Rents are 7% below what Anderson's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,088 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
March. Asking rents in Anderson usually run 0.7% below trend in March and 1% above it in July, about $18 a month apart at today's median. Based on 5 years of data.
Rent in Anderson is at its highest level since Zillow's records here began in December 2020.
Rent in Anderson changed +3.6% over the year to September 2026. Across the 49 Indiana cities Zillow tracks, the typical change was +4.5%.
Rent has risen 6 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($46,909) is $1,173 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,100); a 3-bedroom is $1,433.
The priciest of 3 ZIP codes in Anderson, 46012 ($1,207/mo), costs 22% more than the cheapest, 46016 ($988/mo).
New Castle, 21 miles away, rents for 22% less ($854/mo), about $2,800 a year in savings.
From Zillow's monthly rent index (ZORI) for Anderson. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Anderson, IN is majority owner-occupied, has a median income below the national average, 15.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Anderson, IN has changed in 5 years
The median rent in Anderson, IN stood at $733 in 2021 and currently runs about $1,088, reflecting a 48.4% increase over the period. Census figures show median household income at $46,909 today, compared with $40,632 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.7% since 2021, moving from about 54,459 residents to roughly 55,367. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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At $1,088/mo, how Anderson rent compares to typical pay (30% rule).
Anderson rent by bedroom count
Median rent for each apartment size in Anderson. Click any size for full breakdown.
Tips for renters in Anderson
Last updated: October 17, 2026
The median rent in Anderson is $1,088/mo as of October 2026. A studio apartment averages $793/mo while a 2-bedroom runs $1,100/mo. One-bedroom apartments average $868/mo and 3-bedroom units go for $1,433/mo.
At 28% of local median household income ($46,909/yr), Anderson ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.6% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Anderson?
At $1,088/mo, rent takes ~28% of Anderson's median household income ($46,909/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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