Indianapolis, IN Rental Market Trends

Highlights

The average rent for an apartment in Indianapolis is $848, a 4% increase compared to the previous year, when the average rent was $815.

Average Rent in Indianapolis, IN

Last updated Feb 2019
Average Rent Y-o-Y Change Average Apartment Size
$848 4% 886 sq. ft.

The average size for a Indianapolis, IN apartment is 886 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Indianapolis, IN Apartment Rent Ranges

  • < $5003%
  • $501-$70030%
  • $701-$1,00048%
  • $1,001-$1,50016%
  • $1,501-$2,0002%
  • > $2,0001%

Indianapolis, IN Rent Trends

Average Rent Jan / 2016 May / 2016 Sept / 2016 Jan / 2017 May / 2017 Sept / 2017 Jan / 2018 May / 2018 Feb / 2019
Indianapolis, IN $759 $777 $787 $796 $807 $815 $819 $820 $848
National $1,290 $1,319 $1,334 $1,329 $1,354 $1,366 $1,366 $1,381 $1,396
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Average Rent in Indianapolis, IN By Neighborhood

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The most affordable neighborhoods in Indianapolis are Audubon Gardens, where the average rent goes for $602/month, Bosart - Brown, where renters pay $602/mo on average, and Brookside, where the average rent goes for $602/mo. If you’re looking for other great deals, check out the listings from Brookside Sunny Grove ($602), Emerson Heights ($602), and Englewood ($602), where the asking prices are below the average Indianapolis rent of $848/mo.

The most expensive neighborhoods in Indianapolis are Woodland ($1,411), North Meridian ($1,494) and Wholesale District ($1,494).

Indianapolis | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in A V Browns Arlington Manor is 5% higher than in Addison Meadows

$1,088

A V Browns Arlington Manor rent is 28% higher than Indianapolis average

Average Rent $1,088
$1,040

Addison Meadows rent is 23% higher than Indianapolis average

Average Rent $1,040

How Does Indianapolis Compare to Nearby Cities

Average Rent Y-o-Y Change
Indianapolis $848 4%
Fort Wayne $756 4%
Jeffersonville $739 3%
Elkhart $747 5%

For more information about the Indianapolis rental trends, check out our monthly rent report

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Indianapolis apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

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