selected.
of neighborhoods selected. We’ll search anywhere in .
Start your Carmel apartment search!
Select how many bedrooms you want.
S
Studio
1
Bed
2
Beds
3+
Beds
What are you looking to pay?
Where are you looking to move?
Please enter a location.
Where do you work or go to school?
We'll show you how far the commute is
to the places you go to the most.
Please enter a location or skip.
I want to live within
How do you get there?
I drive (without traffic)
I drive (in traffic)
I ride public transit
I bike
What do you prefer?
On-site laundry
In-unit laundry
Washer/dryer connections
What about parking?
Garage
Parking
What other features do you want?
Hardwood Floors
Dishwasher
Air Conditioning
Patio/Balcony
Pool
Gym
What pets do you have?
Dog
Cat
I care most about
Getting all my features
Staying in the location I want
Having the cheapest price
Don’t worry, this won’t remove any matches
About when would you like to move in?
1
I’m just looking
2
I want to move, but I’m not in a hurry
3
I need to move, but can be a little flexible
4
I’ve gotta move!
What lease length are you looking to sign?
Are you signing a lease with anyone else?
A cosigner
Roommates, partner, etc.
Me, myself, and I
What's your monthly household income, before taxes?
Be sure to include the total income from all adults.
(We use this to save you time & help you find rents you will qualify for.)
Great! Your income qualifies you for the rent you chose.
So you know, apartments typically require your monthly income to be 2-3x the rent. Exact income requirements may vary, so always double-check with the apartment.
Apartments require 2-3x the rent in monthly income
Your monthly income only qualifies for a max rent of . Do you want to change your max rent?
Yes
Yes. Set my max rent to
No
No, I'll stick with
Did you know apartments require 2-3x the rent in monthly income?
Depending on your exact income you may not qualify for all apartments up to $500.
Have you been evicted?
No
I've never been evicted
Yes
I've been evicted
How did you hear about Apartment List?
Please select all that apply.
Google
Billboard
TV / Streaming Video
Facebook
Postcard / Snail Mail
Radio / Streaming Audio
Friend or Family
Other
Let’s find that perfect home
We’ll get started finding you the best out there. But first, let’s learn a little more about you.
Renters love us!
We’re rated 4.5 out of 5 because renters have so much success finding places they love.
Oops! Please enter an email.
Welcome to Apartment List
Looks like you've been here before. Welcome back.
Please log in to use this email.
Invalid email or password.
We've sent a password reset email with instructions to
You can close this window
Make your results better
Personalize your results by telling us what you think of your first three matches.
Get pre-qualified for top apartments
Apartments typically require your monthly income to be 2-3x the rent. Based on what you’d like to pay, you should make around or more.
Yes
I make about per month
No
I want to adjust my rent

347 Cheap Apartments for rent in Carmel, IN

Last updated October 18 at 2:06am UTC
Carmel Landing Apartments
2223 E 151st St
Carmel, IN
Updated October 17 at 11:51pm UTC
1 Bedroom
$788
2 Bedrooms
$908
3 Bedrooms
$1,056
The Village on Spring Mill
14637 Handel Dr
Carmel, IN
Updated October 17 at 11:51pm UTC
1 Bedroom
$890
2 Bedrooms
$955
3 Bedrooms
$1,335
32 Cricket Knoll
Cricket Knoll
Carmel, IN
Updated September 26 at 12:32am UTC
1 Bedroom
$895
Results within 1 miles of Carmel, IN

October 2018 Carmel Rent Report

Welcome to the October 2018 Carmel Rent Report. Carmel rents increased over the past month. In this report, we'll evaluate trends in the Carmel rental market, including comparisons to cities throughout the state and nation.

View full Carmel Rent Report
Rent Report
Carmel

October 2018 Carmel Rent Report

Welcome to the October 2018 Carmel Rent Report. Carmel rents increased over the past month. In this report, we'll evaluate trends in the Carmel rental market, including comparisons to cities throughout the state and nation.

Carmel rents increased significantly over the past month

Carmel rents have increased 0.5% over the past month, and have increased moderately by 3.7% in comparison to the same time last year. Currently, median rents in Carmel stand at $990 for a one-bedroom apartment and $1,230 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in June. Carmel's year-over-year rent growth leads the state and national averages, which both stand at 0.9%.

Rents rising across cities in Indiana

Throughout the past year, rent increases have been occurring not just in the city of Carmel, but across the entire state. Of the largest 10 cities that we have data for in Indiana, all of them have seen prices rise. The state as a whole logged rent growth of 0.9% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Carmel is the most expensive of all Indiana's major cities, with a median two-bedroom rent of $1,230; of the 10 largest Indiana cities that we have data for, all have seen rents rise year-over-year, with Noblesville experiencing the fastest growth (+4.9%).
  • Carmel, Mishawaka, and Greenwood have all experienced year-over-year growth above the state average (3.7%, 3.1%, and 2.3%, respectively).

Carmel rents more affordable than many large cities nationwide

As rents have increased moderately in Carmel, a few large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Carmel is still more affordable than most large cities across the country.

  • Carmel's median two-bedroom rent of $1,230 is slightly above the national average of $1,180. Nationwide, rents have grown by 0.9% over the past year compared to the 3.7% increase in Carmel.
  • While Carmel's rents rose moderately over the past year, the city of Seattle saw a decrease of 1.6%.
  • Renters will find more reasonable prices in Carmel than most large cities. For example, San Francisco has a median 2BR rent of $3,110, which is more than two-and-a-half times the price in Carmel.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Indianapolis $690 $860 -0.0% 1.2%
Carmel $990 $1,230 0.5% 3.7%
Fishers $960 $1,190 -0.2% 0.4%
Noblesville $820 $1,010 -0.1% 4.9%
Greenwood $730 $900 0.3% 2.3%
Plainfield $780 $970 0.7% 2.1%
Zionsville $1,240 $1,530 -2.1% 0.4%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.