ZIP Code · IN

ZIP 46241

Part of Indianapolis, IN

Pop. 32,565·Marion County·64th most expensive ZIP in Indiana

Median rent (all units)

$1,369/mo

Year-over-Year

+0.8%

Month-over-Month

Stable

vs US Median

-$563

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 46241 · $1,369

More affordable than 82% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,070

1 BR

$1,210

2 BR

$1,410

3 BR

$1,830

4 BR+

$2,240

Research median

$1,410/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

Compared with the peak

Rent in ZIP 46241 is 2% below its high of $1,397 in May 2026, at $1,369 as of September 2026.

Past year vs. the rest of Indiana

Rent in ZIP 46241 changed +0.8% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($53,653) is $1,341 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,210); a 2-bedroom is $1,410.

Rank in Indianapolis

14th cheapest of 30 ZIP codes in Indianapolis.

Cheaper nearby

ZIP 46214, 4 miles away, rents for 11% less ($1,222/mo), about $1,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 46241. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,428/yr

At $1,369/mo median

Location

CityIndianapolis

StateIN

CountyMarion County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.8% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 46241 (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, 15.4% of residents hold a bachelor's degree or higher.

Population

32,565

Median income

$53,653

Median age

Renters

46%

Age distribution

32.6%

22%

25.5%

Under 1832.6%

18–3422%

35–5425.5%

55–649.9%

65+10%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

54.7%

15%

29.3%

White54.7%

Black15%

Hispanic29.3%

Asian0.5%

Other0.6%

Education (25+)

26%

38.2%

20.4%

15.4%

No HS diploma26%

HS diploma38.2%

Some college20.4%

Bachelor's+15.4%

Housing tenure

54%

46%

Owner54%

Renter46%

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

2021 vs 2026

How ZIP 46241 in Indianapolis, IN has changed in 5 years

Rent

$935 → $1,369

up 46.4%

Income

$44,543 → $53,653

up 20.5%

Population

33,756 → 32,565

down 3.5%

Renter share

42.9% → 46%

+3.1 pts

Bachelor's+

13% → 15.4%

+2.4 pts

Median age

30.5 → 31

+0.5 yrs

Rent in ZIP 46241 in Indianapolis, IN has increased 46.4% since 2021, going from about $935 per month to roughly $1,369 today. Census figures show median household income at $53,653 today, compared with $44,543 five years earlier. Rent outpaced income growth by roughly 25.9 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 33,756 to 32,565 between 2021 and 2024, a 3.5% change. About 46% of households rent today, against 42.9% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 13% to 15.4%. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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Local insights

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About renting in ZIP 46241

Last updated: October 17, 2026

ZIP code 46241 covers Indianapolis, IN. The median rent here is $1,369/mo as of October 2026. A 1-bedroom rents for a median of $1,210/mo. A 2-bedroom rents for a median of $1,410/mo.

At 31% of local median household income ($53,653/yr), ZIP 46241 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46241?

To keep rent at or below 30% of gross income, you would need to earn at least $55,000/year (about $26/hour full-time) to afford the median rent of $1,369/mo in ZIP 46241. The local median household income is $53,653/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 46241?

Rent in ZIP 46241 has risen 0.8% over the past year as of September 2026. It sits 2% below its high of $1,397 in May 2026.

How does ZIP 46241 compare to other ZIPs in Indiana?

ZIP 46241 is in the middle among Indiana ZIP codes for rent, ranking #64 of 139 at $1,369/mo. Over the year to September 2026, rent in ZIP 46241 changed +0.8%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.