What is the average apartment size in Carmel?

The average size for a Carmel, IN apartment is 996 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.

What is the average rent in Carmel?

As of Jun / 2026, the average rent in Carmel is $1,704 per month, a 2.38% increase from last years average of $1,664.

What is the average apartment size in Carmel?

The typical apartment in Carmel offers about 996 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

Carmel, IN Rental Market Trends

Q: What's the typical rent budget in Carmel?

The typical rent budget in Carmel ranges from $1,501 to $2,000 per month, with 50% of rentals in this range.

Q: Do most people rent or own in Carmel?

In Carmel, 26% of households rent while 74% own their homes, based on the latest U.S. Census data.

Last updated: August 01, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Carmel is $1,704, a 2.38% increase compared to the previous year, when the average rent was $1,664.

One-bedroom apartments provide 781 square feet for $1,485, balancing privacy and affordability.

Two-bedroom units at $1,824 offer 1,131 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,431 sq ft) for $2,234, suitable for larger households.

Average rent in Carmel, IN

Last updated: August 01, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,704	996 sq. ft.
Studio	n/a	n/a
1 Bed	$1,485	781 sq. ft.
2 Beds	$1,824	1,131 sq. ft.
3 Beds	$2,234	1,431 sq. ft.

Carmel, IN rent trends

Rental prices in Carmel, IN have increased by 2.38% over the past year. The average rent moved from $1,664 to $1,704.

What's the typical rent budget in Carmel, IN?

The largest share of rentals in Carmel, IN (50%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Carmel, IN?

9,875 or 26% of the households in Carmel, IN are renter-occupied while 28,551 or 74% are owner-occupied.

How Carmel Compares to Other Cities

City	Average Rent
Carmel	$1,704
Indianapolis	$1,266
New Albany	$1,108
Bloomington	$1,703
South Bend	$1,433
Evansville	$1,030
Gary	$1,011
Fort Wayne	$1,198
Jeffersonville	$1,257
Hammond	$1,256
Lafayette	$1,195
Greenwood	$1,374
Noblesville	$1,592
Fishers	$1,661
Lawrence, IN	$1,195
Avon, IN	$1,566
Plainfield, IN	$1,600
Brownsburg, IN	$1,603
Westfield, IN	$1,705
Whitestown, IN	$1,847
Greenfield, IN	$1,412

Where this data comes from

The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.

Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Carmel apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.

Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.