Arbor Lakes Apartments
22538 Pine Arbor Dr,
Elkhart, IN 46516
1-2 Beds | $982 - $1,679
Rental Market Trends in Elkhart, IN
What is the average rent in Elkhart, IN?
$938/month
Average Rent
694 Sq Ft
Average Apartment Size
+5.1%
Increase in the Last Year
As of February 2025, the average rent in Elkhart, IN is $938 per month. This is 40% lower than the national average rent of $1,556/month, making renting in Elkhart more affordable than most cities in the US. When you rent an apartment in Elkhart, you can expect to pay about $701 per month for a studio, $938 for a one-bedroom apartment, and around $1,110 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,078 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 Elkhart, IN?
In the past year, rent has increased by 5.1%, which averages out to $49 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in Elkhart, IN
Last Updated February 2025
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
53%
$700 - $1,000/month
41%
$1,001 - $1,500/month
3%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Elkhart?
Based on current rent prices, Tipton Area, Indiana and Sherman are the most affordable neighborhoods in Elkhart.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Elkhart?
Based on current rent prices, State St/Division St Hist District, North Elkhart and South Elkhart are the most expensive neighborhoods in Elkhart.
Neighborhood
Average Rent
Average Sq Ft
Which Elkhart neighborhoods have the most rentals available?
The neighborhoods in Elkhart with the most apartments available are South Elkhart, North Elkhart and State St/Division St Hist District .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Elkhart, IN?
Because the average rent in Elkhart is $938, you’ll want to make about $3,126 per month or $37,512 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.
Cost of Living
The cost of living in Elkhart, IN is 7.0% lower than the national average. Generally, housing in Elkhart is 25.2% less expensive than the national average, with rent falling between $701 - $1,110. You can expect to pay 1.0% less for groceries, 8.3% less for utilities, and 1.4% more for transportation.
How does Elkhart, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare Elkhart, 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
-
$1,095/month
One Bedroom
-
$1,306/month
Two Bedroom
-
$1,507/month
Three Bedroom
-
$2,795/month
Nearby City Rent Trends
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Methodology
† 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.
* Percentages may not total 100 due to rounding.