Indianapolis-Carmel-Anderson vs Springfield
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Springfield is 21% cheaper for renters. A 2-bedroom rents for $756/mo vs $916/mo in Indianapolis-Carmel-Anderson — saving $1,920/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Springfield | Difference |
|---|---|---|---|
| Studio | $568 | $519 | $49 |
| 1 Bedroom | $718 | $612 | $106 |
| 2 Bedrooms | $916 | $756 | $160 |
| 3 Bedrooms | $1,096 | $923 | $173 |
| 4 Bedrooms | $1,191 | $1,067 | $124 |
| Median Income | $51,092 | $44,958 | $6,134 |
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
- $519/mo
- 1 BR
- $612/mo
- 2 BR
- $756/mo
- 3 BR
- $923/mo
- 4 BR
- $1,067/mo
- Median Income
- $44,958/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Springfield cheaper to rent in?
Springfield is cheaper — a 2-bedroom Fair Market Rent is $756/mo vs $916/mo in Indianapolis-Carmel-Anderson. That's $160/mo or $1,920/year more expensive in Indianapolis-Carmel-Anderson (21% 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 $756/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 $44,958/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 $519/mo.