Source: Circle of Lights presented by IBEW 481
INDIANAPOLIS — You have probably noticed a higher cost of living in the Circle City, and one report now shows that Indianapolis has seen a greater increase in rent prices than many other populated metro areas.
According to Construction Coverage, an insurance and research organization, rent prices in the Indianapolis metro grew more than 27% over the last year.
Price changes were calculated based on “the percentage change in median rent from 2023 to 2024.”
Source: Photo Courtesy of Construction Coverage / constructioncoverage.com
The current median rent price in the Indianapolis metro is nearly $1,500 per month. That metro is comprised of the areas near Indy, Carmel, and Anderson.
Other “large metros” around the country that have experienced significant increases in rent costs include Memphis, Baltimore, Chicago, and Miami. By contrast, prices in Houston have gone up by less than 1%.
Get more information about the full study here.
Source: Photo Courtesy of Construction Coverage / constructioncoverage.com
