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These days, finding an affordable place to live in the Rensselaer area can be challenging. Home prices in Rensselaer are now at a median cost of $187,751, lower than the Indiana average of $232,932.
The average cost of rent is $918/mo in Rensselaer, primarily driven by the current value of real estate in the Rensselaer area. In Rensselaer, 32.46% of households rent, and 43.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Rensselaer is $6,069 per month. Households that rent pay about 15.13% of their income on rent here. Rensselaer’s most expensive areas are in the northern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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- Gifford, IN: higher priced homes
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Cities with Similar Populations
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