Average Rent in Indiana

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Current Versus Historical Indiana Rents

Indiana rentals average $770 for a studio rental to $2,300 for a 4-bedroom rental. The median price of all currently available listings is $1,204, or roughly $1 per square feet.

For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $156 (-17.36%) year-over-year from $899 to $743. 1-bedroom rentals prices have decreased by $159 (-15.35%) year-over-year from $1,034 to $875. 2-bedroom rentals prices have decreased by $3 (-0.24%) year-over-year from $1,117 to $1,114. 3-bedroom rentals prices have increased by $133 (9.41%) year-over-year from $1,417 to $1,550. 4-bedroom rentals prices have increased by $346 (18.70%) year-over-year from $1,849 to $2,195. 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 5.51% this month. 1-bedroom rents have gone down by 7.80% this month. 2-bedroom rents have gone down by 1.97% this month. 3-bedroom rents have gone up by 5.71% this month. 4-bedroom rents have gone up by 6.42% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$1.97	$743	$899 (-17.36%)	$1,615 (-54.02%)
1 BR	$1.36	$875	$1,034 (-15.35%)	$967 (-9.55%)
2 BR	$1.21	$1,114	$1,117 (-0.24%)	$1,000 (11.44%)
3 BR	$1.20	$1,550	$1,417 (9.41%)	$1,333 (16.28%)
4+ BR	$1.00	$2,195	$1,849 (18.70%)	$1,483 (48.04%)

Historical Rents in Indiana

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Indiana

There are a total of 42 cities nearby Indiana. The average rent in Indiana is currently $1,300 per month. A total of 19 cities nearby have an average rent lower than that. Our records show that Dubuque, IA, with an average rent of $315, is the most affordable city nearby. In contrast, the most expensive city near Indiana is Birmingham, MI. Monthly rents here are on average $2,988 per month.

Let's compare Indiana's rent against other top cities nearby by bedroom size. Typically, rent for studios in Indiana is 2.53% more affordable than other cities nearby. One bedrooms are about 20.95% more affordable. Two bedrooms in Indiana are about 16.02% more affordable. Finally, rent for three bedrooms are about 3.32% more expensive. Want more information? Check out the top 10 cities out of 42 total cities near Indiana in the following chart.

City	Studio	1 Bed	2 Bed	All
Muncie, IN	$598	$695	$800	$850
Evansville, IN	$625	$715	$973	$925
Urbana, IL	$676	$876	$1,008	$1,015
Bowling Green, KY	$1,400	$845	$1,100	$1,018
Champaign, IL	$852	$1,020	$1,260	$1,175
Cincinnati, OH	$930	$950	$1,300	$1,200
Louisville, KY	$2,125	$913	$1,237	$1,300
Indianapolis, IN	$717	$795	$1,100	$1,300
Bloomington, IN	$1,158	$1,039	$1,565	$1,600
Lexington-Fayette, KY	N/A	$1,123	$1,400	$1,850

Top Neighborhoods Near Indiana

There are a total of 19 neighborhoods in or near Indiana. Some of these neighborhoods include Lower East Side, Downtown Madison, and Edgewater. We've included all of these top 19 neighborhoods in or near Indiana in the following chart.

The average rent for these 19 neighborhoods in or near Indiana is currently around $1,850 per month. A total of one neighborhood has a lower average rent. Meaning, only eighteen neighborhoods have a higher average rent than $1,850. Interestingly, the neighborhoods' average rent is higher than Indiana's average rent, which is only $1,204. Out of all the neighborhoods in or near Indiana, Lower East Side has the most affordable average rent at $935 per month. Whereas, at $2,809 average rent per month, South Loop is the most expensive neighborhood in or near Indiana. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Lower East Side, Milwaukee, WI	$755	$925	$1,363	$935
Downtown Madison, Madison, WI	$1,075	$1,300	$1,990	$1,525
Edgewater, Chicago, IL	$1,120	$1,550	$2,200	$1,550
Indianola Terrace, Columbus, OH	N/A	$824	$1,175	$1,588
Rogers Park, Chicago, IL	$1,125	$1,375	$1,850	$1,600
Uptown, Chicago, IL	$1,100	$1,600	$2,595	$1,645
Ravenswood, Chicago, IL	$1,210	$1,595	$2,650	$1,648
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,850	$1,750
Albany Park, Chicago, IL	$1,048	$1,420	$1,925	$1,813
Lincoln Park, Chicago, IL	$1,390	$1,863	$2,795	$1,850
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Humboldt Park, Chicago, IL	$2,100	$1,550	$1,825	$1,975
Lakeview, Chicago, IL	$1,343	$1,895	$2,590	$2,095
Old Northeast, Bloomington, IN	$1,110	$1,198	$1,937	$2,150
Hyde Park, Chicago, IL	$1,250	$1,673	$1,887	$2,299
DePaul, Chicago, IL	$1,668	$2,290	$2,400	$2,395
Midtown, Atlanta, GA	$1,558	$1,975	$2,750	$2,503
Near North Side, Chicago, IL	$1,843	$2,400	$3,552	$2,600
South Loop, Chicago, IL	$1,650	$2,248	$3,000	$2,809

Top Counties Near Indiana

There are a total of 19 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 $1,450. That's roughly around $1 per sqft. A total of 16 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 $2,500, Fulton, GA is the most expensive county by Indiana.

Typically, rent for studios in Indiana is 17.05% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Indiana is 23.51% more affordable than other counties nearby. Finally, rent for two bedrooms in Indiana is 26.19% 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	$598	$695	$829	$882
Warren, KY	$1,600	$845	$1,100	$1,050
Champaign, IL	$788	$950	$1,120	$1,100
Hamilton, OH	$928	$943	$1,295	$1,250
Jefferson, KY	$2,125	$925	$1,237	$1,300
Marion, IN	$748	$818	$1,100	$1,300
Butler, OH	$660	$813	$1,095	$1,395
Monroe, IN	$1,158	$1,049	$1,500	$1,600
Fayette, KY	N/A	$1,123	$1,400	$1,850
Hamilton, IN	N/A	$1,339	$1,600	$2,225

Top Zipcodes Near Indiana

There are a total of 37 zipcodes in or near Indiana. The average rent for all of these zipcodes is $1,800. A total of 6 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 52001, Dubuque County, IA at $500 per month. In comparison, the zipcode with the most expensive average rent of $3,000 per month is 48009, Birmingham, MI.

Studios in these zipcodes have an average rent of $1,100. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Indiana is $1,420 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,900 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	$1,345	$1,900	$2,650	$2,090
43201, Columbus, OH	$862	$1,100	$1,325	$1,600
60647, Chicago, IL	$1,250	$1,823	$2,145	$2,000
60613, Chicago, IL	$1,298	$1,698	$2,550	$1,940
60640, Chicago, IL	$1,105	$1,595	$2,483	$1,595
60614, Chicago, IL	$1,660	$2,393	$2,873	$2,395
60610, Chicago, IL	$1,840	$2,300	$3,475	$2,658
60625, Chicago, IL	$1,100	$1,495	$2,100	$1,650
35205, Birmingham, AL	$755	$938	$1,265	$1,005
60626, Chicago, IL	$1,150	$1,400	$1,850	$1,600

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 $1,204. 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 $770 and an average price per square feet of $1.97. There are a total of 79 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 $1.36. There are a total of 424 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 $1,050 and an average price per square feet of $1.21. There are a total of 545 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 -0.17%, one bedroom rental prices have changed by -0.15%, two bedroom rental prices have changed by 0.00%, 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 $963/month. You can search for these reasonably priced rental listings on RentHop.