Rentometer, Inc. | Data as of 10/22/2025
Kokomo’s rental market offers a balanced mix of apartments and single‑family homes, catering to a broad spectrum of renters from young professionals to growing families. Apartment options dominate the downtown corridor and along the historic North Main Street, where studios and one‑bedroom units provide convenient access to cafés, boutique shops, and the Kokomo Convention Center. Larger apartment complexes on the city’s east side feature two‑ and three‑bedroom layouts, appealing to roommates and small families seeking modern amenities within a short commute to major employers.
For those preferring the space and privacy of a house, Kokomo’s residential neighborhoods such as the Oak Ridge and Oakwood districts present a variety of layouts from modest one‑bedroom bungalows to expansive four‑plus bedroom homes near the Kokomo Reservoir and the Indiana University Kokomo campus. Rental rates reflect this diversity: studio apartments generally sit in the $770s, while one‑bedroom units—both apartments and houses—range from the mid‑$800s to the low‑$900s. Two‑bedroom apartments and homes typically fall into the $1,000‑$1,100 range, and larger family homes command rates in the $1,400‑$2,300 bracket, depending on size and location.
Beyond pricing, Kokomo’s appeal lies in its blend of Midwestern charm and growing amenities. Proximity to the Wabash River, a revitalized downtown entertainment district, and a strong community focus on education and outdoor recreation make the city an attractive destination for renters seeking both affordability and quality of life. Whether you’re searching for a compact studio near the university or a spacious home close to nature, Kokomo’s rental landscape offers options that suit a wide array of lifestyle needs.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $774 | $775 | $625 - $1,100 | $685 - $844 |
| Apartment | 1 Bedroom | $936 | $847 | $600 - $1,476 | $770 - $1,106 |
| Apartment | 2 Bedroom | $1,084 | $952 | $600 - $1,976 | $845 - $1,305 |
| Apartment | 3 Bedroom | $1,112 | $1,047 | $825 - $1,579 | $979 - $1,300 |
| House | 1 Bedroom | $824 | $850 | $599 - $1,000 | $724 - $950 |
| House | 2 Bedroom | $1,044 | $1,000 | $700 - $1,850 | $900 - $1,100 |
| House | 3 Bedroom | $1,456 | $1,300 | $586 - $3,200 | $1,200 - $1,599 |
| House | 4+ Bedroom | $2,278 | $1,837 | $1,100 - $6,500 | $1,450 - $2,500 |
In the current period, the average rent in Kokomo was $774 for Studio, $906 for 1 Bedroom, $1,061 for 2 Bedroom, $1,437 for 3 Bedroom, and $1,741 for 4+ Bedroom.
Data provided by Rentometer, Inc.