Indianapolis-Carmel-Anderson vs Springfield
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Springfield is 27% cheaper for renters. A 2-bedroom rents for $720/mo vs $916/mo in Indianapolis-Carmel-Anderson — saving $2,352/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Springfield | Difference |
|---|---|---|---|
| Studio | $568 | $490 | $78 |
| 1 Bedroom | $718 | $583 | $135 |
| 2 Bedrooms | $916 | $720 | $196 |
| 3 Bedrooms | $1,096 | $925 | $171 |
| 4 Bedrooms | $1,191 | $987 | $204 |
| Median Income | $51,092 | $37,539 | $13,553 |
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
Springfield
- Studio
- $490/mo
- 1 BR
- $583/mo
- 2 BR
- $720/mo
- 3 BR
- $925/mo
- 4 BR
- $987/mo
- Median Income
- $37,539/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Springfield cheaper to rent in?
Springfield is cheaper — a 2-bedroom Fair Market Rent is $720/mo vs $916/mo in Indianapolis-Carmel-Anderson. That's $196/mo or $2,352/year more expensive in Indianapolis-Carmel-Anderson (27% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Springfield?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Springfield, a 2-bedroom FMR is $720/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Springfield?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Springfield it is $37,539/year. Indianapolis-Carmel-Anderson has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Springfield?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Springfield it is $490/mo.