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ZIP Code · IN

ZIP 47304

Part of Muncie, IN
Pop. 31,237·Delaware County·114th most expensive ZIP in Indiana
Median rent (all units)
$1,072/mo
Year-over-Year
-7.5%
Month-over-Month
-2.1%
vs US Median
-$893
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 47304 · $1,072
More affordable than 96% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$860
1 BR
$910
2 BR
$1,120
3 BR
$1,450
4 BR+
$1,810
Research median
$1,120/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: July 20, 2026

Annual cost
$12,864/yr
At $1,072/mo median
Location
CityMuncie
StateIN
CountyDelaware County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 7.5% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-7.5% YoY, -2.1% MoM), not inventory.
Demographics

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.

Population
31,237
Median income
$63,215
Median age
37
Renters
34.6%
Age distribution
14.8%
33.6%
20.7%
21.4%
Under 1814.8%
18–3433.6%
35–5420.7%
55–649.5%
65+21.4%
Gender
48.1%
51.9%
Male48.1%
Female51.9%
Race & ethnicity
83.8%
White83.8%
Black4.3%
Hispanic3.7%
Asian3.8%
Other4.4%
Education (25+)
22.6%
29.6%
41.9%
No HS diploma5.9%
HS diploma22.6%
Some college29.6%
Bachelor's+41.9%
Housing tenure
65.4%
34.6%
Owner65.4%
Renter34.6%

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

2021 vs 2026

How ZIP 47304 in Muncie, IN has changed in 5 years

Income
$60,037 → $63,215
up 5.3%
Population
31,830 → 31,237
down 1.9%
Renter share
33% → 34.6%
+1.6 pts
Bachelor's+
40% → 41.9%
+1.9 pts
Median age
36.1 → 37
+0.9 yrs

Local incomes tracked alongside that move, going from a median of $60,037 in 2021 to $63,215 more recently. 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.

Community

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Local insights

Tips for renters in ZIP 47304

About renting in ZIP 47304

Last updated: July 20, 2026

ZIP code 47304 covers Muncie, IN. The median rent here is $1,072/mo as of July 2026. A 1-bedroom rents for a median of $910/mo. A 2-bedroom rents for a median of $1,120/mo.

At 20% of local median household income ($63,215/yr), ZIP 47304 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 7.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 47304?

As of July 20, 2026, the median monthly rent in ZIP 47304 (Muncie, IN) is $1,072. This is based on aggregated data from public sources and community submissions.

How does ZIP 47304 rent compare to the US average?

ZIP 47304's median rent of $1,072/mo is $893 (45%) below the US national median of $1,965/mo.

How does ZIP 47304 compare to other ZIPs in Indiana?

ZIP 47304 is among the more affordable ZIP codes in Indiana, ranking #114 out of 144 ZIPs at $1,072/mo.

How much income do you need to rent in ZIP 47304?

To keep rent at or below 30% of gross income, you would need to earn at least $43,000/year (~$21/hour full-time) to afford the median rent of $1,072/mo in ZIP 47304. The local median household income is $63,215/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 47304?

Rent in ZIP 47304 has decreased 7.5% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 47304 an affordable place to rent?

ZIP 47304 is considered very affordable for renters. At $1,072/mo, rent takes approximately 20% of the local median household income ($63,215/yr). The standard benchmark is 30%. ZIP 47304 falls comfortably within that range.

What percentage of ZIP 47304 residents rent vs. own?

According to Census data, approximately 34.6% of ZIP 47304 households are renters, while 65.4% are owner-occupied. ZIP 47304 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 47304 compare to the rest of Muncie?

ZIP 47304 is pricier than Muncie as a whole. At $1,072/mo, it's $99 above the Muncie citywide median of $973/mo.

When was rent data for ZIP 47304 last updated?

Rent data for ZIP 47304 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $1,072/mo, rent takes ~20% of ZIP 47304's median household income ($63,215/yr). The standard benchmark is 30%.

ZIP 47304 20%Benchmark 30%
State income tax3.05%
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Schools nearby

Public schools near ZIP 47304 (Muncie, IN)

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