Average Rent Prices in Indiana (IN)
$7771
Studio
$8501
1BR
$1,0571
2BR
$1,3681
3BR
$1,5281
4BR
As of 2024, the overall average fair market rent for a residential rental property in Indiana is $1,116. Average rent prices in Indiana sit below the national average rent of $1,274, in which Indiana ranks as the as the 13th lowest rent among all 50 states and the 38th highest rent among all 50 states within the United States. In Indiana’s large metropolitan areas such as Indianapolis, IN, the average rent prices tend to be higher, while alternative areas such as Carmel, IN, can provide more affordable options.
Indiana (IN) National Rent Rankings
38th
Highest Rent Among 50 States
13th
Lowest Rent Among 50 States
Below
The National Rent Average
Average Rent Prices in Indiana (IN) Visual Chart
Studio
A one-room unit with a private bathroom.
1BR
A unit that has a separate bathroom and a separate bedroom.
2BR
A unit that has two separate and distinct bedrooms.
3BR
A unit that has 3 separate and distinct bedrooms.
4BR
A unit that has 4 separate and distinct bedrooms.
Fair Market Rent
Gross rent estimate for a standard rental unit in a given market.
Average Rent Prices in Indiana (IN) by Metro Area
| wdt_ID | Metro | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|---|
| 1 | Anderson, IN HUD Metro FMR Area | 793 | 868 | 1.140 | 1.468 | 1.518 |
| 2 | Bloomington, IN HUD Metro FMR Area | 848 | 979 | 1.126 | 1.549 | 1.814 |
| 3 | Carroll County, IN HUD Metro FMR Area | 655 | 657 | 863 | 1.105 | 1.149 |
| 4 | Cincinnati, OH-KY-IN HUD Metro FMR Area | 810 | 919 | 1.195 | 1.588 | 1.766 |
| 5 | Columbus, IN MSA | 1.037 | 65 | 1.196 | 1.539 | 1.669 |
| 6 | Elkhart-Goshen, IN MSA | 849 | 879 | 1.102 | 1.415 | 1.468 |
| 7 | Evansville, IN-KY MSA | 766 | 850 | 1.070 | 1.360 | 1.558 |
| 8 | Fort Wayne, IN MSA | 826 | 895 | 1.089 | 1.379 | 1.499 |
| 9 | Franklin County, IN HUD Metro FMR Area | 636 | 715 | 939 | 1.292 | 1.330 |
| 10 | Gary, IN HUD Metro FMR Area | 869 | 1.027 | 1.254 | 1.539 | 1.672 |
| 11 | Indianapolis-Carmel, IN HUD Metro FMR Area | 982 | 1.145 | 1.349 | 1.758 | 2.126 |
| 12 | Jasper County, IN HUD Metro FMR Area | 869 | 874 | 1.149 | 1.495 | 1.530 |
| 13 | Kokomo, IN MSA | 788 | 793 | 980 | 1.299 | 1.428 |
| 14 | Lafayette-West Lafayette, IN HUD Metro FMR Area | 778 | 908 | 1.069 | 1.293 | 1.604 |
| 15 | Louisville, KY-IN HUD Metro FMR Area | 976 | 1.077 | 1.301 | 1.701 | 1.955 |
| 16 | Michigan City-La Porte, IN MSA | 689 | 823 | 1.016 | 1.299 | 1.461 |
| 17 | Muncie, IN MSA | 708 | 784 | 952 | 1.280 | 1.383 |
| 18 | Owen County, IN HUD Metro FMR Area | 683 | 684 | 899 | 1.146 | 1.488 |
| 19 | Parke County, IN HUD Metro FMR Area | 745 | 752 | 988 | 1.311 | 1.316 |
| 20 | Putnam County, IN HUD Metro FMR Area | 827 | 855 | 1.124 | 1.503 | 1.729 |
| 21 | South Bend-Mishawaka, IN HUD Metro FMR Area | 689 | 862 | 1.017 | 1.267 | 1.354 |
| 22 | Sullivan County, IN HUD Metro FMR Area | 626 | 703 | 924 | 1.117 | 1.231 |
| 23 | Terre Haute, IN HUD Metro FMR Area | 741 | 766 | 964 | 1.166 | 1.398 |
| 24 | Union County, IN HUD Metro FMR Area | 628 | 714 | 926 | 1.245 | 1.494 |
| 25 | Warren County, IN HUD Metro FMR Area | 628 | 740 | 863 | 1.216 | 1.465 |
| 26 | Washington County, IN HUD Metro FMR Area | 745 | 753 | 989 | 1.236 | 1.317 |
| Metro | Studio | 1BR | 2BR | 3BR | 4BR |
Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2024.
Indiana (IN) Residential Rental Agreements
An Indiana (IN) residential lease agreement is a rental property document that includes the terms and conditions between a landlord who rents the property and the tenant in the state of Indiana. The contract outlines essential information, such as rent amount, applicable late fees, grace periods, and landlord-tenant responsibilities.
Average Rent Prices in Other US States 2024
Rent prices for each state across the United States can greatly vary. Click on a State below to see the specific fair market residential rent prices for that state:
The #1 Rental Property Newsletter
Once a month, we send out an exclusive Rental Property Market Update with top stories, current mortgage rates, building products, and more. No spam and unsubscribe anytime.
The Ultimate Guide to Rent Payments
Rent payments are the financial lifeblood for rental properties, but require fair and competitive pricing and effective collections.
The Ultimate Guide to Security Deposits
Security deposits play a key role in risk mitigation against potential tenant-related damages or contractual breaches.
The Ultimate Guide to Rental Utilities
Rental property utilities whether they are included or not, represent a significant consideration for both landlords and tenants.
Average Rent in the United States
Average rent prices across the United States provide excellent insights into highs, lows, and emerging market trends.
Cheapest Rent in the United States
The cheapest rent in the U.S. is an appealing topic for thrifty tenants and investors seeking lower price point properties.
Most Expensive Rent in the United States
It’s no secret that rents have been continually on the rise, but where are rents really the highest in the United States?
Search Rental Real Estate
Try searching out site for hundreds of rental property topics ranging from property management, investor tool reviews, investment research, and more.
Rental Property Calculators
Our rental property calculators help you easily calculate common metrics such as rent increases, late fees, and more. Click on a calculator or button below to start using them for free – no sign up required.
1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
Methodology
Areas with insufficient inventory or populations less than 25,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.
Data
Rent prices are based on aggregated data from one and/or several sources noted below:
Disclaimer
The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.