Rents are right about where Valparaiso'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 $1,459 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
Rent in Valparaiso is at its highest level since Zillow's records here began in January 2022.
Rent in Valparaiso changed +4.2% over the year to September 2026. Across the 49 Indiana cities Zillow tracks, the typical change was +4.5%.
Rent has risen 3 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($69,872) is $1,747 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,720).
Michigan City, 19 miles away, rents for 21% less ($1,146/mo), about $3,800 a year in savings.
From Zillow's monthly rent index (ZORI) for Valparaiso. 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
Valparaiso, IN is majority owner-occupied, 40.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Valparaiso, IN has changed in 5 years
Across the past five years, the going rent in Valparaiso, IN has shifted from $1,207 to $1,459, up 20.9% since 2022. Local incomes tracked alongside that move, going from a median of $56,465 in 2021 to $69,872 more recently. Census counts show Valparaiso, IN adding about 913 residents over the five-year window, up 2.7% on net. The renter share has eased from 46.2% to 42%, 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 Valparaiso, IN market of 2022.
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Can you afford rent in Valparaiso on your salary?
At $1,459/mo, how Valparaiso rent compares to typical pay (30% rule).
Valparaiso rent by bedroom count
Median rent for each apartment size in Valparaiso. Click any size for full breakdown.
Tips for renters in Valparaiso
Last updated: October 17, 2026
The median rent in Valparaiso is $1,459/mo as of October 2026. A studio apartment averages $930/mo while a 2-bedroom runs $1,295/mo. One-bedroom apartments average $1,065/mo and 3-bedroom units go for $1,595/mo.
At 25% of local median household income ($69,872/yr), Valparaiso ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.
Frequently asked questions
How much income do you need to rent in Valparaiso?
Is rent going up or down in Valparaiso?
Which Valparaiso neighborhoods have the lowest rent?
How does Valparaiso rent compare to other cities in Indiana?
At $1,459/mo, rent takes ~25% of Valparaiso's median household income ($69,872/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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