How much does it cost to rent in Greenwood, IN?

As of July 2026, the median monthly rent in Greenwood, IN is $1,609. This figure is based on aggregated data from public sources and community-submitted rents.

Is Greenwood cheaper than other Indiana cities?

Greenwood falls in the middle range for Indiana, ranking #23 out of 65 cities at $1,609/mo.

When was Greenwood rent data last updated?

Greenwood rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · IN

Greenwood

Name: Average Rent Prices in Greenwood, IN
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 66,029·23rd most expensive in Indiana·Rental market data updated monthly for Greenwood, IN

Median rent (all units)

$1,609/mo

Year-over-Year

+3.6%

Month-over-Month

+0.9%

vs US Median

-$356

Rising (Monthly)

Be the first to discuss Greenwood rents ↓

Most AffordableMost Expensive

Greenwood · $1,609

More affordable than 69% of US cities · National median $1,965/mo

Rent Reality Score

56/100

Fairly priced

OverheatedFairGreat value

Rents are 3% below what Greenwood's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,609/mo

Expected by trend

$1,655/mo

The Rent Reality Score compares today's median rent to where Greenwood's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,015

1 BR

$1,165

2 BR

$1,365

3 BR

$1,775

4 BR+

$2,160

Research median

$1,365/mo

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

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$19,308/yr

At $1,609/mo median

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.6% YoY, +0.9% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Greenwood, IN is majority owner-occupied, 33.4% of residents hold a bachelor's degree or higher.

Population

66,029

Median income

$83,608

Median age

36.4

Renters

40.7%

Age distribution

23.5%

23.7%

25.4%

12.2%

15.3%

Under 1823.5%

18–3423.7%

35–5425.4%

55–6412.2%

65+15.3%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

75.3%

White75.3%

Black5.6%

Hispanic7.6%

Asian9.1%

Other2.4%

Education (25+)

28.2%

28.9%

33.4%

No HS diploma9.6%

HS diploma28.2%

Some college28.9%

Bachelor's+33.4%

Housing tenure

59.3%

40.7%

Owner59.3%

Renter40.7%

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

2021 vs 2026

How Greenwood, IN has changed in 5 years

Rent

$1,267 → $1,609

up 27.0%

Income

$71,159 → $83,608

up 17.5%

Population

62,914 → 66,029

up 5.0%

Renter share

38.9% → 40.7%

+1.8 pts

Bachelor's+

31.8% → 33.4%

+1.6 pts

Median age

35.8 → 36.4

+0.6 yrs

Across the past five years, the going rent in Greenwood, IN has shifted from $1,267 to $1,609, up 27.0% since 2021. Local incomes tracked alongside that move, going from a median of $71,159 in 2021 to $83,608 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Greenwood, IN adding about 3,115 residents over the five-year window, up 5.0% on net. The renter share has risen from 38.9% to 40.7%, with owner-occupied housing accounting for the remainder. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Greenwood, IN market of 2021.

Community

Discussions about Greenwood

No discussions yet. Start the conversation.

View Greenwood rent history (2015–2026) →

Salary vs rent

Can you afford rent in Greenwood on your salary?

At $1,609/mo, how Greenwood rent compares to typical pay (30% rule).

Registered Nurse

Avg $86,922/yr · Rent = 22.2% income

affordable

Elementary School Teacher

Avg $61,714/yr · Rent = 31.3% income

stretched

Police Officer

Avg $71,088/yr · Rent = 27.2% income

affordable

Software Developer

Avg $127,061/yr · Rent = 15.2% income

very comfortable

Lawyer

Avg $162,352/yr · Rent = 11.9% income

very comfortable

Firefighter

Avg $57,785/yr · Rent = 33.4% income

stretched

Truck Driver

Avg $52,173/yr · Rent = 37% income

stretched

Electrician

Avg $64,308/yr · Rent = 30% income

stretched

By apartment size

Greenwood rent by bedroom count

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

Local insights

Tips for renters in Greenwood

About renting in Greenwood, IN

Last updated: July 20, 2026

The median rent in Greenwood is $1,609/mo as of July 2026. A studio apartment averages $1,015/mo while a 2-bedroom runs $1,365/mo. One-bedroom apartments average $1,165/mo and 3-bedroom units go for $1,775/mo.

At 23% of local median household income ($83,608/yr), Greenwood ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.6% over the past year.

FAQ

Frequently asked questions

Is Greenwood an affordable city for renters?

Greenwood is considered very affordable for renters. At $1,609/mo, rent takes approximately 23% of the local median household income ($83,608/yr). The standard benchmark is 30%. Greenwood falls comfortably within that range.

How much income do you need to rent in Greenwood?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,609/mo in Greenwood. The local median household income is $83,608/yr, meaning the typical Greenwood household meets that threshold.

Is rent going up or down in Greenwood?

Rent in Greenwood has increased 3.6% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Greenwood neighborhoods have the lowest rent?

The most affordable ZIP codes in Greenwood are 46142 ($1,471/mo), and 46143 ($1,654/mo). Citywide, the median rent in Greenwood is $1,609/mo.

How does Greenwood rent compare to other cities in Indiana?

Greenwood is middle-of-the-pack for Indiana for rent, ranking #23 out of 65 tracked cities at $1,609/mo.

Which nearby cities are cheaper to rent in than Greenwood?

Several nearby cities have lower median rents than Greenwood ($1,609/mo): Beech Grove ($1,219/mo), Indianapolis ($1,411/mo).

What percentage of Greenwood residents rent vs. own?

According to Census data, approximately 40.7% of Greenwood households are renters, while 59.3% are owner-occupied. Greenwood leans toward homeownership, which can mean a smaller rental inventory.

How does Greenwood rent compare to the national average?

Greenwood's median rent of $1,609/mo is $356 (18%) below the US national median of $1,965/mo. Within Indiana, it ranks #23 out of 65 tracked cities.

Income Affordability

23%

VERY AFFORDABLE

At $1,609/mo, rent takes ~23% of Greenwood's median household income ($83,608/yr). The standard benchmark is 30%.

Greenwood 23%Benchmark 30%

State income tax3.05%

Run the Greenwood affordability calculator →

Nearby cities