Downtown Indianapolis, Indianapolis, IN Rental Market Trends
Last updated: October 19, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Indianapolis is $1,619, a 2.67% increase compared to the previous year, when the average rent was $1,577.
Studio Apartments at $1,309 offer the most budget-friendly option with 537 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 742 square feet for $1,492, balancing privacy and affordability.
Two-beedroom units at $1,902 offer 1,106 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,458 sq ft) for $2,972, suitable for larger households.
Average rent in Downtown Indianapolis, Indianapolis, IN
Last updated: October 19, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,619 | 843 sq. ft. |
| Studio | $1,309 | 537 sq. ft. |
| 1 Bed | $1,492 | 742 sq. ft. |
| 2 Beds | $1,902 | 1,106 sq. ft. |
| 3 Beds | $2,972 | 1,458 sq. ft. |
Downtown Indianapolis, Indianapolis, IN rent trends
Rental prices in Downtown Indianapolis, Indianapolis, IN have increased by 2.67% over the past year. The average rent moved from $1,577 to $1,619.
What's the typical rent budget in Downtown Indianapolis, Indianapolis, IN?
The largest share of rentals in Downtown Indianapolis, Indianapolis, IN (43%) 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 Downtown Indianapolis, Indianapolis, IN?
7,222 or 77% of the households in Downtown Indianapolis, Indianapolis, IN are renter-occupied while 2,170 or 23% are owner-occupied.
Most affordable neighborhoods in Downtown Indianapolis?
Crown Hill $769/month
Meadows - Fall Creek $865/month
Biltmore Gardens $870/month
All of these neighborhoods fall below the city wide average of $1,253/month.Most expensive neighborhoods in Downtown Indianapolis?
Wholesale District $1,714/month
North Meridian $1,750/month
Fall Creek and 16th Street Park $2,013/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Indianapolis, IN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Fall Creek and 16th Street Park | $2,013 |
| North Meridian | $1,750 |
| Wholesale District | $1,714 |
| Chatham Arch and Mass Avenue | $1,700 |
| Herron - Morton Place | $1,650 |
| The Canal and White River State Park | $1,643 |
| Sycamore Run | $1,638 |
| Fountain Square | $1,622 |
| Clermont Lakes | $1,621 |
| Oxbow Estates | $1,608 |
| Meridian - Kessler | $1,598 |
| Fletcher Place | $1,588 |
| Cole Noble | $1,557 |
| Devonshire | $1,515 |
| North Harrison Park | $1,513 |
| College Park | $1,489 |
| Greenbrooke | $1,485 |
| St. Joseph | $1,478 |
| Sonesta | $1,465 |
| Reagan Park | $1,464 |
| Keystone at The Crossing | $1,435 |
| Sherman Commons | $1,433 |
| Broad Ripple | $1,429 |
| Mapleton - Fall Creek | $1,386 |
| Southern Springs | $1,385 |
| Valley Mills | $1,372 |
| Delaware Trails | $1,348 |
| Fairgrounds | $1,343 |
| Castleton | $1,339 |
| Summerfield Place | $1,327 |
| Chapel Hill | $1,320 |
| Crooked Creek Heights | $1,319 |
| Bayswater - Eagles Watch | $1,311 |
| North Willow | $1,278 |
| The Park at Buffalo Creek | $1,275 |
| Castle Ridge | $1,273 |
| Allisonville | $1,266 |
| Trinity Manor | $1,259 |
| Briarstone Villas | $1,242 |
| Willow Lakes | $1,241 |
| Fall Creek Manor | $1,237 |
| East Avalon Hills | $1,230 |
| Laura Templetons | $1,226 |
| Lake Maxinhall Estates | $1,225 |
| Eagle Cove | $1,216 |
| Parkwood Terrace | $1,211 |
| Shadow Wood South | $1,204 |
| The Islands | $1,201 |
| The Highlands | $1,194 |
| Mount Auburn | $1,194 |
| Rosewood | $1,192 |
| Tempo North | $1,182 |
| Ivy Hills | $1,181 |
| Liberty Creek | $1,174 |
| Wedgewood | $1,161 |
| Winchester Village | $1,161 |
| Mars Hill | $1,159 |
| Central Nora | $1,156 |
| Westchester Estates | $1,151 |
| Speedway Woods | $1,148 |
| Eastbrooke Meadows | $1,136 |
| I65 - South Emerson | $1,130 |
| Crooked Creek | $1,121 |
| Marian - Cold Springs | $1,114 |
| Sheffield Woods | $1,076 |
| West Edgewood | $1,070 |
| Arlington Woods | $1,066 |
| New Augusta Woods | $1,063 |
| Eagledale | $1,043 |
| Devington | $1,041 |
| North Perry | $1,040 |
| Deer Creek | $1,037 |
| The Old Northside | $1,028 |
| Park Valley Estates | $1,027 |
| East Gate | $1,003 |
| Otterbein | $998 |
| Watson's | $986 |
| Parc Estates | $975 |
| Irvington | $968 |
| Arlington Heights | $951 |
| Glicks East 38th St | $942 |
| Christian Park | $925 |
| University Heights | $907 |
| Carson Heights | $898 |
| Biltmore Gardens | $870 |
| Meadows - Fall Creek | $865 |
| Crown Hill | $769 |
/
/
Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 33% higher than in Arlington Heights
$1,266
Allisonville rent is 22% lower than Indianapolis average
Average Rent
$1,266
$951
Arlington Heights rent is 41% lower than Indianapolis average
Average Rent
$951
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 Downtown 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.