Rents are right about where Kokomo's 10-year trend predicts.
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 $1,099 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
January. Asking rents in Kokomo usually run 1% below trend in January and 1.3% above it in September, about $25 a month apart at today's median. Based on 8 years of data.
Rent in Kokomo is at its highest level since Zillow's records here began in June 2017.
Rent in Kokomo changed +7.3% over the year to September 2026. Across the 49 Indiana cities Zillow tracks, the typical change was +4.5%.
From 2019 to 2024, rent in Kokomo rose 54.2% while median household income rose 20.9% ($45,797 to $55,360). Rent outpaced income.
Rent in Kokomo is 64.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 7 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($55,360) is $1,384 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,245); a 4-bedroom is $1,395.
Logansport, 23 miles away, rents for 28% less ($795/mo), about $3,600 a year in savings.
From Zillow's monthly rent index (ZORI) for Kokomo. 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
Kokomo, IN is majority owner-occupied, has a median income below the national average, 18.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Kokomo, IN has changed in 5 years
The median rent in Kokomo, IN stood at $694 in 2021 and currently runs about $1,099, reflecting a 58.4% increase over the period. Local incomes tracked alongside that move, going from a median of $51,450 in 2021 to $55,360 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 37% of households, compared with 33.9% five years ago. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Kokomo, IN market of 2021.
Discussions about Kokomo
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Can you afford rent in Kokomo on your salary?
At $1,099/mo, how Kokomo rent compares to typical pay (30% rule).
Kokomo rent by bedroom count
Median rent for each apartment size in Kokomo. Click any size for full breakdown.
Tips for renters in Kokomo
Last updated: October 17, 2026
The median rent in Kokomo is $1,099/mo as of October 2026. A studio apartment averages $780/mo while a 2-bedroom runs $990/mo. One-bedroom apartments average $790/mo and 3-bedroom units go for $1,245/mo.
At 24% of local median household income ($55,360/yr), Kokomo ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.3% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Kokomo?
At $1,099/mo, rent takes ~24% of Kokomo's median household income ($55,360/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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