Muse Carmel
1685 E 116th St,
Carmel, IN 46032
$1,320 - $3,390
Studio - 2 Beds
Rental Market Trends in Carmel, IN
What is the average rent in Carmel, IN?
$1,469/month
Average Rent
787 Sq Ft
Average Apartment Size
+0.1%
Increase in the Last Year
As of September 2025, the average rent in Carmel, IN is $1,469 per month. For comparison, the national average rent price in the US is currently $1,639/month, which means Carmel rent prices are 10% lower than the national average. When you rent an apartment in Carmel, you can expect to pay about $1,514 per month for a studio, $1,469 for a one-bedroom apartment, and around $1,808 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,180 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Carmel, IN?
In the past year, rent has increased by 0.1%, which averages out to $1 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated September 2025
Legend
2024
2025
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Carmel?
Based on current rent prices, Thornhurst, Village Farms and The Village on Springmill are the most affordable neighborhoods in Carmel.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Carmel?
Based on current rent prices, Carmel Arts and Design District, Johnson and Alexandria are the most expensive neighborhoods in Carmel.
Neighborhood
Average Rent
Average Sq Ft
Which Carmel neighborhoods have the most rentals available?
The neighborhoods in Carmel with the most apartments available are Downtown Carmel, Carmel Arts and Design District and Johnson .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Carmel, IN?
Because the average rent in Carmel is $1,469, you’ll want to make about $4,896 per month or $58,752 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Carmel, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare Carmel, IN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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Three Bedroom
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Nearby City Rent Trends
Apartment communities in Carmel we think you'll love
Property Management Companies in Carmel, IN
Buckingham Companies
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35
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10,704
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22
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7 Communities in Carmel
Barrett & Stokely
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41
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9,587
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18
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Gene B. Glick Company
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36
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8,935
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21
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5 Communities in Carmel
Hunt Pacific Management Corporation
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17
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3,569
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13
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4 Communities in Carmel
Birge & Held
-
100
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21,461
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49
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3 Communities in Carmel
Cityscape Residential
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13
Communities
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3,103
Units
-
10
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3 Communities in Carmel
NTS Development
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17
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-
5,255
Units
-
9
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3 Communities in Carmel
Muesing Management
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20
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3,839
Units
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4
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3 Communities in Carmel
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2025.
* Percentages may not total 100 due to rounding.