Indianapolis, IN Rental Market Trends
Last updated: August 31, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Indianapolis is $1,268, a 0.1% decrease compared to the previous year, when the average rent was $1,269.
Studio Apartments at $1,005 offer the most budget-friendly option with 465 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 700 square feet for $1,141, balancing privacy and affordability.
Two-bedroom units at $1,335 offer 988 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,288 sq ft) for $1,568, suitable for larger households.
Average rent in Indianapolis, IN
Last updated: August 31, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,268 | 882 sq. ft. |
| Studio | $1,005 | 465 sq. ft. |
| 1 Bed | $1,141 | 700 sq. ft. |
| 2 Beds | $1,335 | 988 sq. ft. |
| 3 Beds | $1,568 | 1,288 sq. ft. |
Indianapolis, IN rent trends
What's the typical rent budget in Indianapolis, IN?
The largest share of rentals in Indianapolis, IN (60%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Indianapolis, IN?
159,622 or 44% of the households in Indianapolis, IN are renter-occupied while 203,339 or 56% are owner-occupied.
Most affordable neighborhoods in Indianapolis?
Crown Hill $784/month
University Heights $872/month
Carson Heights $928/month
All of these neighborhoods fall below the city wide average of $1,268/month.Most expensive neighborhoods in Indianapolis?
Wholesale District $1,668/month
Cole Noble $1,713/month
North Meridian $1,902/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Indianapolis, IN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| North Meridian | $1,902 |
| Cole Noble | $1,713 |
| Wholesale District | $1,668 |
| Sycamore Run | $1,644 |
| Clermont Lakes | $1,640 |
| Chatham Arch and Mass Avenue | $1,633 |
| The Canal and White River State Park | $1,621 |
| Meridian - Kessler | $1,614 |
| Riverside | $1,611 |
| Herron - Morton Place | $1,596 |
| Fletcher Place | $1,595 |
| Fountain Square | $1,571 |
| St. Joseph | $1,566 |
| Reagan Park | $1,503 |
| North Harrison Park | $1,503 |
| Mapleton - Fall Creek | $1,470 |
| Keystone at The Crossing | $1,459 |
| College Park | $1,440 |
| Broad Ripple | $1,435 |
| Southern Springs | $1,381 |
| Delaware Trails | $1,369 |
| Fairgrounds | $1,348 |
| Willow Lakes | $1,348 |
| Castleton | $1,339 |
| Valley Mills | $1,335 |
| Summerfield Place | $1,306 |
| The Park at Buffalo Creek | $1,293 |
| Bayswater - Eagles Watch | $1,290 |
| North Willow | $1,286 |
| Ivy Hills | $1,285 |
| Crooked Creek Heights | $1,284 |
| Shadow Wood South | $1,276 |
| Allisonville | $1,266 |
| Parkwood Terrace | $1,265 |
| Briarstone Villas | $1,262 |
| Marian - Cold Springs | $1,256 |
| Castle Ridge | $1,235 |
| Sherman Commons | $1,228 |
| East Avalon Hills | $1,225 |
| The Islands | $1,219 |
| The Highlands | $1,210 |
| Central Nora | $1,206 |
| Wedgewood | $1,205 |
| Lake Maxinhall Estates | $1,205 |
| Liberty Creek | $1,200 |
| Eagle Cove | $1,191 |
| Trinity Manor | $1,176 |
| Speedway Woods | $1,171 |
| Westchester Estates | $1,162 |
| Mars Hill | $1,160 |
| Christian Park | $1,157 |
| Sheffield Woods | $1,131 |
| Tempo North | $1,114 |
| Mount Auburn | $1,114 |
| Crooked Creek | $1,112 |
| Winchester Village | $1,097 |
| Park Valley Estates | $1,087 |
| Eagledale | $1,081 |
| Deer Creek | $1,072 |
| New Augusta Woods | $1,067 |
| Devington | $1,050 |
| Eastbrooke Meadows | $1,042 |
| Parc Estates | $1,040 |
| North Perry | $1,038 |
| Arlington Woods | $1,037 |
| The Old Northside | $1,035 |
| West Edgewood | $1,021 |
| Arlington Heights | $989 |
| Irvington | $966 |
| Meadows - Fall Creek | $965 |
| Otterbein | $943 |
| Carson Heights | $928 |
| University Heights | $872 |
| Crown Hill | $784 |
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Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 28% higher than in Arlington Heights
$1,266
Allisonville rent is 1% lower than Indianapolis average
Average Rent
$1,266
$989
Arlington Heights rent is 22% lower than Indianapolis average
Average Rent
$989
How Indianapolis Compares to Other Cities
| City | Average Rent |
|---|---|
| Indianapolis | $1,268 |
| New Albany | $1,114 |
| Bloomington | $1,695 |
| South Bend | $1,426 |
| Evansville | $1,027 |
| Gary | $1,010 |
| Fort Wayne | $1,193 |
| Jeffersonville | $1,259 |
| Hammond | $1,253 |
| Lafayette | $1,201 |
| Greenwood | $1,379 |
| Noblesville | $1,605 |
| Fishers | $1,667 |
| Carmel | $1,713 |
| Lawrence, IN | $1,203 |
| Avon, IN | $1,595 |
| Plainfield, IN | $1,607 |
| Brownsburg, IN | $1,661 |
| Franklin, IN | $1,483 |
| Westfield, IN | $1,710 |
| Whitestown, IN | $1,873 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Indianapolis apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.