Indianapolis, IN Rental Market Trends

What is the average rent in Indianapolis?

The average rent for an apartment in Indianapolis is $1,259. The cost of rent varies depending on several factors, including location, size, and quality.

Average rent in Indianapolis, IN

Last updated May 2025

Average Rent	Average Apartment Size
$1,259	881 sq. ft.

What is the average apartment size in Indianapolis?

The average size for a Indianapolis, IN apartment is 881 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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

Indianapolis, IN Occupied Housing Units

160,653 or 45% of the households in Indianapolis, IN are renter-occupied while 199,012 or 55% are owner-occupied.

Indianapolis, IN rent trends

Access comprehensive real estate data and information on Yardi Matrix

Average Rent in Indianapolis, IN By Neighborhood

City	Average Rent
Fall Creek and 16th Street Park	$1,909
North Meridian	$1,878
Chatham Arch and Mass Avenue	$1,711
Wholesale District	$1,689
Sycamore Run	$1,620
Fountain Square	$1,607
Herron - Morton Place	$1,605
Oxbow Estates	$1,596
Clermont Lakes	$1,595
Meridian - Kessler	$1,589
The Canal and White River State Park	$1,582
North Harrison Park	$1,565
Fletcher Place	$1,557
Cole Noble	$1,535
College Park	$1,511
Devonshire	$1,500
St. Joseph	$1,470
Broad Ripple	$1,461
Delaware Trails	$1,454
Valley Mills	$1,453
Reagan Park	$1,438
Keystone at The Crossing	$1,434
Southern Springs	$1,409
Chapel Hill	$1,394
Greenbrooke	$1,379
Castleton	$1,368
Fairgrounds	$1,360
Mapleton - Fall Creek	$1,349
Sonesta	$1,348
Bayswater - Eagles Watch	$1,335
Summerfield Place	$1,327
The Park at Buffalo Creek	$1,326
Briarstone Villas	$1,314
Castle Ridge	$1,310
North Willow	$1,303
Wedgewood	$1,290
Allisonville	$1,277
Trinity Manor	$1,266
Fall Creek Manor	$1,261
Crooked Creek Heights	$1,257
Ivy Hills	$1,243
East Avalon Hills	$1,238
Shadow Wood South	$1,229
Willow Lakes	$1,225
Rosewood	$1,220
Laura Templetons	$1,217
The Islands	$1,215
The Highlands	$1,206
Lake Maxinhall Estates	$1,205
Eagle Cove	$1,203
Parkwood Terrace	$1,195
Liberty Creek	$1,189
Mars Hill	$1,185
Sherman Commons	$1,180
I65 - South Emerson	$1,167
Mount Auburn	$1,165
Westchester Estates	$1,162
Winchester Village	$1,161
Central Nora	$1,154
Speedway Woods	$1,153
Arlington Woods	$1,146
Tempo North	$1,141
Crooked Creek	$1,131
Marian - Cold Springs	$1,114
Sheffield Woods	$1,113
Eastbrooke Meadows	$1,094
New Augusta Woods	$1,075
Eagledale	$1,073
North Perry	$1,061
Deer Creek	$1,048
West Edgewood	$1,041
The Old Northside	$1,032
Carson Heights	$1,030
Devington	$1,029
Park Valley Estates	$1,011
Otterbein	$992
East Gate	$989
Glicks East 38th St	$989
Parc Estates	$989
Watson's	$978
Irvington	$958
University Heights	$901
Meadows - Fall Creek	$897
Biltmore Gardens	$878
Arlington Heights	$873
Christian Park	$850
Crown Hill	$809

What are the most affordable neighborhoods in Indianapolis?

The most affordable neighborhoods in Indianapolis are Crown Hill, where the average rent goes for $809/month, Christian Park, where renters pay $850/mo on average, and Arlington Heights, where the average rent goes for $873/mo. If you’re looking for other great deals, check out the listings from Biltmore Gardens ($878), Meadows - Fall Creek ($897), and University Heights ($901), where the asking prices are below the average Indianapolis rent of $1,259/mo.

What are the most expensive neighborhoods in Indianapolis?

The most expensive neighborhoods in Indianapolis are Chatham Arch and Mass Avenue ($1,711), North Meridian ($1,878) and Fall Creek and 16th Street Park ($1,909).

What are the most popular neighborhoods in Indianapolis?

The most popular neighborhood in Indianapolis is Valley Mills, where there are 12 listings with an average rent of $1,453. Next up is Eagledale, where apartments go for $1,073/month, followed by Liberty Creek with $1,189 If you’re looking to rent in Indianapolis’s most popular neighborhoods, make sure to also check out Castleton, where renters pay $1,368 on average, and Broad Ripple, where the average monthly rent is $1,461.

Indianapolis | Rent Comparison by Neighborhood

Rent in Allisonville is 46% higher than in Arlington Heights

$1,277

Allisonville rent is 2% higher than Indianapolis average

Average Rent $1,277

$873

Arlington Heights rent is 31% lower than Indianapolis average

Average Rent $873

How Indianapolis Compares to Other Cities

State	Average Rent
Indianapolis	$1,259
Fort Wayne	$1,161
Greenwood	$1,326
Bloomington	$1,644
Evansville	$1,053
Lafayette	$1,141
New Albany	$1,097
South Bend	$1,303
Jeffersonville	$1,221
Carmel	$1,634
Hammond	$1,200
Noblesville	$1,569
Fishers	$1,610
Avon	$1,531
Lawrence	$1,207
Plainfield	$1,538
Franklin	$1,418
Camby, IN	$1,464
Westfield, IN	$1,687
Whitestown, IN	$1,702
Greenfield, IN	$1,348

What is the average price for a storage unit in Indianapolis?

The average rent for a non-climate-controlled 10'x10' storage unit in Indianapolis is $103.95. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.