Indianapolis-Carmel-Anderson vs Waco
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Waco is 19% cheaper for renters. A 2-bedroom rents for $770/mo vs $916/mo in Indianapolis-Carmel-Anderson — saving $1,752/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Waco | Difference |
|---|---|---|---|
| Studio | $568 | $530 | $38 |
| 1 Bedroom | $718 | $629 | $89 |
| 2 Bedrooms | $916 | $770 | $146 |
| 3 Bedrooms | $1,096 | $988 | $108 |
| 4 Bedrooms | $1,191 | $1,119 | $72 |
| Median Income | $51,092 | $40,886 | $10,206 |
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
Waco
- Studio
- $530/mo
- 1 BR
- $629/mo
- 2 BR
- $770/mo
- 3 BR
- $988/mo
- 4 BR
- $1,119/mo
- Median Income
- $40,886/yr
Frequently Asked Questions
Is Indianapolis-Carmel-Anderson or Waco cheaper to rent in?
Waco is cheaper — a 2-bedroom Fair Market Rent is $770/mo vs $916/mo in Indianapolis-Carmel-Anderson. That's $146/mo or $1,752/year more expensive in Indianapolis-Carmel-Anderson (19% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Waco?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Waco, a 2-bedroom FMR is $770/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Waco?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Waco it is $40,886/year. Indianapolis-Carmel-Anderson has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Waco?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Waco it is $530/mo.