Indiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Indiana was $840 in 2019 according to the Census ACS survey.1 Average gross rent was $839 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Indiana median and average rent data will be released in September of 2021.
Data is also available below for Indiana rental vacancy rates, Indiana rent as a percent of median income and the fraction of renters in Indiana.
Real Gross Rent in Indiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Indiana Median Gross Rent | $840 | +0.60% | +4.48% |
Indiana Real Gross Rent Trends
At $840, real median gross rent in Indiana was at its highest level in 2019 since the series began in 2005. At $839, real average gross rent in Indiana was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Indiana: Median, Average, US Median
Real Gross Rent History for Indiana
| Date | US Median | Indiana Median | Indiana Average |
|---|---|---|---|
| 2019 | $1,097 | $840 | $839 |
| 2018 | $1,077 | $835 | $836 |
| 2017 | $1,043 | $818 | $815 |
| 2016 | $1,027 | $804 | $804 |
| 2015 | $1,017 | $804 | $806 |
| 2014 | $986 | $795 | $790 |
| 2013 | $953 | $769 | $768 |
| 2012 | $940 | $761 | $756 |
| 2011 | $941 | $764 | $764 |
| 2010 | $955 | $763 | $757 |
| 2009 | $960 | $783 | $774 |
| 2007 | $927 | $750 | $733 |
| 2005 | $910 | $769 | $755 |
Indiana Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Indiana was 6.89% according to Census ACS data.
Rental Vacancy Rate in Indiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Indiana | 6.89% | +0.30% | -0.07% |
Trends in Indiana Rental Vacancy Rate
The rental vacancy rate in Indiana peaked in 2006 at 11.17%. Since then it has fallen by 4.28% to 6.89%. Data records for this series originated in 2005. From a 2018 post peak low of 6.59%, the rental vacancy rate has increased by 0.30%.
Rental Vacancy Rate: Indiana, US
Historical Rental Vacancy Rate data for Indiana
| Date | US | Indiana |
|---|---|---|
| 2019 | 5.97% | 6.89% |
| 2018 | 6.15% | 6.59% |
| 2017 | 6.18% | 7.14% |
| 2016 | 5.89% | 6.96% |
| 2015 | 5.85% | 7.94% |
| 2014 | 6.32% | 8.09% |
| 2013 | 6.49% | 7.00% |
| 2012 | 6.77% | 8.43% |
| 2011 | 7.40% | 8.47% |
| 2010 | 8.17% | 8.78% |
| 2009 | 8.43% | 10.44% |
| 2007 | 7.87% | 9.72% |
| 2005 | 7.74% | 10.67% |
Indiana Rent as a Fraction of Income
Using median household income data for Indiana, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Indiana, median monthly gross rent as a fraction of median household income was 17.50% in 2019 according to the ACS.
Indiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Indiana | 17.50% | -0.15% | -0.12% |
Trends in Indiana Rent as a Fraction of Income
The fraction of median Indiana household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 18.43%. Since then it has fallen by 0.93% to 17.50%.
Fraction of Income towards Rent: Indiana, US
Historical Data for Annual Rent as a Fraction of Income in Indiana
| Date | US | Indiana |
|---|---|---|
| 2019 | 20.03% | 17.50% |
| 2018 | 20.50% | 17.65% |
| 2017 | 20.13% | 17.56% |
| 2016 | 20.43% | 17.62% |
| 2015 | 20.63% | 18.00% |
| 2014 | 20.89% | 18.27% |
| 2013 | 20.78% | 18.43% |
| 2012 | 20.65% | 18.27% |
| 2011 | 20.70% | 18.27% |
| 2010 | 20.50% | 18.37% |
| 2009 | 20.12% | 18.15% |
| 2007 | 18.66% | 16.14% |
| 2005 | 18.89% | 16.78% |
Renter Fraction in Indiana
You can calculate the renter fraction in Indiana in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Indiana as a fraction of total Indiana households. In 2019 30.69% of households were renters according to Census ACS data.
Indiana Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Indiana | 30.69% | -0.37% | -0.96% |
Trends in the Indiana Renter Fraction
The Indiana household renter fraction peaked in in 2015 at 31.82% and is now 1.13% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Indiana, US
History of Indiana Renter Fraction
| Date | US | Indiana |
|---|---|---|
| 2019 | 35.89% | 30.69% |
| 2018 | 36.05% | 31.06% |
| 2017 | 36.13% | 30.96% |
| 2016 | 36.88% | 31.65% |
| 2015 | 36.97% | 31.82% |
| 2014 | 36.90% | 31.42% |
| 2013 | 36.50% | 31.48% |
| 2012 | 36.09% | 30.62% |
| 2011 | 35.42% | 30.28% |
| 2010 | 34.65% | 29.71% |
| 2009 | 34.13% | 29.57% |
| 2007 | 32.80% | 28.37% |
| 2005 | 33.10% | 28.00% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
