Signature at Carmel
13111 Old Meridian St,
Carmel, IN 46032
Studio - 3 Beds | $1,390 - $2,639
Rental Market Trends in Carmel, IN
What is the average rent in Carmel, IN?
$1,479/month
Average Rent
788 Sq Ft
Average Apartment Size
-0.4%
Decrease in the Last Year
As of March 2025, the average rent in Carmel, IN is $1,479 per month. For comparison, the national average rent price in the US is currently $1,558/month, which means Carmel rent prices are 5% lower than the national average. When you rent an apartment in Carmel, you can expect to pay about $1,431 per month for a studio, $1,479 for a one-bedroom apartment, and around $1,763 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,142 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Carmel, IN?
In the past year, rent has decreased by 0.4%, which averages out to $6 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2025
Legend
2024
2025
Rent Ranges in Carmel, IN
Last Updated March 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
20%
$1,001 - $1,500/month
64%
$1,501 - $2,000/month
16%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Carmel?
Based on current rent prices, Downtown Carmel is the most affordable neighborhood in Carmel.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Carmel?
Based on current rent prices, Downtown Carmel is the most expensive neighborhood in Carmel.
Neighborhood
Average Rent
Average Sq Ft
Which Carmel neighborhoods have the most rentals available?
The neighborhood in Carmel with the most apartments available is Downtown Carmel .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Carmel, IN?
Because the average rent in Carmel is $1,479, you’ll want to make about $4,930 per month or $59,160 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Carmel, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare Carmel, IN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,365/month
$1,365/month
One Bedroom
$1,467/month
$1,467/month
Two Bedroom
$1,816/month
$1,816/month
Three Bedroom
$2,221/month
$2,221/month
Nearby City Rent Trends
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Birge & Held
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NTS Development
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16
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Muesing Management
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19
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Morgan Properties
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Edward Rose & Sons
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.