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ZIP Code · IN

ZIP 46231

Pop. 10,371·Marion County·5th most expensive ZIP in Indiana
Median rent (all units)
$2,075/mo
Year-over-Year
Stable
Month-over-Month
-2.9%
vs US Median
+$110
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 46231 · $2,075
More expensive than 64% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,550
1 BR
$1,750
2 BR
$2,040
3 BR
$2,640
4 BR+
$3,240
Research median
$2,040/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
$24,900/yr
At $2,075/mo median
Location
StateIN
CountyMarion County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -2.9% MoM), not inventory.
Demographics

Who lives here

ZIP 46231 (Indianapolis, IN) is majority owner-occupied, has a large share of families with children, 24.5% of residents hold a bachelor's degree or higher.

Population
10,371
Median income
$71,825
Median age
40.4
Renters
21.3%
Age distribution
26.6%
17.2%
31.8%
13%
Under 1826.6%
18–3417.2%
35–5431.8%
55–6411.3%
65+13%
Gender
52.5%
47.5%
Male52.5%
Female47.5%
Race & ethnicity
44.8%
28.1%
14.1%
White44.8%
Black28.1%
Hispanic9.2%
Asian14.1%
Other3.9%
Education (25+)
16.1%
35.9%
23.5%
24.5%
No HS diploma16.1%
HS diploma35.9%
Some college23.5%
Bachelor's+24.5%
Housing tenure
78.7%
21.3%
Owner78.7%
Renter21.3%

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

2021 vs 2026

How ZIP 46231 in Indianapolis, IN has changed in 5 years

Income
$62,739 → $71,825
up 14.5%
Population
10,824 → 10,371
down 4.2%
Renter share
17.6% → 21.3%
+3.7 pts
Bachelor's+
21.7% → 24.5%
+2.8 pts
Median age
36.9 → 40.4
+3.5 yrs

Household income in the area moved from $62,739 to $71,825 across the same window, up 14.5% versus 2021. The population has contracted by 4.2% since 2021, moving from about 10,824 residents to roughly 10,371. Renters now make up 21.3% of households, compared with 17.6% five years ago. College-educated residents now make up 24.5% of adults here, versus 21.7% in 2021.

Community

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Local insights

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About renting in ZIP 46231

Last updated: July 20, 2026

ZIP code 46231 covers Indianapolis, IN. The median rent here is $2,075/mo as of July 2026. A 1-bedroom rents for a median of $1,750/mo. A 2-bedroom rents for a median of $2,040/mo.

At 35% of local median household income ($71,825/yr), ZIP 46231 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46231?

As of July 20, 2026, the median monthly rent in ZIP 46231 (Indianapolis, IN) is $2,075. This is based on aggregated data from public sources and community submissions.

How does ZIP 46231 rent compare to the US average?

ZIP 46231's median rent of $2,075/mo is $110 (6%) above the US national median of $1,965/mo.

How does ZIP 46231 compare to other ZIPs in Indiana?

ZIP 46231 is one of the pricier ZIP codes in Indiana, ranking #5 out of 144 ZIPs tracked at $2,075/mo.

How much income do you need to rent in ZIP 46231?

To keep rent at or below 30% of gross income, you would need to earn at least $83,000/year (~$40/hour full-time) to afford the median rent of $2,075/mo in ZIP 46231. The local median household income is $71,825/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 46231?

Rent in ZIP 46231 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 46231 an affordable place to rent?

ZIP 46231 is considered moderate for renters. At $2,075/mo, rent takes approximately 35% of the local median household income ($71,825/yr). The standard benchmark is 30%. ZIP 46231 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 46231 residents rent vs. own?

According to Census data, approximately 21.3% of ZIP 46231 households are renters, while 78.7% are owner-occupied. ZIP 46231 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 46231 compare to the rest of Indianapolis?

ZIP 46231 is pricier than Indianapolis as a whole. At $2,075/mo, it's $664 above the Indianapolis citywide median of $1,411/mo.

When was rent data for ZIP 46231 last updated?

Rent data for ZIP 46231 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
35%
MODERATE

At $2,075/mo, rent takes ~35% of ZIP 46231's median household income ($71,825/yr). The standard benchmark is 30%.

ZIP 46231 35%Benchmark 30%
State income tax3.05%
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Schools nearby

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