ZIP Code · IN

ZIP 46385

Part of Valparaiso, IN

Pop. 40,856·Porter County·36th most expensive ZIP in Indiana

Median rent (all units)

$1,636/mo

Year-over-Year

-9.1%

Month-over-Month

+1.5%

vs US Median

-$296

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 46385 · $1,636

More affordable than 63% of US ZIP codes · National median $1,932/mo

Rent check

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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

$1,470

3 BR

$1,800

4 BR+

$1,950

Research median

$1,470/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 46385 changed -9.1% 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 ($98,957) is $2,474 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,950).

Cheaper nearby

ZIP 46383, 6 miles away, rents for 16% less ($1,370/mo), about $3,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 46385. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,632/yr

At $1,636/mo median

Location

CityValparaiso

StateIN

CountyPorter County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 9.1% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-9.1% YoY, +1.5% MoM), not inventory.

Demographics

Who lives here

ZIP 46385 (Valparaiso, IN) is majority owner-occupied, has a median income above the national average, 35.1% of residents hold a bachelor's degree or higher.

Population

40,856

Median income

$98,957

Median age

43.2

Renters

13.4%

Age distribution

21.3%

18.5%

25.7%

14.9%

19.6%

Under 1821.3%

18–3418.5%

35–5425.7%

55–6414.9%

65+19.6%

Gender

50%

Male50%

Female50%

Race & ethnicity

85.5%

White85.5%

Black2%

Hispanic9.3%

Asian2%

Other1.2%

Education (25+)

30.6%

28.7%

35.1%

No HS diploma5.6%

HS diploma30.6%

Some college28.7%

Bachelor's+35.1%

Housing tenure

86.6%

13.4%

Owner86.6%

Renter13.4%

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

2021 vs 2026

How ZIP 46385 in Valparaiso, IN has changed in 5 years

Income

$90,562 → $98,957

up 9.3%

Population

40,955 → 40,856

down 0.2%

Renter share

12.9% → 13.4%

+0.5 pts

Bachelor's+

34.6% → 35.1%

+0.5 pts

Local incomes tracked alongside that move, going from a median of $90,562 in 2021 to $98,957 more recently.

Community

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Local insights

Tips for renters in ZIP 46385

About renting in ZIP 46385

Last updated: October 17, 2026

ZIP code 46385 covers Valparaiso, IN. The median rent here is $1,636/mo as of October 2026. A 1-bedroom rents for a median of $1,210/mo. A 2-bedroom rents for a median of $1,470/mo.

At 20% of local median household income ($98,957/yr), ZIP 46385 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 9.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46385?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (about $31/hour full-time) to afford the median rent of $1,636/mo in ZIP 46385. The local median household income is $98,957/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 46385?

Rent in ZIP 46385 has fallen 9.1% over the past year.

How does ZIP 46385 compare to other ZIPs in Indiana?

ZIP 46385 is one of the pricier among Indiana ZIP codes for rent, ranking #36 of 139 at $1,636/mo. Over the year to September 2026, rent in ZIP 46385 changed -9.1%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.