Department of Numbers

Indiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Indiana was $758 in 2015 according to the Census ACS survey.1 Average gross rent was $760 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Indiana median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Indiana (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Indiana Median Gross Rent $758 +1.20% +5.72%

Indiana Real Gross Rent Trends

At $758, real median gross rent in Indiana was at its highest level in 2015 since the series began in 2005. At $760, real average gross rent in Indiana was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Indiana: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Indiana

Date US Median Indiana Median Indiana Average
2015 $959 $758 $760
2014 $930 $749 $744
2013 $898 $725 $724
2012 $886 $717 $713
2011 $887 $720 $720
2010 $901 $719 $713
2009 $905 $738 $730
2008 $920 $748 $735
2007 $874 $707 $691
2006 $883 $739 $723
2005 $858 $725 $712

Indiana Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Indiana was 7.94% according to Census ACS data.

Rental Vacancy Rate in Indiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Indiana 7.94% -0.15% -0.49%

Trends in Indiana Rental Vacancy Rate

The rental vacancy rate in Indiana peaked in 2006 at 11.17%. Since then it has fallen by 3.23% to 7.94%. Data records for this series originated in 2005. From a 2013 post peak low of 7.00%, the rental vacancy rate has increased by 0.94%.

Rental Vacancy Rate: Indiana, US

Rental vacancy rate in Indiana

Historical Rental Vacancy Rate data for Indiana

Date US Indiana
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%
2008 7.86% 9.02%
2007 7.87% 9.72%
2006 7.70% 11.17%
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 18.00% in 2015 according to the ACS.

Indiana Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Indiana 18.00% -0.27% -0.26%

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 0.43% to 18.00%.

Fraction of Income towards Rent: Indiana, US

Percent of median household income going towards median monthly gross rent in Indiana

Historical Data for Annual Rent as a Fraction of Income in Indiana

Date US Indiana
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%
2008 19.00% 16.76%
2007 18.66% 16.14%
2006 18.90% 16.87%
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 2015 31.82% of households were renters according to Census ACS data.

Indiana Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Indiana 31.82% +0.40% +1.20%

Trends in the Indiana Renter Fraction

At 31.82%, the 2015 household based renter fraction in Indiana was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Indiana, US

Fraction of renters in Indiana

History of Indiana Renter Fraction

Date US Indiana
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%
2008 33.36% 28.17%
2007 32.80% 28.37%
2006 32.73% 27.88%
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.