Studio Apartment Rent in Richmond, IN
Median asking rent for a studio apartment in Richmond, Indiana as of July 2026. That's +18% lower than the citywide median of $870 and +45% below the national studio median of $1,290.
Income needed for a studio in Richmond
Using the standard 30% rent-to-income guideline (the threshold above which households are considered rent-burdened), here's what you need to earn to comfortably afford a studio at the current median rent.
Rent by apartment size in Richmond
Compare Richmond's median rent across every apartment size.
Cheapest cities for a studio in Indiana
| # | City | Studio rent |
|---|---|---|
| 1 | Frankfort | $517 |
| 2 | Crawfordsville | $644 |
| 3 | Marion | $650 |
| 4 | East Chicago | $670 |
| 5 | Michigan City | $700 |
| 6 | Richmond (this page) | $710 |
| 7 | Delphi | $720 |
| 8 | Angola | $730 |
| 9 | New Castle | $730 |
| 10 | Muncie | $735 |
| 11 | Mishawaka | $740 |
| 12 | Logansport | $770 |
| 13 | South Bend | $775 |
| 14 | Kokomo | $780 |
| 15 | Evansville | $792 |
Most expensive cities for a studio in Indiana
| # | City | Studio rent |
|---|---|---|
| 1 | Zionsville | $1,390 |
| 2 | Whitestown | $1,330 |
| 3 | Carmel | $1,327 |
| 4 | McCordsville | $1,210 |
| 5 | Lawrence | $1,205 |
| 6 | Avon | $1,190 |
| 7 | Westfield | $1,180 |
| 8 | Fishers | $1,170 |
| 9 | Brownsburg | $1,120 |
| 10 | Sellersburg | $1,100 |
| 11 | Granger | $1,070 |
| 12 | Noblesville | $1,050 |
| 13 | Columbus | $1,045 |
| 14 | Munster | $1,040 |
| 15 | Plainfield | $1,030 |
Nearby cities — studio rent
Considering nearby alternatives? 1 of these cities have cheaper studio rents than Richmond.
| City | Distance | Studio rent | vs Richmond |
|---|---|---|---|
| Greenville, OH | 24.7 mi | $660 | $-50 (-7%) |
| Oxford, OH | 25.6 mi | $860 | +$150 (+21%) |
| New Castle, IN | 33.8 mi | $730 | +$20 (+3%) |
| Hamilton, OH | 35.8 mi | $830 | +$120 (+17%) |
| Trenton, OH | 36.6 mi | $1,130 | +$420 (+59%) |
| Middletown, OH | 39.2 mi | $830 | +$120 (+17%) |
| Fairfield, OH | 42 mi | $950 | +$240 (+34%) |
| Muncie, IN | 43.8 mi | $735 | +$25 (+4%) |
| Miamisburg, OH | 44.6 mi | $930 | +$220 (+31%) |
| Forest Park, OH | 45.2 mi | $1,020 | +$310 (+44%) |
| Franklin, OH | 45.7 mi | $840 | +$130 (+18%) |
| West Carrollton, OH | 46.5 mi | $800 | +$90 (+13%) |
Studio rent in Richmond — common questions
How much is a studio apartment in Richmond?
As of July 2026, the median studio apartment rent in Richmond, Indiana is $710 per month. This is +18% below the citywide median of $870.
What income do you need to afford a studio in Richmond?
Using the standard 30% rent-to-income rule, you would need an annual income of about $28,400 ($2,367/month gross), which works out to roughly $13.65/hour at a full-time job.
Is Richmond expensive for a studio compared to the rest of the US?
Richmond's studio median of $710 is +45% below the national studio median of $1,290. It ranks in the 3th percentile of US cities tracked.
How does Richmond rank for studio rent in Indiana?
Among the 63 cities in Indiana with studio data, Richmond ranks #6 from cheapest to most expensive.
Are there cheaper studio options near Richmond?
Yes — nearby cities with cheaper studio rents include Greenville ($660).