Rentometer, Inc. | Data as of 10/22/2025
Richmond, Indiana offers a balanced mix of historic charm and modern convenience, making it a welcoming destination for renters seeking both community feel and easy access to amenities. The city’s picturesque downtown district, anchored by the historic Richmond Art Museum and a vibrant selection of boutique shops and eateries, appeals to professionals and families alike. Nearby neighborhoods such as West Richmond and the College Hill area, home to Earl and College, provide quiet residential streets while remaining within walking distance of parks, the Whitewater River trail system, and the popular Richmond Raceway complex.
The rental market reflects this diversity, with apartments and single‑family homes catering to a range of lifestyle needs. One‑bedroom apartments generally fall in the $800‑$900 range, while larger three‑bedroom homes can reach the $1,200‑$1,300 bracket, offering competitive options for both young adults and growing families. Renters will find well‑maintained multifamily buildings in the downtown core, as well as spacious houses on tree‑lined streets in historic districts like the Old Richmond neighborhood, where classic architecture meets contemporary updates.
Beyond housing, Richmond’s strong sense of community is reinforced by cultural events, local farmers’ markets, and easy access to nearby higher‑education institutions and healthcare facilities. Outdoor enthusiasts enjoy the nearby State Recreation Areas and bike-friendly routes, while commuters benefit from the city’s proximity to major highways and the Amtrak station. This blend of affordability, convenience, and vibrant local life makes Richmond a compelling choice for anyone looking to settle in a friendly Midwestern city.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $901 | $825 | $615 - $1,495 | $750 - $900 |
| Apartment | 2 Bedroom | $997 | $915 | $625 - $1,695 | $885 - $950 |
| Apartment | 3 Bedroom | $1,026 | $1,010 | $825 - $1,295 | $975 - $1,025 |
| House | 2 Bedroom | $861 | $850 | $550 - $1,250 | $750 - $975 |
| House | 3 Bedroom | $1,270 | $1,295 | $800 - $2,000 | $950 - $1,500 |
| House | 4+ Bedroom | $1,167 | $1,095 | $408 - $2,000 | $408 - $2,000 |
In the current period, the average rent in Richmond was
$841 for 1 Bedroom,
$902 for 2 Bedroom,
$1,230 for 3 Bedroom, and
$988 for 4+ Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.