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ZIP Code · IN

ZIP 46254

Pop. 40,674·Marion County·75th most expensive ZIP in Indiana
Median rent (all units)
$1,345/mo
Year-over-Year
+8.7%
Month-over-Month
-1.3%
vs US Median
-$620
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 46254 · $1,345
More affordable than 84% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,090
1 BR
$1,240
2 BR
$1,440
3 BR
$1,860
4 BR+
$2,290
Research median
$1,440/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
$16,140/yr
At $1,345/mo median
Location
StateIN
CountyMarion County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 8.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+8.7% YoY, -1.3% MoM), not inventory.
Demographics

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.

Population
40,674
Median income
$60,287
Median age
33.2
Renters
50.5%
Age distribution
26.4%
26.3%
25.4%
12.1%
Under 1826.4%
18–3426.3%
35–5425.4%
55–649.8%
65+12.1%
Gender
46.4%
53.6%
Male46.4%
Female53.6%
Race & ethnicity
21.5%
54.6%
18.9%
White21.5%
Black54.6%
Hispanic18.9%
Asian2.2%
Other2.8%
Education (25+)
12.5%
23.5%
32.7%
31.3%
No HS diploma12.5%
HS diploma23.5%
Some college32.7%
Bachelor's+31.3%
Housing tenure
49.5%
50.5%
Owner49.5%
Renter50.5%

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

2021 vs 2026

How ZIP 46254 in Indianapolis, IN has changed in 5 years

Rent
$959 → $1,345
up 40.3%
Income
$51,702 → $60,287
up 16.6%
Population
40,540 → 40,674
up 0.3%
Renter share
55% → 50.5%
-4.5 pts
Bachelor's+
31.1% → 31.3%
+0.2 pts
Median age
31.6 → 33.2
+1.6 yrs

Across the past five years, the going rent in ZIP 46254 in Indianapolis, IN has shifted from $959 to $1,345, up 40.3% 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.

Community

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Local insights

Tips for renters in ZIP 46254

About renting in ZIP 46254

Last updated: July 20, 2026

ZIP code 46254 covers Indianapolis, IN. The median rent here is $1,345/mo as of July 2026. A 1-bedroom rents for a median of $1,240/mo. A 2-bedroom rents for a median of $1,440/mo.

At 27% of local median household income ($60,287/yr), ZIP 46254 ranks as affordable compared to the national benchmark of 30%. Rents have increased 8.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 46254?

As of July 20, 2026, the median monthly rent in ZIP 46254 (Indianapolis, IN) is $1,345. This is based on aggregated data from public sources and community submissions.

How does ZIP 46254 rent compare to the US average?

ZIP 46254's median rent of $1,345/mo is $620 (32%) below the US national median of $1,965/mo.

How does ZIP 46254 compare to other ZIPs in Indiana?

ZIP 46254 falls in the middle range for Indiana, ranking #75 out of 144 ZIPs at $1,345/mo.

How much income do you need to rent in ZIP 46254?

To keep rent at or below 30% of gross income, you would need to earn at least $54,000/year (~$26/hour full-time) to afford the median rent of $1,345/mo in ZIP 46254. The local median household income is $60,287/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 46254?

Rent in ZIP 46254 has increased 8.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 46254 an affordable place to rent?

ZIP 46254 is considered affordable for renters. At $1,345/mo, rent takes approximately 27% of the local median household income ($60,287/yr). The standard benchmark is 30%. ZIP 46254 falls comfortably within that range.

What percentage of ZIP 46254 residents rent vs. own?

According to Census data, approximately 50.5% of ZIP 46254 households are renters, while 49.5% are owner-occupied. With a majority renter population, ZIP 46254 has a strong rental market.

How does ZIP 46254 compare to the rest of Indianapolis?

ZIP 46254 is more affordable than Indianapolis overall. At $1,345/mo, it's $66 below the Indianapolis citywide median of $1,411/mo.

When was rent data for ZIP 46254 last updated?

Rent data for ZIP 46254 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
27%
AFFORDABLE

At $1,345/mo, rent takes ~27% of ZIP 46254's median household income ($60,287/yr). The standard benchmark is 30%.

ZIP 46254 27%Benchmark 30%
State income tax3.05%
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