ZIP 47304
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12-month history
Last updated: October 17, 2026
What the numbers show
Rent in ZIP 47304 is at its highest level since Zillow's records here began in June 2022.
Rent in ZIP 47304 changed +4.9% over the year to September 2026. Across the 114 Indiana ZIP codes Zillow tracks, the typical change was +3.9%.
Rent has risen 4 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($63,215) is $1,580 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,450); a 4-bedroom is $1,810.
4th cheapest of 4 ZIP codes in Muncie.
ZIP 47305, 5 miles away, rents for 33% less ($808/mo), about $4,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 47304. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 47304 (Muncie, IN) is majority owner-occupied, skews toward younger working-age adults, has a median income below the national average, 41.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 47304 in Muncie, IN has changed in 5 years
Since 2023, the typical rent in ZIP 47304 in Muncie, IN has increased from $1,064 to $1,210, a 13.7% change over five years. Local incomes tracked alongside that move, going from a median of $60,037 in 2021 to $63,215 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 1.9% since 2021, moving from about 31,830 residents to roughly 31,237. Renters now make up 34.6% of households, compared with 33% five years ago. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 47304 in Muncie, IN market of 2023.
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Tips for renters in ZIP 47304
Last updated: October 17, 2026
ZIP code 47304 covers Muncie, IN. The median rent here is $1,210/mo as of October 2026. A 1-bedroom rents for a median of $910/mo. A 2-bedroom rents for a median of $1,120/mo.
At 23% of local median household income ($63,215/yr), ZIP 47304 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.9% over the past year.
Frequently asked questions
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How does ZIP 47304 compare to other ZIPs in Indiana?
How does ZIP 47304 compare to the rest of Muncie?
At $1,210/mo, rent takes ~23% of ZIP 47304's median household income ($63,215/yr). The standard benchmark is 30%.
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