Cheapest places to rent in Indiana

There is more to Indiana than the Indy 500 or that the state has produced the fifth-highest number of professional basketball players per capita of any state.

Indiana is filled with attractions and amenities that draw visitors to this Midwest state. There's something for everyone, from the very popular Children's Museum of Indianapolis and the Indiana Dunes National Park. If making a move to or within Indiana is in your near future, there are a number of cheap places to live that you should consider.

Average rent prices in Indiana

While some cities throughout Indiana have experienced a significant increase in rent over the past year, such as Elkhart, the top 10 cities have experienced a monthly rent decrease in the last year. The average one-bedroom apartment is $1,086, down 0.1 percent since last year.

The cheapest cities in Indiana for renters

Fortunately, budget-conscious renters can expect to pay between $693 to $982 for a one-bedroom apartment in the top 10 cheapest cities in Indiana.

If living in one of the most hospitable Midwest states is on your agenda, check out one of these affordable towns.

10. Columbus

Cheapest places to rent in Indiana

Photo Source: Columbus, Indiana Visitors Center
  • Average 1-BR rent price: $982
  • Average rent change in the past year: -6.4 percent

Columbus is a small city packed with a ton of culture and fun.

World-class architecture, public art, live music, a downtown farmers market, the city about 46 miles south of Indianapolis welcomes those who want big-city amenities yet the charm of a smaller town.

This sculpture, a little girl made of limestone and holding a pink marble heart in her hands, created by Linda Peterson, a local resident, is on the Columbus People Trail.

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9. Lafayette

Cheapest places to rent in Indiana

Photo source: City of Lafayette / Facebook
  • Average 1-BR rent price: $971
  • Average rent change in the past year: -0.4 percent

On the east side of the Wabash River and located 63 miles northwest of Indianapolis is Lafayette and home to IU-Health Arnette Hospital and the Haan Museum of Indiana Art filled with works by both historic and contemporary Indiana artists.

The Ninth Street Hill Neighborhood Historic District is a national historic with 88 contributing buildings and six contributing structures showcasing Gothic Revival, Italianate, Queen Anne, Greek Revival and Second Empire style architecture. Downtown Lafayette features charming independent boutiques and art galleries.

While Purdue University is technically located in West Lafayette, just over the Wabash River, both communities support the university's student population with amenities and services.

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8. Mishawaka

Cheapest places to rent in Indiana

Photo source: City of Mishawaka – Municipal Government / Facebook
  • Average 1-BR rent price: $935
  • Average rent change in the past year: -0.3 percent

Nestled along the St. Joseph River in northern Indiana and next to South Bend, Mishawaka has dozens of parks, a historic district and new construction to accommodate its growing population.

Although the University of Notre Dame is nearby in South Bend, Mishawaka is home to its own university. Bethel University is a private Christian liberal arts university established in 1947.

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7. Kokomo

Cheapest places to rent in Indiana

Photo source: City of Kokomo – City Hall / Facebook
  • Average 1-BR rent price: $813
  • Average rent change in the past year: -9.6 percent

Nature lovers live for Kokomo's many parks, low and gently rolling hills and multiple creeks. Art lovers enjoy the Kokomo Artist Alley in downtown Kokomo as the outdoor art gallery is open 24/7.

Chrysler still maintains a plant in Kokomo — the company plans to convert a transmission factory into a new facility to produce engines as it's a major employer in this small industrial town 60 miles north of Indianapolis.

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6. West Lafayette

Cheapest places to rent in Indiana

Photo source: West Lafayette – City Government / Facebook
  • Average 1-BR rent price: $797
  • Average rent change in the past year: -31 percent

Just across the John T. Myers Pedestrian Bridge over the Wabash River from Lafayette's side is West Lafayette, home of Purdue University. More than 45,000 students enrolled in the research university in 2020.

There is more to West Lafayette than Purdue and locals can enjoy live music at Riehle Plaza, shop for art during the annual Art on the Wabash art fair and enjoy restaurants downtown and throughout the city.

Locals and visitors alike enjoy a visit to Triple XXX Family Restaurant, Indiana's oldest drive-in and known for its root beer and just a few blocks from Purdue's campus.

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5. South Bend

Cheapest places to rent in Indiana

Photo source: Visit South Bend / Facebook
  • Average 1-BR rent price: $777
  • Average rent change in the past year: -40.1 percent

Most people know of South Bend because it's home to the University of Notre Dame but not everyone who lives in South Bend is a student. The city is also home to the headquarters of AM General which designs, engineers, manufactures and supplies vehicles for military and commercial customers throughout the world.

It's filled with several museums, including the South Bend Museum of Art with five galleries of history and contemporary art, located in downtown South Bend, and the Civil Rights Heritage Center, a center that helps educate people on contemporary issues of social justice and civil rights and located at Indiana University's South Bend campus.

There are a ton of family-friendly activities and wineries, breweries and distilleries to enjoy.

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4. Greenwood

Cheapest places to rent in Indiana

Photo source: Greenwood, Indiana / Facebook
  • Average 1-BR rent price: $770
  • Average rent change in the past year: -0.20 percent

Cute and welcoming coffee shops, breweries, shopping options from independent boutiques to major retailers found at the Greenwood Park Mall and a farmers market make this affordable city all the more charming.

Likewise, those who live in Greenwood appreciate the fact that there is something for everyone in their community. For those who want access to big-city amenities but the charm of a tight community, Greenwood is a nice mix of both since it's only 11 miles south of downtown Indianapolis.

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3. Muncie

Cheapest places to rent in Indiana

Photo source: City of Muncie / Facebook
  • Average 1-BR rent price: $705
  • Average rent change in the past year: N/A

Nestled in east-central Indiana and home of Ball State University, Muncie is also where Bob Ross taped "The Joy of Painting" from 1983-1988 in a television studio (which can still be enjoyed through an interactive exhibit at the Minnetrista's museum campus).

The Minnetrista is along the White River and often serves as a public gathering place in addition to a cultural museum.

Locals love biking or hiking along the Cardinal Greenway, Indiana's longest rail-to-trail paved trail spanning 62 miles which includes Muncie.

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2. Evansville

Cheapest places to rent in Indiana

  • Average 1-BR rent price: $702
  • Average rent change in the past year: -29.7 percent

Located Southwest in Indiana on the Ohio River, Evansville is one of those large cities with a small-town community feel.

Also known as “Eville" by locals, Evansville has a charming downtown with restaurants and shops. As well as plenty of outdoor recreational activities to enjoy, including hiking trails and city parks.

Indiana's first zoo, the Mesker Park Zoo and Botanic Garden opened in 1928 in Evansville and is in Mesker Park on the city's northwest side.

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1. Fort Wayne

Cheapest places to rent in Indiana

  • Average 1-BR rent price: $693
  • Average rent change in the past year: -19.8 percent

Fort Wayne locals love biking on the greenway, visiting the Foellinger-Freimann Botanical Conservatory, walking or driving along the tree-lined streets and plenty of green spaces to enjoy the outdoors but they also love being close to shopping, medical facilities and access to I-69.

Others enjoy attending year-round events at the Embassy Theatre, a performing arts theatre built in 1928 and current home of the Fort Wayne Philharmonic Orchestra, or the Fort Wayne Civic Theatre to catch a live concert or show.

Children love visiting the 40-acre Fort Wayne Children's Zoo. Additionally, the city has a suburban feel with plenty of big-city amenities.

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The most expensive places to live in Indiana

It's possible to find a one-bedroom apartment in Indiana for less than $1,000 a month.

Whether you're moving within the state or long-distance apartment hunting, there are plenty of options in all price ranges.

Even some of the most expensive places to live in Indiana, such as Elkhart or Indianapolis, offer a one-bedroom apartment for $1,005 and $1,214 respectively.

If budget is not a concern, here are some of the most expensive places to live in Indiana.

Methodology

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.'s multifamily rental property inventory as of June 2021. Our team uses a weighted average formula that more accurately represents price availability for each unit type and reduces the influence of seasonality on rent prices in specific markets.

We excluded cities with insufficient inventory from this report.

The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

What is the cheapest town in Indiana to live in?

Here are the top 10 cheapest places to live in Indiana:.
New Whiteland..
Wabash..
Rushville..
North Vernon..
Elwood..
Princeton..
North Manchester..
Huntington..

Where is the cheapest average rent?

Cheapest State for Rent in the US The least expensive state for rent is West Virginia with an average rent price of $800.

What's the cheapest county to live in in Indiana?

Parke County #1 Counties with the Lowest Cost of Living in Indiana.

Is Indiana a cheap place to live?

Indiana is the tenth-cheapest state to live in the United States. Average costs are 10% lower than the national average, and costs in all categories are below the national average.