Indianapolis-Carmel-Anderson vs Milwaukee-Waukesha
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Indianapolis-Carmel-Anderson is 3% cheaper for renters. A 2-bedroom rents for $916/mo vs $941/mo in Milwaukee-Waukesha — saving $300/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Milwaukee-Waukesha | Difference |
|---|---|---|---|
| Studio | $568 | $640 | $72 |
| 1 Bedroom | $718 | $760 | $42 |
| 2 Bedrooms | $916 | $941 | $25 |
| 3 Bedrooms | $1,096 | $1,181 | $85 |
| 4 Bedrooms | $1,191 | $1,384 | $193 |
| Median Income | $51,092 | $63,161 | $12,069 |
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
Milwaukee-Waukesha
- Studio
- $640/mo
- 1 BR
- $760/mo
- 2 BR
- $941/mo
- 3 BR
- $1,181/mo
- 4 BR
- $1,384/mo
- Median Income
- $63,161/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Milwaukee-Waukesha cheaper to rent in?
Indianapolis-Carmel-Anderson is cheaper — a 2-bedroom Fair Market Rent is $916/mo vs $941/mo in Milwaukee-Waukesha. That's $25/mo or $300/year more expensive in Milwaukee-Waukesha (3% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Milwaukee-Waukesha?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Milwaukee-Waukesha, a 2-bedroom FMR is $941/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Milwaukee-Waukesha?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Milwaukee-Waukesha it is $63,161/year. Milwaukee-Waukesha has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Milwaukee-Waukesha?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Milwaukee-Waukesha it is $640/mo.