22 Apartments under $600 for rent in Terre Haute, IN
August 2019 Terre Haute Rent Report
Welcome to the August 2019 Terre Haute Rent Report. Terre Haute rents increased over the past month. In this report, we'll evaluate trends in the Terre Haute rental market, including comparisons to cities throughout the state and nation.
August 2019 Terre Haute Rent Report
Welcome to the August 2019 Terre Haute Rent Report. Terre Haute rents increased over the past month. In this report, we'll evaluate trends in the Terre Haute rental market, including comparisons to cities throughout the state and nation.
Terre Haute rents held steady over the past month
Terre Haute rents have remained steady over the past month, but are down moderately by 1.3% year-over-year. Currently, median rents in Terre Haute stand at $577 for a one-bedroom apartment and $734 for a two-bedroom. Terre Haute's year-over-year rent growth lags the state average of 1.3%, as well as the national average of 1.6%.
Rents rising across cities in Indiana
While rent decreases have been occurring in the city of Terre Haute over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in all of the largest 10 cities in Indiana for which we have data. The state as a whole logged rent growth of 1.3% 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 $1,236; of the 10 largest Indiana cities that we have data for, all have seen rents rise year-over-year, with Carmel experiencing the fastest growth (+2.1%).
- Fishers, Indianapolis, and Muncie have all experienced year-over-year growth above the state average (1.9%, 1.7%, and 1.4%, respectively).
Terre Haute rents more affordable than many large cities nationwide
As rents have fallen moderately in Terre Haute, many large cities nationwide have seen prices increase, in some cases substantially. Terre Haute is also more affordable than most large cities across the country.
- Terre Haute's median two-bedroom rent of $734 is below the national average of $1,191. Nationwide, rents have grown by 1.6% over the past year compared to the 1.3% decline in Terre Haute.
- While rents in Terre Haute fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+3.7%), Dallas (+2.1%), and New York (+1.8%).
- Renters will find more reasonable prices in Terre Haute than most large cities. For example, San Francisco has a median 2BR rent of $3,126, which is more than four times the price in Terre Haute.
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.
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.