ZIP Code · IN

ZIP 46323

Part of Hammond, IN

Pop. 23,047·Lake County·43rd most expensive ZIP in Indiana

Median rent (all units)

$1,579/mo

Year-over-Year

+5.5%

Month-over-Month

-0.6%

vs US Median

-$353

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 46323 · $1,579

More affordable than 67% 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

$1,030

1 BR

$1,170

2 BR

$1,420

3 BR

$1,740

4 BR+

$1,880

Research median

$1,420/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 46323 changed +5.5% 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 9 of the last 12 months.

What a typical income covers

30% of the median household income ($59,688) is $1,492 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,420); a 3-bedroom is $1,740.

Rank in Hammond

2nd cheapest of 3 ZIP codes in Hammond.

Cheaper nearby

ZIP 46312, 4 miles away, rents for 34% less ($1,040/mo), about $6,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 46323. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,948/yr

At $1,579/mo median

Location

CityHammond

StateIN

CountyLake County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.5% YoY, -0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 46323 (Hammond, IN) is majority owner-occupied, has a median income below the national average, 18.9% of residents hold a bachelor's degree or higher.

Population

23,047

Median income

$59,688

Median age

35.4

Renters

32.5%

Age distribution

22.4%

26.7%

24.7%

12.6%

13.7%

Under 1822.4%

18–3426.7%

35–5424.7%

55–6412.6%

65+13.7%

Gender

48.1%

51.9%

Male48.1%

Female51.9%

Race & ethnicity

41.3%

20.2%

36.8%

White41.3%

Black20.2%

Hispanic36.8%

Asian2.5%

Education (25+)

15.9%

36.4%

28.8%

18.9%

No HS diploma15.9%

HS diploma36.4%

Some college28.8%

Bachelor's+18.9%

Housing tenure

67.5%

32.5%

Owner67.5%

Renter32.5%

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

2021 vs 2026

How ZIP 46323 in Hammond, IN has changed in 5 years

Income

$53,007 → $59,688

up 12.6%

Population

23,690 → 23,047

down 2.7%

Renter share

34.4% → 32.5%

-1.9 pts

Bachelor's+

12.5% → 18.9%

+6.4 pts

Median age

36.1 → 35.4

-0.7 yrs

Household income in the area moved from $53,007 to $59,688 across the same window, up 12.6% versus 2021. The population has contracted by 2.7% since 2021, moving from about 23,690 residents to roughly 23,047. Renters now make up 32.5% of households, compared with 34.4% five years ago. College-educated residents now make up 18.9% of adults here, versus 12.5% in 2021.

Community

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Local insights

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About renting in ZIP 46323

Last updated: October 17, 2026

ZIP code 46323 covers Hammond, IN. The median rent here is $1,579/mo as of October 2026. A 1-bedroom rents for a median of $1,170/mo. A 2-bedroom rents for a median of $1,420/mo.

At 32% of local median household income ($59,688/yr), ZIP 46323 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46323?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (about $30/hour full-time) to afford the median rent of $1,579/mo in ZIP 46323. The local median household income is $59,688/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 46323?

Rent in ZIP 46323 has risen 5.5% over the past year.

How does ZIP 46323 compare to other ZIPs in Indiana?

ZIP 46323 is one of the pricier among Indiana ZIP codes for rent, ranking #43 of 139 at $1,579/mo. Over the year to September 2026, rent in ZIP 46323 changed +5.5%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.