Average Rent in Anderson, IN↓ Rents falling 7.5% YoY

Anderson, IN has rental prices ranging from $759/month to $1,397/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $803/month — 43% below the national average of $1,400/month. With a median household income of $77,065/year, spending $803/month on a 1-bedroom represents 13% of gross income — within the recommended 30% threshold.

How Anderson Compares

With an average 2-bedroom rent of $1,054/month, Anderson ranks #15 most expensive of the 77 cities tracked in Indiana — pricier than 71% of all US cities in our data.

The Anderson Rental Market

The Anderson, IN area has a population of about 2,106,327 and 33% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Anderson, IN have fallen by $86/month (7.5%) over the past year, from $1,140 to $1,054. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Anderson, IN without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $32,120. The local median household income of $77,065 exceeds that threshold by $44,945, making Anderson relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Anderson, IN is $138,513, giving a price-to-rent ratio of 11.0. The break-even point between renting and buying is roughly 11 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Is Anderson, IN Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Anderson?

Break-even analysis and mortgage estimates based on local market data.

Living in Anderson

Cost of living, job market, crime rates, and moving cost estimates.