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 Jan / 2026, the average rent in Carmel is $1,658 per month, a 2.22% increase from last years average of $1,622.

How much does rent cost by apartment size in Carmel?

In Carmel, studios rent for $1,145 per month, one-bedroom units average $1,461 per month, two-bedrooms cost around $1,778 per month, and three-bedroom apartments rent for about $2,079 per month

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.

How large are apartments by bedroom count in Carmel?

Studio apartments in Carmel average 540 sq. ft., one-bedrooms offer 783 sq. ft., two-bedrooms are about 1,129 sq. ft., and three-bedroom apartments average 1,431 sq. ft.

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, 25% of households rent while 75% own their homes, based on the latest U.S. Census data.

Last updated: February 18, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Carmel is $1,658, a 2.22% increase compared to the previous year, when the average rent was $1,622.

Studio Apartments at $1,145 offer the most budget-friendly option with 540 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 783 square feet for $1,461, balancing privacy and affordability.

Two-beedroom units at $1,778 offer 1,129 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,431 sq ft) for $2,079, suitable for larger households.

Average rent in Carmel, IN

Last updated: February 18, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,658	996 sq. ft.
Studio	$1,145	540 sq. ft.
1 Bed	$1,461	783 sq. ft.
2 Beds	$1,778	1,129 sq. ft.
3 Beds	$2,079	1,431 sq. ft.

Carmel, IN rent trends

Rental prices in Carmel, IN have increased by 2.22% over the past year. The average rent moved from $1,622 to $1,658.

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?

9,710 or 25% of the households in Carmel, IN are renter-occupied while 28,450 or 75% are owner-occupied.

How Carmel Compares to Other Cities

City	Average Rent
Carmel	$1,658
Indianapolis	$1,252
Jeffersonville	$1,240
Greenwood	$1,369
New Albany	$1,121
Bloomington	$1,631
Noblesville	$1,545
Fishers	$1,646
Fort Wayne	$1,143
Lafayette	$1,198
Evansville	$1,024
Lawrence	$1,220
Camby	$1,501
Plainfield	$1,558
Greenfield	$1,359
Brownsburg, IN	$1,612
Avon, IN	$1,521
Westfield, IN	$1,661
Whitestown, IN	$1,672
Anderson, IN	$1,052
Lebanon, IN	$1,307

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.