Rental market snapshot for Carmel, Indiana

Carmel, Indiana Rental Property Market Overview

Carmel, Indiana is a vibrant city located in the heart of the Midwest. With a population of 100,777 as of 2021, according to the US Census, Carmel is a bustling city with plenty of activities and attractions. The city is known for its thriving arts and culture scene, with numerous galleries, museums, and performing arts venues. It also boasts a variety of shopping, dining, and entertainment options, as well as a variety of recreational activities. Carmel is a great place to live, work, and play.

The average rent for an apartment in Carmel is $1,655. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by -7.0% over the past year.

Last Updated January 31, 2023

Average monthly rent graph in Carmel Indiana | Cost of Living

  • The most expensive ZIP Code in Carmel is 46033 with an average price of $2,040
  • The cheapest ZIP Code in Carmel is 46032 with an average price of $1,594

Carmel ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
146033$2,040
246032$1,706

Live near Carmel, Indiana's Top Sights and Attractions

Greenway Monon is a scenic, multi-use trail located in a suburban area of Indiana. The trail stretches for over 10 miles, winding through wooded areas and past several parks, ponds, and other natural attractions. It is a popular spot for walking, running, biking, and rollerblading. The trail is also lined with benches and picnic tables, making it a great spot for a leisurely stroll or a picnic lunch.

Monon Trail is a popular outdoor attraction in Carmel, Indiana. It is a multi-use trail that runs for 18 miles, connecting the northern and southern parts of the city. The trail is paved and is used by pedestrians, cyclists, and rollerbladers. Along the trail, visitors can enjoy scenic views of nature, including wooded areas, wetlands, and wildlife. There are also several parks and other recreational areas located along the trail, making it a great spot for a leisurely stroll or a more active workout.

Central Park is a beautiful outdoor space located in Carmel, Indiana. It features a large lake, walking trails, and plenty of green space for visitors to enjoy. There are also several playgrounds, picnic areas, and a disc golf course. The park also has a variety of wildlife, including ducks, geese, and other birds. Central Park is a great place to spend the day with family and friends, and it's a great spot for a peaceful stroll.

Midtown Plaza Carmel is a vibrant outdoor shopping and entertainment destination located in the heart of a bustling city. Visitors can enjoy a variety of shops, restaurants, and entertainment venues, all within walking distance of each other. The plaza also features a large fountain, a carousel, and a stage for live performances. With its convenient location and wide variety of attractions, Midtown Plaza Carmel is a great place to spend an afternoon or evening.

The Monon Greenway Trail Carmel is a scenic, paved trail that winds through the city of Carmel, Indiana. It is a popular spot for outdoor activities such as walking, running, biking, and rollerblading. The trail is lined with trees and lush vegetation, providing a peaceful and tranquil atmosphere. Along the way, visitors can enjoy views of local wildlife, ponds, and creeks. The trail also passes by several parks, playgrounds, and other attractions, making it a great place to explore and enjoy the outdoors.

Central Park East Woods is a picturesque nature preserve located in a suburban area. It features a variety of trails and paths that wind through the woods, providing visitors with a peaceful and tranquil escape from the hustle and bustle of everyday life. The park is filled with lush vegetation and wildlife, including a variety of birds, mammals, and reptiles. Visitors can explore the trails and paths, take in the sights and sounds of nature, and enjoy a picnic in the park. The park also features a playground and a pond, making it a great spot for families to spend the day.

Hagan Burke Trail is a scenic walking trail located in a picturesque setting. The trail is approximately 1.5 miles long and is surrounded by lush greenery, wildflowers, and trees. It features a variety of terrains, including wooded areas, meadows, and wetlands. Along the trail, visitors can enjoy views of a lake, a waterfall, and a variety of wildlife. The trail is also a great spot for birdwatching, as it is home to a variety of species. Additionally, the trail is well-maintained and offers a variety of amenities, such as benches, picnic tables, and restrooms.

Homage to Hoagy is a unique attraction located in a small town in the Midwest. It is a tribute to Hoagy Carmichael, a famous composer and singer from the early 20th century. The attraction features a replica of Hoagy's childhood home, a museum filled with memorabilia from his life and career, and a performance space where visitors can enjoy live music. There is also a gift shop where visitors can purchase souvenirs and other items related to Hoagy's life and music.

Kawachinagano Japanese Garden is a tranquil oasis tucked away in the heart of Indiana. The garden features a tranquil pond, a traditional Japanese tea house, and a variety of lush plants and trees. Visitors can enjoy a peaceful stroll along winding paths, admire the beauty of the koi fish in the pond, and take in the serene atmosphere of the garden. The garden also features a variety of sculptures, stone lanterns, and a bridge, all of which add to the peaceful atmosphere.

Meadowlark Park is a scenic outdoor attraction located in a picturesque setting. It features a variety of activities, including a large lake for fishing, a playground, and a walking trail. The park also has a picnic area, a gazebo, and a pavilion for special events. The park is surrounded by lush trees and lush green grass, making it a great place to relax and enjoy nature.

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Carmel, Indiana area median rent change by ZIP Code map

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How does Carmel compare to other cities in Indiana ?

citymedian price
Bargersville$1,865
Granger$1,613
Muncie$900
Brownsburg$1,810
Wilkinson$1,045
Pittsboro$1,649
Upland$635
Richmond$559

Average household income in Carmel area graph - US Census

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The median household income in Carmel in 2021 was $115,109. This represents a 8.5% change from 2011 when the median was $106,071.

#categorypercent
0Less than $10,0001.9%
1$10,000 to $14,9991.0%
2$15,000 to $19,9991.3%
3$20,000 to $24,9991.7%
4$25,000 to $29,9991.6%
5$30,000 to $34,9992.2%
6$35,000 to $39,9992.5%
7$40,000 to $44,9992.7%
8$45,000 to $49,9992.3%
9$50,000 to $59,9996.2%
10$60,000 to $74,9999.9%
11$75,000 to $99,99910.3%
12$100,000 to $124,99910.0%
13$125,000 to $149,9998.1%
14$150,000 to $199,99914.2%
15$200,000 or more24.1%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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