Rentometer, Inc. | Data as of 10/22/2025
Richmond’s metro area offers a diverse rental landscape that balances historic charm with modern convenience. Downtown’s revitalized streets feature renovated lofts and classic apartments within walking distance of the Richmond Art Museum, the historic County Courthouse, and a thriving culinary scene. Families and professionals alike appreciate the easy access to major employers, the scenic Whitewater River trail system, and the vibrant campus life of Earlham College, all of which contribute to a dynamic community atmosphere.
The rental market reflects a range of options across property types. One‑bedroom apartments generally fall in the $800s, while two‑bedroom units hover around the $900s and three‑bedroom apartments approach the $1,000 mark. For those seeking more space, two‑bedroom houses are also priced in the $800s, three‑bedroom homes typically sit in the $1,200s, and larger four‑plus‑bedroom houses range from the $1,600s up to the $2,000 range. These figures illustrate Richmond’s reputation for affordable yet quality housing, making it an attractive destination for first‑time renters and growing families.
Beyond the numbers, Richmond’s neighborhoods each have their own distinct personality. The historic Old Main district offers tree‑lined streets and classic brick homes, while the Riverfront area provides contemporary developments with river views and easy bike‑path access. Proximity to cultural venues, parks, and reputable schools ensures that renters can enjoy both a tranquil residential setting and the lively amenities of a growing Midwestern city.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $845 | $825 | $510 - $1,495 | $615 - $900 |
| Apartment | 2 Bedroom | $980 | $915 | $625 - $1,695 | $875 - $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 | $1,260 | $1,250 | $800 - $2,000 | $950 - $1,500 |
| House | 4+ Bedroom | $1,613 | $1,547 | $408 - $2,950 | $1,095 - $2,950 |
In the current period, the average rent in Richmond, IN was
$799 for 1 Bedroom,
$901 for 2 Bedroom,
$1,224 for 3 Bedroom, and
$1,249 for 4+ Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.