Average Rent in Indiana

Home  »  IN

Current Versus Historical Indiana Rents

Indiana rentals average $768 for a studio rental to $2,350 for a 4-bedroom rental. The median price of all currently available listings is $1,200, or roughly $1 per square feet.
For the apartment units and housing in February 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $63 (-7.75%) year-over-year from $813 to $750. 1-bedroom rentals prices have decreased by $237 (-21.82%) year-over-year from $1,087 to $850. 2-bedroom rentals prices have decreased by $35 (-3.13%) year-over-year from $1,107 to $1,072. 3-bedroom rentals prices have increased by $117 (8.78%) year-over-year from $1,333 to $1,450. 4-bedroom rentals prices have increased by $348 (19.69%) year-over-year from $1,765 to $2,113. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 1.01% this month. 1-bedroom rents have gone down by 11.12% this month. 2-bedroom rents have gone down by 5.33% this month. 3-bedroom rents have gone up by 1.64% this month. 4-bedroom rents have gone up by 7.19% this month.
Beds
Price / Sqft
Feb 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.94 $750 $813 (-7.75%) $1,588 (-52.77%)
1 BR $1.35 $850 $1,087 (-21.82%) $1,077 (-21.09%)
2 BR $1.19 $1,072 $1,107 (-3.13%) $1,034 (3.68%)
3 BR $1.17 $1,450 $1,333 (8.78%) $1,266 (14.50%)
4+ BR $1.00 $2,113 $1,765 (19.69%) $1,446 (46.06%)

Historical Rents in Indiana

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Indiana

There are a total of 46 cities nearby Indiana. The average rent in Indiana is currently $1,255 per month. A total of 22 cities nearby have an average rent lower than that. Our records show that Dubuque, IA, with an average rent of $700, is the most affordable city nearby. In contrast, the most expensive city near Indiana is Sandy Springs, GA. Monthly rents here are on average $2,775 per month.

Let's compare Indiana's rent against other top cities nearby by bedroom size. Typically, rent for studios in Indiana is 5.15% more affordable than other cities nearby. One bedrooms are about 12.50% more affordable. Two bedrooms in Indiana are about 19.95% more affordable. Finally, rent for three bedrooms are about 0.02% more expensive. Want more information? Check out the top 10 cities out of 46 total cities near Indiana in the following chart.
City Studio 1 Bed 2 Bed All
Anderson, IN $500 $675 $850 $850
Muncie, IN $600 $675 $829 $875
Evansville, IN $770 $725 $950 $930
Bowling Green, KY $2,403 $850 $1,065 $1,025
Urbana, IL $686 $875 $1,035 $1,035
Cincinnati, OH $895 $895 $1,300 $1,150
Indianapolis, IN $717 $775 $1,050 $1,200
Louisville, KY $825 $850 $1,199 $1,250
Champaign, IL $893 $1,023 $1,275 $1,260
Bloomington, IN $1,155 $1,069 $1,600 $1,595

Top Neighborhoods Near Indiana

There are a total of 23 neighborhoods in or near Indiana. Some of these neighborhoods include Westwood, Five Points South, and Vine. We've included all of these top 23 neighborhoods in or near Indiana in the following chart.

The average rent for these 23 neighborhoods in or near Indiana is currently around $1,740 per month. A total of 2 neighborhoods have a lower average rent. Meaning, only twenty-one neighborhoods have a higher average rent than $1,740. Interestingly, the neighborhoods' average rent is higher than Indiana's average rent, which is only $1,200. Out of all the neighborhoods in or near Indiana, Westwood has the most affordable average rent at $850 per month. Whereas, at $2,713 average rent per month, Near North Side is the most expensive neighborhood in or near Indiana. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Westwood, Cincinnati, OH $613 $795 $963 $850
Five Points South, Birmingham, AL $777 $905 $1,245 $984
Vine, Kalamazoo, MI $788 $783 $1,013 $1,288
Murray Hill, Milwaukee, WI $860 $1,095 $1,252 $1,395
Elm Heights, Bloomington, IN $1,000 $1,060 $1,450 $1,409
Edgewater, Chicago, IL $1,175 $1,475 $2,300 $1,498
Old North Columbus, Columbus, OH $790 $899 $1,150 $1,500
Indianola Terrace, Columbus, OH N/A $849 $1,075 $1,500
Rogers Park, Chicago, IL $1,115 $1,300 $1,850 $1,538
Uptown, Chicago, IL $1,095 $1,600 $2,150 $1,595
Ravenswood, Chicago, IL $1,275 $1,538 $2,525 $1,648
Downtown Madison, Madison, WI $1,080 $1,440 $1,990 $1,740
Lincoln Park, Chicago, IL $1,390 $1,750 $3,398 $1,750
West Rogers Park, Chicago, IL N/A $1,350 $1,800 $1,800
Lakeview, Chicago, IL $1,295 $1,825 $2,648 $2,000
Logan Square, Chicago, IL $1,150 $1,848 $2,295 $2,195
DePaul, Chicago, IL $1,445 $1,945 $2,398 $2,295
Old Northeast, Bloomington, IN $1,119 $1,089 $1,975 $2,400
Midtown, Atlanta, GA $1,515 $1,850 $2,925 $2,448
Bronzeville, Chicago, IL N/A $1,875 $2,000 $2,500
Bucktown, Chicago, IL $1,715 $1,725 $2,650 $2,600
South Loop, Chicago, IL $1,650 $2,100 $2,900 $2,700
Near North Side, Chicago, IL $1,860 $2,400 $3,500 $2,713

Top Counties Near Indiana

There are a total of 23 counties located by Indiana. Some of these counties include Delaware, IN, Warren, KY, and Champaign, IL. The average rent for rentals in these counties is $1,469. That's roughly around $1 per sqft. A total of 18 counties have a lower average rent. The county that is the most affordable is Lucas, OH. It's average rent per month is $850. Vice versa, with an average rent of $2,525, Cherokee, GA is the most expensive county by Indiana.

Typically, rent for studios in Indiana is 21.76% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Indiana is 24.69% more affordable than other counties nearby. Finally, rent for two bedrooms in Indiana is 31.25% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Delaware, IN $600 $675 $827 $892
Warren, KY $2,806 $845 $1,065 $1,025
Champaign, IL $820 $985 $1,200 $1,185
Marion, IN $721 $778 $1,074 $1,200
Hamilton, OH $897 $900 $1,295 $1,200
Butler, OH $3,750 $795 $995 $1,273
Jefferson, KY $825 $850 $1,199 $1,280
Monroe, IN $1,155 $1,079 $1,500 $1,598
Fayette, KY $1,400 $998 $1,325 $1,600
Hamilton, IN $2,222 $1,363 $1,640 $2,298

Top Zipcodes Near Indiana

There are a total of 38 zipcodes in or near Indiana. The average rent for all of these zipcodes is $1,620. A total of 9 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 45405, Dayton, OH at $900 per month. In comparison, the zipcode with the most expensive average rent of $3,300 per month is 60611, Chicago, IL.

Studios in these zipcodes have an average rent of $1,136. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Indiana is $1,321 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,856 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Indiana. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
60657, Chicago, IL $1,295 $1,925 $2,650 $2,013
43201, Columbus, OH $875 $950 $1,288 $1,600
60647, Chicago, IL $1,150 $1,870 $2,395 $2,200
60613, Chicago, IL $1,300 $1,625 $2,575 $1,795
60640, Chicago, IL $1,095 $1,596 $2,195 $1,583
60614, Chicago, IL $1,495 $2,250 $2,873 $2,295
60610, Chicago, IL $1,855 $2,238 $3,398 $2,760
60625, Chicago, IL $1,300 $1,495 $1,925 $1,650
35205, Birmingham, AL $778 $919 $1,218 $985
60626, Chicago, IL $1,135 $1,300 $1,850 $1,525

Frequently Asked Questions - Indiana Average Rents

What is the average rent price in Indiana?
The average monthly rental price for Indiana apartments for rent is approximately $1,200. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Indiana rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Indiana.
How much is a studio apartment in Indiana?
The average monthly rental price for studio apartments is $768 and an average price per square feet of $1.94. There are a total of 88 studio apartment listings currently available for rent in Indiana.
How much is a one bedroom apartment in Indiana?
The average monthly rental price for one bedroom apartments is $800 and an average price per square feet of $1.35. There are a total of 491 one bedroom apartment listings currently available for rent in Indiana.
How much is a two bedroom apartment in Indiana?
The average monthly rental price for two bedroom apartments is $1,000 and an average price per square feet of $1.19. There are a total of 652 two bedroom apartment listings currently available for rent in Indiana.
How have rent prices in Indiana changed this year?
Rent prices for rentals in Indiana can fluctuate yearly. Specifically, studio rental prices have changed by -0.08%, one bedroom rental prices have changed by -0.22%, two bedroom rental prices have changed by -0.03%, and three bedroom rental prices have changed by 0.09% year-over-year.
What is a reasonable rent price in Indiana?
A reasonable rent price in Indiana is around $960/month. You can search for these reasonably priced rental listings on RentHop.
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
© 2009 - 2024 RentHop.com™
Quantcast