ZIP Code · IN

ZIP 46545

Part of Mishawaka, IN

Pop. 26,606·Saint Joseph County·100th most expensive ZIP in Indiana

Median rent (all units)

$1,181/mo

Year-over-Year

+1.0%

Month-over-Month

-0.9%

vs US Median

-$751

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 46545 · $1,181

More affordable than 92% 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

$920

1 BR

$1,140

2 BR

$1,330

3 BR

$1,610

4 BR+

$1,760

Research median

$1,330/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 46545 changed +1.0% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.

Recent direction

Rent has fallen 2 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($56,865) is $1,422 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,330); a 3-bedroom is $1,610.

From Zillow's monthly rent index (ZORI) for ZIP 46545. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$14,172/yr

At $1,181/mo median

Location

CityMishawaka

StateIN

CountySaint Joseph County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+1.0% YoY, -0.9% MoM), not inventory.

Demographics

Who lives here

ZIP 46545 (Mishawaka, IN) is roughly split between renters and owners, has a large retiree population, has a median income below the national average, 32.5% of residents hold a bachelor's degree or higher.

Population

26,606

Median income

$56,865

Median age

38.3

Renters

47.3%

Age distribution

19.5%

26.4%

23.3%

20.7%

Under 1819.5%

18–3426.4%

35–5423.3%

55–6410.1%

65+20.7%

Gender

46.3%

53.7%

Male46.3%

Female53.7%

Race & ethnicity

77.5%

White77.5%

Black8.8%

Hispanic5.4%

Asian2.9%

Other5.5%

Education (25+)

28.9%

32.2%

32.5%

No HS diploma6.3%

HS diploma28.9%

Some college32.2%

Bachelor's+32.5%

Housing tenure

52.7%

47.3%

Owner52.7%

Renter47.3%

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

2021 vs 2026

How ZIP 46545 in Mishawaka, IN has changed in 5 years

Income

$49,927 → $56,865

up 13.9%

Population

26,448 → 26,606

up 0.6%

Renter share

53.1% → 47.3%

-5.8 pts

Bachelor's+

32.9% → 32.5%

-0.4 pts

Median age

36.3 → 38.3

+2.0 yrs

Household income in the area moved from $49,927 to $56,865 across the same window, up 13.9% versus 2021. The renter share has eased from 53.1% to 47.3%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 46545

Last updated: October 17, 2026

ZIP code 46545 covers Mishawaka, IN. The median rent here is $1,181/mo as of October 2026. A 1-bedroom rents for a median of $1,140/mo. A 2-bedroom rents for a median of $1,330/mo.

At 25% of local median household income ($56,865/yr), ZIP 46545 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 46545?

To keep rent at or below 30% of gross income, you would need to earn at least $47,000/year (about $23/hour full-time) to afford the median rent of $1,181/mo in ZIP 46545. The local median household income is $56,865/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 46545?

Rent in ZIP 46545 has risen 1.0% over the past year.

How does ZIP 46545 compare to other ZIPs in Indiana?

ZIP 46545 is one of the more affordable among Indiana ZIP codes for rent, ranking #100 of 139 at $1,181/mo. Over the year to September 2026, rent in ZIP 46545 changed +1.0%, against a typical +3.9% across the 114 Indiana ZIP codes Zillow tracks.