South Indianapolis, Indianapolis, IN Rental Market Trends
Last updated: October 02, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in South Indianapolis is $1,195, a 1.55% decrease compared to the previous year, when the average rent was $1,214.
Studio Apartments at $784 offer the most budget-friendly option with 347 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 700 square feet for $1,050, balancing privacy and affordability.
Two-bedroom units at $1,260 offer 965 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,248 sq ft) for $1,447, suitable for larger households.
Average rent in South Indianapolis, Indianapolis, IN
Last updated: October 02, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,195 | 887 sq. ft. |
| Studio | $784 | 347 sq. ft. |
| 1 Bed | $1,050 | 700 sq. ft. |
| 2 Beds | $1,260 | 965 sq. ft. |
| 3 Beds | $1,447 | 1,248 sq. ft. |
South Indianapolis, Indianapolis, IN rent trends
Rental prices in South Indianapolis, Indianapolis, IN have decreased by 1.55% over the past year. The average rent moved from $1,214 to $1,195.
What's the typical rent budget in South Indianapolis, Indianapolis, IN?
The largest share of rentals in South Indianapolis, Indianapolis, IN (68%) 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 South Indianapolis, Indianapolis, IN?
22,579 or 39% of the households in South Indianapolis, Indianapolis, IN are renter-occupied while 35,393 or 61% are owner-occupied.
Most affordable neighborhoods in South Indianapolis?
Crown Hill $812/month
University Heights $873/month
Carson Heights $943/month
All of these neighborhoods fall below the city wide average of $1,262/month.Most expensive neighborhoods in South Indianapolis?
Wholesale District $1,641/month
Cole Noble $1,718/month
North Meridian $1,862/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 | $1,862 |
| Cole Noble | $1,718 |
| Wholesale District | $1,641 |
| Sycamore Run | $1,624 |
| Meridian - Kessler | $1,606 |
| Chatham Arch and Mass Avenue | $1,598 |
| Clermont Lakes | $1,595 |
| The Canal and White River State Park | $1,583 |
| Riverside | $1,580 |
| Fletcher Place | $1,568 |
| St. Joseph | $1,568 |
| Herron - Morton Place | $1,567 |
| Reagan Park | $1,563 |
| Fountain Square | $1,530 |
| North Harrison Park | $1,488 |
| Mapleton - Fall Creek | $1,472 |
| College Park | $1,428 |
| Broad Ripple | $1,421 |
| Keystone at The Crossing | $1,415 |
| Delaware Trails | $1,364 |
| Castleton | $1,334 |
| Willow Lakes | $1,321 |
| Old Southside | $1,314 |
| Summerfield Place | $1,310 |
| Valley Mills | $1,306 |
| Bayswater - Eagles Watch | $1,305 |
| Crooked Creek Heights | $1,303 |
| The Park at Buffalo Creek | $1,286 |
| Ivy Hills | $1,283 |
| Parkwood Terrace | $1,278 |
| Shadow Wood South | $1,277 |
| North Willow | $1,275 |
| Allisonville | $1,266 |
| Marian - Cold Springs | $1,256 |
| Briarstone Villas | $1,252 |
| East Avalon Hills | $1,227 |
| Sherman Commons | $1,226 |
| The Islands | $1,217 |
| Lake Maxinhall Estates | $1,201 |
| The Highlands | $1,196 |
| Central Nora | $1,191 |
| Speedway Woods | $1,181 |
| Wedgewood | $1,180 |
| Liberty Creek | $1,179 |
| Eagle Cove | $1,176 |
| Christian Park | $1,176 |
| Westchester Estates | $1,160 |
| Mars Hill | $1,148 |
| Sheffield Woods | $1,132 |
| Winchester Village | $1,129 |
| Tempo North | $1,122 |
| Crooked Creek | $1,118 |
| Mount Auburn | $1,114 |
| Park Valley Estates | $1,087 |
| Eagledale | $1,076 |
| New Augusta Woods | $1,072 |
| North Perry | $1,053 |
| Parc Estates | $1,047 |
| Devington | $1,046 |
| Eastbrooke Meadows | $1,043 |
| Deer Creek | $1,042 |
| The Old Northside | $1,036 |
| Arlington Woods | $1,034 |
| West Edgewood | $1,032 |
| Arlington Heights | $990 |
| Meadows - Fall Creek | $975 |
| Irvington | $967 |
| Otterbein | $948 |
| Carson Heights | $943 |
| University Heights | $873 |
| Crown Hill | $812 |
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Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 28% higher than in Arlington Heights
$1,266
Allisonville rent is 6% higher than Indianapolis average
Average Rent
$1,266
$990
Arlington Heights rent is 17% lower than Indianapolis average
Average Rent
$990
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 South 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.