ZIP 46229
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 46229 usually run 1.2% below trend in December and 1.1% above it in July, about $39 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 46229 is at its highest level since Zillow's records here began in May 2016.
Rent in ZIP 46229 changed +6.3% 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 46229 rose 42.3% while median household income rose 17.2% ($52,376 to $61,388). Rent outpaced income.
Rent in ZIP 46229 is 53.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 4 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($61,388) is $1,535 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,300); a 3-bedroom is $1,680.
24th cheapest of 30 ZIP codes in Indianapolis.
ZIP 46219, 4 miles away, rents for 37% less ($1,053/mo), about $7,500 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 46229. 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 46229 (Indianapolis, IN) is majority owner-occupied, has a median income below the national average, 24% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 46229 in Indianapolis, IN has changed in 5 years
Across the past five years, the going rent in ZIP 46229 in Indianapolis, IN has shifted from $1,184 to $1,678, up 41.7% since 2021. Median household income climbed from $60,435 to $61,388 between 2021 and 2024, a 1.6% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 46229 in Indianapolis, IN adding about 395 residents over the five-year window, up 1.4% on net. Bachelor's-degree-or-higher attainment moved from 27% to 24% across the same window. Taken together, the five-year picture in ZIP 46229 in Indianapolis, IN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 46229
Last updated: October 17, 2026
ZIP code 46229 covers Indianapolis, IN. The median rent here is $1,678/mo as of October 2026. A 1-bedroom rents for a median of $1,120/mo. A 2-bedroom rents for a median of $1,300/mo.
At 33% of local median household income ($61,388/yr), ZIP 46229 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.3% over the past year.
Frequently asked questions
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How does ZIP 46229 compare to the rest of Indianapolis?
At $1,678/mo, rent takes ~33% of ZIP 46229's median household income ($61,388/yr). The standard benchmark is 30%.
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