Indianapolis-Carmel-Anderson vs Sioux Falls
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Sioux Falls is 9% cheaper for renters. A 2-bedroom rents for $837/mo vs $916/mo in Indianapolis-Carmel-Anderson — saving $948/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Sioux Falls | Difference |
|---|---|---|---|
| Studio | $568 | $544 | $24 |
| 1 Bedroom | $718 | $672 | $46 |
| 2 Bedrooms | $916 | $837 | $79 |
| 3 Bedrooms | $1,096 | $1,012 | $84 |
| 4 Bedrooms | $1,191 | $1,129 | $62 |
| Median Income | $51,092 | $55,443 | $4,351 |
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
Sioux Falls
- Studio
- $544/mo
- 1 BR
- $672/mo
- 2 BR
- $837/mo
- 3 BR
- $1,012/mo
- 4 BR
- $1,129/mo
- Median Income
- $55,443/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Sioux Falls cheaper to rent in?
Sioux Falls is cheaper — a 2-bedroom Fair Market Rent is $837/mo vs $916/mo in Indianapolis-Carmel-Anderson. That's $79/mo or $948/year more expensive in Indianapolis-Carmel-Anderson (9% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Sioux Falls?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Sioux Falls, a 2-bedroom FMR is $837/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Sioux Falls?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Sioux Falls it is $55,443/year. Sioux Falls has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Sioux Falls?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Sioux Falls it is $544/mo.