ZIP 46235
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12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 46235 usually run 0.9% below trend in January and 0.7% above it in August, about $28 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 46235 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 46235 changed +11.8% 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 46235 rose 46.7% while median household income rose 52.8% ($38,572 to $58,951). Income kept ahead of rent.
Rent in ZIP 46235 is 63.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 9 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($58,951) is $1,474 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,250); a 3-bedroom is $1,620.
27th cheapest of 30 ZIP codes in Indianapolis.
ZIP 46216, 3 miles away, rents for 16% less ($1,491/mo), about $3,500 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 46235. 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 46235 (Indianapolis, IN) is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 20.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 46235 in Indianapolis, IN has changed in 5 years
Compared with 2021, rent in ZIP 46235 in Indianapolis, IN has increased by $610 per month, settling near $1,781 after starting the period at $1,171. Median household income grew from $48,699 to $58,951 between 2021 and 2024, a 21.1% shift. Rent outpaced income growth by roughly 31.0 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 33,715 to 36,317 between 2021 and 2024, a 7.7% change. About 46.5% of households rent today, against 50.7% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 15.4% to 20.6%. Taken together, the five-year picture in ZIP 46235 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 46235
Last updated: October 17, 2026
ZIP code 46235 covers Indianapolis, IN. The median rent here is $1,781/mo as of October 2026. A 1-bedroom rents for a median of $1,080/mo. A 2-bedroom rents for a median of $1,250/mo.
At 36% of local median household income ($58,951/yr), ZIP 46235 ranks as moderate compared to the national benchmark of 30%. Rents have increased 11.8% over the past year.
Frequently asked questions
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How does ZIP 46235 compare to the rest of Indianapolis?
At $1,781/mo, rent takes ~36% of ZIP 46235's median household income ($58,951/yr). The standard benchmark is 30%.
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