Indianapolis-Carmel-Anderson vs Madison
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Indianapolis-Carmel-Anderson is 13% cheaper for renters. A 2-bedroom rents for $916/mo vs $1,038/mo in Madison — saving $1,464/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Madison | Difference |
|---|---|---|---|
| Studio | $568 | $676 | $108 |
| 1 Bedroom | $718 | $827 | $109 |
| 2 Bedrooms | $916 | $1,038 | $122 |
| 3 Bedrooms | $1,096 | $1,222 | $126 |
| 4 Bedrooms | $1,191 | $1,400 | $209 |
| Median Income | $51,092 | $64,691 | $13,599 |
Indianapolis-Carmel-Anderson
- Studio
- $568/mo
- 1 BR
- $718/mo
- 2 BR
- $916/mo
- 3 BR
- $1,096/mo
- 4 BR
- $1,191/mo
- Median Income
- $51,092/yr
Madison
- Studio
- $676/mo
- 1 BR
- $827/mo
- 2 BR
- $1,038/mo
- 3 BR
- $1,222/mo
- 4 BR
- $1,400/mo
- Median Income
- $64,691/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Madison cheaper to rent in?
Indianapolis-Carmel-Anderson is cheaper — a 2-bedroom Fair Market Rent is $916/mo vs $1,038/mo in Madison. That's $122/mo or $1,464/year more expensive in Madison (13% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Madison?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Madison, a 2-bedroom FMR is $1,038/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Madison?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Madison it is $64,691/year. Madison has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Madison?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Madison it is $676/mo.