Where is the cheapest rent in Indiana?

The cheapest rent in Indiana is in Fort Wayne, IN, where a 2-bedroom averages $1,113/month and a 1-bedroom $916/month in 2026 (HUD Fair Market Rent). Next cheapest: Indianapolis ($1,473).

How much can I save renting in Indiana's cheapest cities?

By choosing Indiana's cheapest city over the state average, you could save $180/month or $2,160/year on rent.

What income do I need to rent in Indiana's cheapest cities?

To afford the cheapest 2BR in Indiana at $1,113/month, you need approximately $44,520/year based on the 30% of income guideline.

Cheapest Cities to Rent in Indiana (2026)

The cheapest rent in Indiana is in Fort Wayne, IN, where a 2-bedroom averages $1,113/mo and a 1-bedroom $916/mo (2026 HUD Fair Market Rent) — $180/mo below the Indiana average 2BR of $1,293. The table below ranks all 2 of the cheapest cities to rent in Indiana.

$1,113

Cheapest 2BR

$1,293

State Average 2BR

$180

Monthly Savings

$2,160

Yearly Savings

Top 2 Cheapest Cities in Indiana

Ranked by 2-bedroom rent price (lowest first)

Rank	City	Studio	1 Bed	2 Bed	3 Bed	Income Needed
#1	Fort Wayne, IN	$892	$916	$1,113	$1,381	$44,520/yr
#2	Indianapolis, IN	$1,118	$1,267	$1,473	$1,907	$58,920/yr

Why These Indiana Cities Are Affordable

Indiana ranks among the most affordable states for renters. Indianapolis offers city living at fraction of coastal prices, while smaller cities provide exceptional value for those prioritizing low costs.

Below-average housing costs: These cities have housing indices lower than the state average of 80
Lower demand: Smaller populations and less competitive markets keep prices reasonable
Diverse housing stock: Mix of older and newer buildings provides options at various price points
Regional economies: Local job markets support working populations without coastal-city premiums

Income Requirements

Using the standard 30% of income guideline, here's what you need to earn to afford rent in Indiana's cheapest cities:

#1: Fort Wayne

2BR: $1,113/mo requires $44,520/year

#2: Indianapolis

2BR: $1,473/mo requires $58,920/year

How Indiana's Cheapest Cities Compare

vs State Average

-$180/mo

cheaper than Indiana average

vs National Average

-$287/mo

cheaper than US average

Cost of Living Index

Below national average (100)

What to Consider Before Moving

Best For

✓Budget-conscious renters
✓Healthcare professionals
✓Manufacturing workers
✓Young professionals seeking value

Considerations

•Limited major metros
•Cold winters
•Fewer cultural amenities than coastal cities