Indianapolis-Carmel-Anderson vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Indianapolis-Carmel-Anderson is 11% cheaper for renters. A 2-bedroom rents for $916/mo vs $1,021/mo in Richmond — saving $1,260/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Richmond | Difference |
|---|---|---|---|
| Studio | $568 | $669 | $101 |
| 1 Bedroom | $718 | $842 | $124 |
| 2 Bedrooms | $916 | $1,021 | $105 |
| 3 Bedrooms | $1,096 | $1,317 | $221 |
| 4 Bedrooms | $1,191 | $1,453 | $262 |
| Median Income | $51,092 | $69,914 | $18,822 |
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
Richmond
- Studio
- $669/mo
- 1 BR
- $842/mo
- 2 BR
- $1,021/mo
- 3 BR
- $1,317/mo
- 4 BR
- $1,453/mo
- Median Income
- $69,914/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Richmond cheaper to rent in?
Indianapolis-Carmel-Anderson is cheaper — a 2-bedroom Fair Market Rent is $916/mo vs $1,021/mo in Richmond. That's $105/mo or $1,260/year more expensive in Richmond (11% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Richmond?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Richmond?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Richmond it is $669/mo.