ZIP Code · IN

ZIP 46320

Part of Hammond, IN

Pop. 14,353·Lake County·74th most expensive ZIP in Indiana

Median rent (all units)

$1,307/mo

Year-over-Year

+6.8%

Month-over-Month

Stable

vs US Median

-$625

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 46320 · $1,307

More affordable than 86% of US ZIP codes · National median $1,932/mo

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Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$820

1 BR

$930

2 BR

$1,130

3 BR

$1,380

4 BR+

$1,500

Research median

$1,130/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

Past year vs. the rest of Indiana

Rent in ZIP 46320 changed +6.8% 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 8 of the last 12 months.

What a typical income covers

30% of the median household income ($37,158) is $929 a month. That covers HUD's Fair Market Rent for up to a studio ($820); a 1-bedroom is $930.

Rank in Hammond

1st cheapest of 3 ZIP codes in Hammond.

Cheaper nearby

ZIP 46312, 4 miles away, rents for 20% less ($1,040/mo), about $3,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 46320. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,684/yr

At $1,307/mo median

Location

CityHammond

StateIN

CountyLake County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.8% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.8% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 46320 (Hammond, IN) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 13.2% of residents hold a bachelor's degree or higher.

Population

14,353

Median income

$37,158

Median age

32.6

Renters

58.8%

Age distribution

28.3%

25%

20.5%

13.3%

13%

Under 1828.3%

18–3425%

35–5420.5%

55–6413.3%

65+13%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

17.1%

48.6%

36%

White17.1%

Black48.6%

Hispanic36%

Asian1.2%

Education (25+)

18.5%

40.4%

27.8%

13.2%

No HS diploma18.5%

HS diploma40.4%

Some college27.8%

Bachelor's+13.2%

Housing tenure

41.2%

58.8%

Owner41.2%

Renter58.8%

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

2021 vs 2026

How ZIP 46320 in Hammond, IN has changed in 5 years

Income

$30,846 → $37,158

up 20.5%

Population

13,653 → 14,353

up 5.1%

Renter share

60.3% → 58.8%

-1.5 pts

Bachelor's+

10.4% → 13.2%

+2.8 pts

Median age

34.1 → 32.6

-1.5 yrs

Median household income grew from $30,846 to $37,158 between 2021 and 2024, a 20.5% shift. Headcount in the area went from 13,653 to 14,353 between 2021 and 2024, a 5.1% change. About 58.8% of households rent today, against 60.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 10.4% to 13.2%.

Community

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Local insights

Tips for renters in ZIP 46320

About renting in ZIP 46320

Last updated: October 17, 2026

ZIP code 46320 covers Hammond, IN. The median rent here is $1,307/mo as of October 2026. A 1-bedroom rents for a median of $930/mo. A 2-bedroom rents for a median of $1,130/mo.

At 42% of local median household income ($37,158/yr), ZIP 46320 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46320?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (about $25/hour full-time) to afford the median rent of $1,307/mo in ZIP 46320. The local median household income is $37,158/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 46320?

Rent in ZIP 46320 has risen 6.8% over the past year.

How does ZIP 46320 compare to other ZIPs in Indiana?

ZIP 46320 is in the middle among Indiana ZIP codes for rent, ranking #74 of 139 at $1,307/mo. Over the year to September 2026, rent in ZIP 46320 changed +6.8%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.