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City Report · IN

Charlestown

Pop. 8,294·20th most expensive in Indiana·Rental market data updated monthly for Charlestown, IN
Median rent (all units)
$1,636/mo
Year-over-Year
Stable
Month-over-Month
+1.5%
vs US Median
-$329
Rising (Monthly)
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Most AffordableMost Expensive
Charlestown · $1,636
More affordable than 67% of US cities · National median $1,965/mo
Affordability
25% of income
AFFORDABLE
0%30% benchmark60%+

At $1,636/mo, rent takes about 25% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$65,000/yr
Local median income
$77,288/yr
Based on the 30%-of-income rule using Charlestown's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$910
1 BR
$990
2 BR
$1,200
3 BR
$1,550
4 BR+
$1,790
Research median
$1,200/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$19,632/yr
At $1,636/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +1.5% MoM), not inventory.
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Demographics

Who lives here

Charlestown, IN is majority owner-occupied, has a large share of families with children, 25.7% of residents hold a bachelor's degree or higher.

Population
8,294
Median income
$77,288
Median age
32.9
Renters
22.6%
Age distribution
29.1%
22%
26.2%
Under 1829.1%
18–3422%
35–5426.2%
55–6411.6%
65+11.1%
Gender
44.8%
55.2%
Male44.8%
Female55.2%
Race & ethnicity
81.9%
12.3%
White81.9%
Black4.1%
Hispanic12.3%
Asian0.7%
Other1%
Education (25+)
29.4%
35.1%
25.7%
No HS diploma9.8%
HS diploma29.4%
Some college35.1%
Bachelor's+25.7%
Housing tenure
77.4%
22.6%
Owner77.4%
Renter22.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Charlestown, IN has changed in 5 years

Income
$58,987 → $77,288
up 31.0%
Population
7,859 → 8,294
up 5.5%
Renter share
27.6% → 22.6%
-5.0 pts
Bachelor's+
19.9% → 25.7%
+5.8 pts
Median age
36.6 → 32.9
-3.7 yrs

Median household income grew from $58,987 to $77,288 between 2021 and 2024, a 31.0% shift. Headcount in the area went from 7,859 to 8,294 between 2021 and 2024, a 5.5% change. About 22.6% of households rent today, against 27.6% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 19.9% to 25.7%.

Community

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View Charlestown rent history (2015–2026) →
Salary vs rent

Can you afford rent in Charlestown on your salary?

At $1,636/mo, how Charlestown rent compares to typical pay (30% rule).

By apartment size

Charlestown rent by bedroom count

Median rent for each apartment size in Charlestown. Click any size for full breakdown.

Local insights

Tips for renters in Charlestown

About renting in Charlestown, IN

Last updated: July 20, 2026

The median rent in Charlestown is $1,636/mo as of July 2026. A studio apartment averages $910/mo while a 2-bedroom runs $1,200/mo. One-bedroom apartments average $990/mo and 3-bedroom units go for $1,550/mo.

At 25% of local median household income ($77,288/yr), Charlestown ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Charlestown an affordable city for renters?

Charlestown is considered affordable for renters. At $1,636/mo, rent takes approximately 25% of the local median household income ($77,288/yr). The standard benchmark is 30%. Charlestown falls comfortably within that range.

How much income do you need to rent in Charlestown?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (~$31/hour full-time) to afford the median rent of $1,636/mo in Charlestown. The local median household income is $77,288/yr, meaning the typical Charlestown household meets that threshold.

Is rent going up or down in Charlestown?

Rent in Charlestown has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Charlestown rent compare to other cities in Indiana?

Charlestown is one of the pricier cities in Indiana for rent, ranking #20 out of 65 tracked cities at $1,636/mo.

Which nearby cities are cheaper to rent in than Charlestown?

Several nearby cities have lower median rents than Charlestown ($1,636/mo): Clarksville ($1,242/mo), Sellersburg ($1,303/mo), Jeffersonville ($1,310/mo).

What percentage of Charlestown residents rent vs. own?

According to Census data, approximately 22.6% of Charlestown households are renters, while 77.4% are owner-occupied. Charlestown leans toward homeownership, which can mean a smaller rental inventory.

How does Charlestown rent compare to the national average?

Charlestown's median rent of $1,636/mo is $329 (17%) below the US national median of $1,965/mo. Within Indiana, it ranks #20 out of 65 tracked cities.
Income Affordability
25%
AFFORDABLE

At $1,636/mo, rent takes ~25% of Charlestown's median household income ($77,288/yr). The standard benchmark is 30%.

Charlestown 25%Benchmark 30%
State income tax3.05%
Run the Charlestown affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Charlestown, IN

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