Downtown Indianapolis, Indianapolis, IN Rental Market Trends
Last updated: April 22, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Indianapolis is $1,663, a 1.36% increase compared to the previous year, when the average rent was $1,641.
Studio Apartments at $1,289 offer the most budget-friendly option with 537 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 743 square feet for $1,526, balancing privacy and affordability.
Two-beedroom units at $1,966 offer 1,118 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,456 sq ft) for $2,958, suitable for larger households.
Average rent in Downtown Indianapolis, Indianapolis, IN
Last updated: April 22, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,663 | 852 sq. ft. |
| Studio | $1,289 | 537 sq. ft. |
| 1 Bed | $1,526 | 743 sq. ft. |
| 2 Beds | $1,966 | 1,118 sq. ft. |
| 3 Beds | $2,958 | 1,456 sq. ft. |
Downtown Indianapolis, Indianapolis, IN rent trends
Rental prices in Downtown Indianapolis, Indianapolis, IN have increased by 1.36% over the past year. The average rent moved from $1,641 to $1,663.
What's the typical rent budget in Downtown Indianapolis, Indianapolis, IN?
The largest share of rentals in Downtown Indianapolis, Indianapolis, IN (44%) 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 $799/month
University Heights $904/month
Glicks East 38th St $944/month
All of these neighborhoods fall below the city wide average of $1,266/month.Most expensive neighborhoods in Downtown Indianapolis?
Clermont Lakes $1,638/month
Sycamore Run $1,672/month
North Meridian $1,861/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 | $1,861 |
| Sycamore Run | $1,672 |
| Clermont Lakes | $1,638 |
| Wholesale District | $1,627 |
| Meridian - Kessler | $1,617 |
| Chatham Arch and Mass Avenue | $1,616 |
| Fountain Square | $1,612 |
| Fletcher Place | $1,581 |
| Herron - Morton Place | $1,577 |
| The Canal and White River State Park | $1,576 |
| St. Joseph | $1,547 |
| North Harrison Park | $1,478 |
| College Park | $1,460 |
| Keystone at The Crossing | $1,451 |
| Broad Ripple | $1,450 |
| Reagan Park | $1,441 |
| Mapleton - Fall Creek | $1,414 |
| Fairgrounds | $1,379 |
| Bayswater - Eagles Watch | $1,377 |
| Southern Springs | $1,369 |
| Delaware Trails | $1,354 |
| Castleton | $1,348 |
| Valley Mills | $1,342 |
| Crooked Creek Heights | $1,333 |
| The Park at Buffalo Creek | $1,331 |
| Summerfield Place | $1,327 |
| North Willow | $1,318 |
| Shadow Wood South | $1,309 |
| Castle Ridge | $1,281 |
| Parkwood Terrace | $1,263 |
| Ivy Hills | $1,259 |
| Marian - Cold Springs | $1,256 |
| Willow Lakes | $1,224 |
| Lake Maxinhall Estates | $1,213 |
| Allisonville | $1,209 |
| Wedgewood | $1,203 |
| Tempo North | $1,202 |
| Sherman Commons | $1,202 |
| Central Nora | $1,200 |
| Mount Auburn | $1,186 |
| Eagle Cove | $1,185 |
| Liberty Creek | $1,180 |
| Speedway Woods | $1,179 |
| The Highlands | $1,174 |
| Westchester Estates | $1,164 |
| Mars Hill | $1,159 |
| I65 - South Emerson | $1,148 |
| The Islands | $1,133 |
| Winchester Village | $1,121 |
| Sheffield Woods | $1,095 |
| Arlington Woods | $1,090 |
| Eagledale | $1,088 |
| Eastbrooke Meadows | $1,085 |
| Crooked Creek | $1,084 |
| North Perry | $1,079 |
| Devington | $1,078 |
| Deer Creek | $1,063 |
| New Augusta Woods | $1,059 |
| West Edgewood | $1,058 |
| Watson's | $1,053 |
| The Old Northside | $1,046 |
| Parc Estates | $1,013 |
| Otterbein | $1,007 |
| Arlington Heights | $969 |
| Meadows - Fall Creek | $963 |
| Carson Heights | $960 |
| Glicks East 38th St | $944 |
| University Heights | $904 |
| Crown Hill | $799 |
/
/
Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 25% higher than in Arlington Heights
$1,209
Allisonville rent is 27% lower than Indianapolis average
Average Rent
$1,209
$969
Arlington Heights rent is 42% lower than Indianapolis average
Average Rent
$969
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.