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Cheap Apartments for Rent in Indianapolis, IN - 700 Rentals available

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Renting a Cheap Apartment in Indianapolis

Indiana’s state capital is a fast-growing city with affordable housing, jobs in manufacturing, services and health care, and love of motor sports. The famous Indy 500 happens here annual at Indianapolis Motor Speedway. This is the largest-single day sports event in the entire world. The Colts, the city’s NFL team, also inspire much local pride. Indianapolis is home to numerous colleges, a revitalized downtown that’s home to businesses, shops and museums, and beautiful rivers and parks. There are six cultural districts of historic merit. Tourists visit for conventions, White River State Park, and the Indianapolis Zoo. Indianapolis will host the 2012 Super Bowl, a major event for the city.

Indianapolis, IN Demographics

  • Total Population853,431
  • Female 411,970
    Male 441,461
  • Median Age34.1

Average Rent in Indianapolis, IN

  • Indianapolis, IN Average Rental Price, December 2019 $888 /mo

Indianapolis, IN Apartment Rent Ranges

  • < $5001%
  • $501-$70025%
  • $701-$1,00051%
  • $1,001-$1,50020%
  • $1,501-$2,0003%
  • > $2,0001%

Indianapolis, IN Rent Trends

Average Rent Nov / 2016 Mar / 2017 Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Dec / 2019
Indianapolis, IN $789 $798 $810 $818 $820 $839 $850 $857 $875 $887 $888
National $1,354 $1,350 $1,382 $1,385 $1,388 $1,423 $1,431 $1,434 $1,469 $1,473 $1,474
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Average rent is projected to grow by 4% in 2019 compared to 2018.

Please note that projected rent growth is calculated at city level.

Check out the average rent prices in Indianapolis by neighborhood.

Indianapolis, IN Households

  • Total Number of Households333,316
  • Family 186,185
    Non-family 147,131
  • Children 97,007
    No Children 236,309
  • Average People Per Household2.51
  • Median Household Income$44,709
  • Median Housing Costs Per Month$879

Indianapolis, IN Education Statistics

  • No High School4%
  • Some High School38%
  • Some College24%
  • Associate Degree6%
  • Bachelor Degree18%
  • Graduate Degree9%

Looking for a cheap apartment for rent in Indianapolis, IN? With RENTCafé, finding an affordable apartment in Indianapolis, IN has never been easier. We feature 622 low-priced rentals directly from property managers, with rents lower than the Indianapolis, IN average. What is a cheap rent in Indianapolis, IN? The average apartment rent in Indianapolis is $888 per month so any rental south of $710 would be considered cheap here. On RENTCafé, Indianapolis, IN rents go as low as $359/mo.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!