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Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.

Carmel, IN Rental Market Trends

Highlights

The average rent for an apartment in Carmel is $1,178, a 6% increase compared to the previous year, when the average rent was $1,112.

Average Rent in Carmel, IN

Last updated June 2020
Average Rent Y-o-Y Change Average Apartment Size
$1,178 6% 1,018 sq. ft.

The average size for a Carmel, IN apartment is 1,018 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Carmel, IN Apartment Rent Ranges

  • $501-$7001%
  • $701-$1,00025%
  • $1,001-$1,50065%
  • $1,501-$2,0008%
  • > $2,0001%

Carmel, IN Occupied Housing Units

  • Renter-occupied Households25%
  • Owner-occupied Households74%

8,613 or 25% of the households in Carmel, IN are renter-occupied while 25,125 or 74% are owner-occupied.

Carmel, IN Rent Trends

Average Rent Mar / 2017 Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Jun / 2020
Carmel, IN $1,071 $1,072 $1,059 $1,070 $1,073 $1,129 $1,112 $1,173 $1,179 $1,178
National $1,337 $1,368 $1,371 $1,374 $1,408 $1,417 $1,422 $1,458 $1,466 $1,468
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How Carmel Compares to Other Cities

Average Rent Y-o-Y Change
Indianapolis $902 5%
Bloomington $1,126 2%
Fort Wayne $802 6%
Greenwood $871 5%
South Bend $963 6%
Lawrence $770 10%
Carmel $1,178 6%
Fishers $1,168 7%
Noblesville $1,058 6%
Avon $1,118 5%
Anderson $715 4%

For more information about the Carmel rental trends, check out our monthly rent report

Check out Indiana Cities, Indiana Neighborhoods and Indiana Zip Codes for more details on verified listings, including the Indiana Average Rent.

Curious about listings in your area? Check out our apartments near you for more details!

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Carmel apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.