). The standard benchmark is 30%. ZIP 46227 falls comfortably within that range.

What percentage of ZIP 46227 residents rent vs. own?

According to Census data, approximately 55.1% of ZIP 46227 households are renters, while 44.9% are owner-occupied. With a majority renter population, ZIP 46227 has a strong rental market.

How does ZIP 46227 compare to the rest of Indianapolis?

ZIP 46227 is more affordable than Indianapolis overall. At $1,298/mo, it's $113 below the Indianapolis citywide median of $1,411/mo.

When was rent data for ZIP 46227 last updated?

Rent data for ZIP 46227 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
29%
AFFORDABLE

At $1,298/mo, rent takes ~29% of ZIP 46227's median household income ($53,629/yr). The standard benchmark is 30%.

ZIP 46227 29%Benchmark 30%
State income tax3.05%
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Schools nearby

Public schools near ZIP 46227 (Indianapolis, IN)

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