Finding an affordable place to live in Indiana can be challenging, but the Hoosier State offers several options. This guide explores the cheapest places to live in Indiana, focusing on cities with average rents below the state median of $1,190.
We’ll delve into what makes these cities affordable and highlight major employers and attractions so you get the full picture on life in each town. Whether you’re a student, a young professional, or simply someone looking for a cost-effective living option, this guide will help you find the perfect place in Indiana.
1. Muncie
Average rent: $728
Muncie is one of the most affordable cities in Indiana, with an average rent of just $728. Studio apartments in Muncie rent for an average of $595, one-bedroom units average $695, and two-bedroom apartments are around $895.
A huge employer in Muncie is Ball State University, providing plenty of jobs and a great college town atmosphere. Free and cheap attractions abound, like the beautiful Minnetrista cultural center and the Muncie Children’s Museum. The Cardinal Greenway offers miles of scenic trails perfect for walking, biking, and running.
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2. Anderson
Average rent: $731
Anderson follows closely with an average rent of $731. Studio apartments rent for $462, one-bedroom units average $783, and two-bedroom apartments are around $949.
Two of the city’s larger employers include Nestlé, and Anderson University. For entertainment, residents frequent Mounds State Park, known for its Native American earthworks, or enjoy a day at the Anderson Museum of Art. The White River Greenway provides a scenic route for outdoor activities.
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3. Gary
Average rent: $805
Gary offers an average rent of $805, with studio apartments renting for $699, one-bedroom units at $812, and two-bedroom apartments averaging $905.
Gary’s major employers include the Gary Community School Corporation and U.S. Steel. Locals love Indiana Dunes National Park, which offers beautiful beaches and hiking trails. The Gary Aquatorium and the nearby Marquette Park are also popular, cost-effective destinations for the whole family.
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4. Terre Haute
Average rent: $834
Terre Haute offers an average rent of $834, with studio apartments renting for $667, one-bedroom units at $817, and two-bedroom apartments averaging $1,017.
One of the most significant employers in the area is the highly respected Indiana State University. On days off, Terre Haute locals can be found at the Swope Art Museum and the Vigo County Historical Museum. Griffin Bike Park is a popular destination for outdoorsy types, offering free access to various trails and facilities.
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5. Evansville
Average rent: $853
With an average rent of $853, Evansville is another affordable Indiana city. Studio apartments in Evansville rent for $792, one-bedroom units average $777, and two-bedroom apartments are around $990.
Two of the top employers in Evansville are University of Southern Indiana, and Berry Global. To unwind, residents like to visit the Mesker Park Zoo and Botanic Garden or enjoy a stroll along the Pigeon Creek Greenway. The Evansville Museum of Arts, History & Science offers free admission on select days.
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6. South Bend
Average rent: $854
South Bend’s average rent is $854, with studio apartments renting for $505, one-bedroom units at $931, and two-bedroom apartments averaging $1,127.
As the home of the University of Notre Dame, many South Bend locals are directly employed by the university or bolstered by the student body. Attractions like the South Bend Museum of Art and Potawatomi Zoo are solid budget-friendly experiences for any age.
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7. Kokomo
Average rent: $888
In addition to being undeniably fun to say, Kokomo’s average rent is $888. As a budget-friendly city in Indiana, studio apartments rent for $715, one-bedroom units average $912, and two-bedroom apartments are around $1,037.
Key employers in Kokomo include Stellantis and the Kokomo School Corporation. Residents enjoy free and low-cost attractions like the Kokomo Opalescent Glass Factory and the Elwood Haynes Museum.
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8. Jeffersonville
Average rent: $947
Jeffersonville’s average rent is $947, with studio apartments renting for $887, one-bedroom units at $909, and two-bedroom apartments averaging $1,044.
One of the more significant employers in Jeffersonville is Norton Clark Hospital. For entertainment, try walking the path on the Big Four Bridge, which connects to Louisville, Kentucky. The Falls of the Ohio State Park provides an excellent atmosphere for outdoor activities and is known for its fossil beds.
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9. Lafayette
Average rent: $1,022
Lafayette offers an average rent of $1,022, with studio apartments renting for $739, one-bedroom units at $984, and two-bedroom apartments averaging $1,343.
One of the largest employers in Lafayette is Purdue University, which provides the community with plenty of jobs and one of the best college town atmospheres in Indiana. Attractions like the Columbian Park Zoo and the Tippecanoe Battlefield offer free or inexpensive entertainment options.
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10. Columbus
Average rent: $1,077
With an average rent of $1,077, Columbus is an affordable place to live in Indiana. Studio apartments rent for $730, one-bedroom units average $1,172, and two-bedroom apartments are around $1,330.
Columbus’s major employers include Cummins Inc., Columbus Regional Health, and Faurecia. Residents enjoy the city’s architectural landmarks and the many parks and green spaces. Mill Race Park offers beautiful scenery and a range of recreational activities, all for free or at a low cost.
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Methodology
All cities must have over 50,000 residents per the US Census and have an average rent price under the median rent price for the state – which is $1,190 per month according to Redfin data. Average rental data from Rent.com July 2024.
