Indianapolis in top 10 metro areas for biggest hikes in rent price

INDIANAPOLIS (WISH) — Data shows Indianapolis is in the top 10 metropolitan areas experiencing the fastest year-over-year growth in rent prices.

That’s according to realtor.com’s May rental report.

The new numbers rank Indianapolis as fourth with 7.3% growth. That puts the median rent for an apartment at $1,331 in the area.

The jump is compared to a drop seen nationally. The United States is seeing its first annual rent decline in the last three years nationwide. Nationally, the median rent for a two bedroom in the U.S. fell half a percent from May of 2022 to $1,923. A one-bedroom is $6 higher at $1,628.