ZIP 46254
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 46254 usually run 0.6% below trend in February and 0.7% above it in August, about $16 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 46254 is 1.7% below its high of $1,251 in March 2026, at $1,230 as of September 2026.
Rent in ZIP 46254 changed +0.7% 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 46254 rose 49.7% while median household income rose 34.5% ($44,836 to $60,287). Rent outpaced income.
Rent in ZIP 46254 is 47% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 9 of the last 12 months.
30% of the median household income ($60,287) is $1,507 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,440); a 3-bedroom is $1,860.
8th cheapest of 30 ZIP codes in Indianapolis.
From Zillow's monthly rent index (ZORI) for ZIP 46254. 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 46254 (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, 31.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 46254 in Indianapolis, IN has changed in 5 years
Across the past five years, the going rent in ZIP 46254 in Indianapolis, IN has shifted from $901 to $1,230, up 36.5% since 2021. Median household income climbed from $51,702 to $60,287 between 2021 and 2024, a 16.6% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has eased from 55% to 50.5%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in ZIP 46254 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 46254
Last updated: October 17, 2026
ZIP code 46254 covers Indianapolis, IN. The median rent here is $1,230/mo as of October 2026. A 1-bedroom rents for a median of $1,240/mo. A 2-bedroom rents for a median of $1,440/mo.
At 24% of local median household income ($60,287/yr), ZIP 46254 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.7% over the past year.
Frequently asked questions
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How does ZIP 46254 compare to other ZIPs in Indiana?
How does ZIP 46254 compare to the rest of Indianapolis?
At $1,230/mo, rent takes ~24% of ZIP 46254's median household income ($60,287/yr). The standard benchmark is 30%.
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