What is the median rent in Carmel, IN?

Name: Median rent in Carmel, IN, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median gross rent in Carmel, IN is $1,712 (±$47) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 9,673 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

In Carmel, the median gross rent went from $1,207 in 2015–2019 to $1,712 in 2020–2024 (+41.8%).

Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.

Figures last updated on November 12, 2026.

Median gross rent: $1,712 (±$47)
Rented homes: 9,673 (±738)
$2,000 or more: 26.9%
Since 2015–2019: +41.8%

How much rent costs in Carmel

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Carmel	Hamilton County	Indiana	United States
Less than $500	0.3% (±0.3 points)	2.8%	7.1%	6.3%
$500 to $999	2.4% (±1.4 points)	7.9%	36.9%	20.2%
$1,000 to $1,499	30.3% (±4.5 points)	34.5%	38.5%	28.1%
$1,500 to $1,999	39.9% (±4.2 points)	32.7%	12.0%	21.1%
$2,000 to $2,499	15.1% (±3.1 points)	14.0%	3.6%	12.0%
$2,500 to $2,999	5.1% (±1.8 points)	4.6%	1.0%	5.5%
$3,000 or more	6.7% (±2.3 points)	3.6%	0.9%	6.8%

The most common range is $1,500 to $1,999, paid by 39.9% of renting households.

26.9% of rented homes in Carmel cost $2,000 or more a month.

Carmel against Hamilton County, its state and the nation

Estimate (90% margin of error)
	Carmel	Hamilton County	Indiana	United States
Median gross rent	$1,712 (±$47)	$1,574 (±$42)	$1,062 (±$5)	$1,413
Rented homes paying rent	9,673 (±738)	32,074 (±1,408)	758,146 (±6,704)	42,849,984

In Carmel, median gross rent is higher than in Hamilton County ($1,574).

It is also higher than in Indiana ($1,062).

It is higher than the national figure ($1,413).

In Hamilton County, Carmel ranks 3 of 16 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 16 of 1,204.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How rent in Carmel has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median gross rent	$1,207 (±$22)	$1,712 (±$47)	+41.8%	Up after inflation
Households that rent	24.4% (±1.1 points)	25.7% (±1.7 points)	+1.3 percentage points	Not a measurable change
Rental vacancy rate	9.7% (±2.4 points)	8.2% (±2.6 points)	−1.5 percentage points	Not a measurable change

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median gross rent in places near Carmel

Nearest places with a published estimate, compared with Carmel
Place	Distance	Median gross rent	Compared with this place
Carmel	—	$1,712 (±$47)	—
Clay Township (Hamilton County)	0.0 mi	$1,713 (±$49)	Not measurably different
Westfield	4.9 mi	$1,667 (±$68)	Not measurably different
Washington Township (Marion County)	6.2 mi	$1,239 (±$28)	Lower
Westfield Washington Township	6.2 mi	$1,663 (±$62)	Not measurably different
Delaware Township (Hamilton County)	6.5 mi	$1,526 (±$85)	Lower
Rocky Ripple	8.2 mi	$1,463 (±$215)	Lower
Pike Township (Marion County)	8.8 mi	$1,131 (±$37)	Lower
Noblesville	9.0 mi	$1,389 (±$75)	Lower

Nearby places with a measurably lower figure: Washington Township (Marion County), IN ($1,239), Delaware Township (Hamilton County), IN ($1,526), Rocky Ripple, IN ($1,463).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median gross rent across Hamilton County, place by place

Rank	Place	Median gross rent
1	Fall Creek Township (Hamilton County)	$1,750 (±$117)
2	Clay Township (Hamilton County)	$1,713 (±$49)
3	Carmel	$1,712 (±$47)
4	Wayne Township (Hamilton County)	$1,668 (±$468)
5	Westfield	$1,667 (±$68)
6	Westfield Washington Township	$1,663 (±$62)
7	Fishers	$1,611 (±$85)
8	Delaware Township (Hamilton County)	$1,526 (±$85)
9	Noblesville	$1,389 (±$75)

Showing 9 of 16 places in Hamilton County, ranked from highest to lowest.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Carmel

What is the average rent in Carmel, IN?

The Census Bureau publishes the median rather than the average: the median gross rent in Carmel is $1,712 (±$47) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How much has rent gone up in Carmel?

In Carmel, the median gross rent went from $1,207 in 2015–2019 to $1,712 in 2020–2024 (+41.8%).

Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.

How many rentals in Carmel cost more than $2,000 a month?

26.9% of rented homes in Carmel have a gross rent of $2,000 or more a month, and 0.3% cost less than $500.

Is rent in Carmel higher than in Hamilton County?

In Carmel, median gross rent is higher than in Hamilton County ($1,574).

It is also higher than in Indiana ($1,062).

It is higher than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Carmel city, Indiana (place:10342, in state:18).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.