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
What is the average rent in Carmel?
The average rent for an apartment in Carmel is $1,455. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Carmel, IN
Last updated May 2022
| Average Rent | Average Apartment Size |
|---|---|
| $1,455 | 1,019 sq. ft. |
What is the average apartment size in Carmel?
The average size for a Carmel, IN apartment is 1,019 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
Carmel, IN Occupied Housing Units
9,583 or 25% of the households in Carmel, IN are renter-occupied while 27,786 or 74% are owner-occupied.
Carmel, IN Rent Trends
| Average Rent | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | Jul / 2021 | Nov / 2021 | May / 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Carmel, IN | $1,112 | $1,173 | $1,179 | $1,178 | $1,184 | $1,222 | $1,227 | $1,288 | $1,404 | $1,455 |
| National | $1,367 | $1,399 | $1,407 | $1,409 | $1,399 | $1,403 | $1,412 | $1,495 | $1,591 | $1,628 |
How Carmel Compares to Other Cities
| City | Average Rent |
|---|---|
| Indianapolis | $1,055 |
| Greenwood | $1,094 |
| Fort Wayne | $980 |
| Lawrence | $914 |
| Bloomington | $1,217 |
| Lafayette | $896 |
| Noblesville | $1,281 |
| South Bend | $1,151 |
| Fishers | $1,399 |
| Franklin | $947 |
| Carmel | $1,455 |
| Camby | $1,189 |
| Avon | $1,369 |
| Greenfield | $988 |
| Plainfield | $1,313 |
| Whitestown | $1,387 |
| Westfield | $1,452 |
| Brownsburg | $1,332 |
| Anderson | $857 |
| Cumberland | $895 |
| Beech Grove | $1,026 |
Most Popular Apartments in Carmel
Avant Apartments
12890 Old Meridian Street, Carmel, IN 46032- Studio
- 1 BED
- 2+ BEDS
- Ask for pricing
- $1,385+
- $1,840+
Providence At Old Meridian
300 Providence Blvd, Carmel, IN 46032- 1 BED
- 2 BEDS
- 3 BEDS
- $1,288+
- $1,920+
- $2,197+
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.