Indianapolis, IN Rental Market Trends

Highlights

The average rent for an apartment in Indianapolis is $781, a 4% increase compared to the previous year, when the average rent was $754.

Studio apartments in Indianapolis rent for $605 a month, while 1-bedroom apartments ask on average $705 a month; the average rent for a 2-bedroom apartment is $817.

Average Rent in Indianapolis, IN

Last updated Oct 2017
All rentals Studio 1 Bed 2 Beds 3 Beds
Average Rent $781 $605 $705 $817 $974
Y-o-Y Change 4% 5% 2% 3% 3%
Average Apartment Size 886 sq. ft. 427 sq. ft. 695 sq. ft. 979 sq. ft. 1,286 sq. ft.

The average size for a Indianapolis apartment is 886 square feet, but this number varies greatly depending on apartment type. A studio averages 427 sq. ft., while a one-bedroom apartment offers a more generous square footage: 695. 2-bedroom apartments in Indianapolis have an average size of 979 sq. ft.

Indianapolis, IN Apartment Rent Ranges

  • < $5005%
  • $501-$70036%
  • $701-$1,00043%
  • $1,001-$1,50013%
  • $1,501-$2,0002%
  • > $2,0001%

Indianapolis, IN Rent Trends

Average Rent All rentals Studio 1 Bed 2 Beds 3 Beds
October 2017 $781 $605 $705 $817 $974
Jan / 2017 $766 $593 $702 $808 $959
Sept / 2016 $762 $576 $694 $799 $948
May / 2016 $754 $574 $690 $794 $944
Jan / 2016 $735 $546 $665 $782 $918
Sept / 2015 $728 $528 $662 $776 $910
May / 2015 $719 $522 $649 $755 $904
Jan / 2015 $710 $502 $648 $753 $888
Sept / 2014 $702 $493 $632 $750 $895
May / 2014 $698 $499 $631 $738 $885
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Average Rent in Indianapolis, IN By Neighborhood

Fletcher Place
$1,229
The Canal and White River State Park
$1,119
Fall Creek Highlands
$790
Trilobi Hills
$790
Crooked Creek
$770
Arlington Woods
$635
North Eastwood
$624
South Harrison Park
$623

The most affordable neighborhoods in Indianapolis are South Harrison Park, where the average rent goes for $623/month, North Eastwood, where renters pay $624/mo on average, and Arlington Woods, where the average rent goes for $635/mo. If you’re looking for other great deals, check out the listings from Crooked Creek ($770), Fall Creek Highlands ($790), and Trilobi Hills ($790), where the asking prices are below the average Indianapolis rent of $781/mo.

The most expensive neighborhoods in Indianapolis are Trilobi Hills ($790), The Canal and White River State Park ($1,119) and Fletcher Place ($1,229).

Indianapolis | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Arlington Woods is 18% lower than in Crooked Creek

$635

Arlington Woods rent is 19% lower than Indianapolis average

All rentals $635
Studio $461
1 Bed $553
2 Beds $656
3 Beds $808
$770

Crooked Creek rent is 2% lower than Indianapolis average

All rentals $770
Studio $601
1 Bed $671
2 Beds $810
3 Beds $1,006

How Does Indianapolis Compare to Nearby Cities

Average Rent Y-o-Y Change
Indianapolis $781 4%
Fort Wayne $719 4%
Elkhart $691 5%
Jeffersonville $699 4%

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

Cheapest Listings on RENTCafé

Most Expensive Listings on RENTCafé

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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