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Studio Apartments for Rent in Indianapolis, IN - 56 Rentals available

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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%

Renting a studio apartment in Indianapolis, IN

The bad news is that the hip neighborhoods are typically not the places to look for truly affordable homes for rent, and Indianapolis, IN is no exception. That is unless you are willing to give up the (real or imagined) benefits of multiple rooms and experience the minimalist simplicity of a small apartment located smack dab in the middle of the action. Leaf through 42 listings with a total of 57 units, and you’ll be sure to find at least a couple of cheap studios that will make you wonder whether having one or two extra rooms is really worth the difference in price and commute time. Already a fan of living small? Why don’t you check out our selection of one room apartments—there’s always a better deal out there, you just have to know where to look for it (The Parks at Winding Ridge is the cheapest neighborhood in town—wink wink).

They are called efficiency apartments for a reason

In case you’re still wondering, the time and effort put into finding an efficiency apartment does pay off. Literally, and pretty fast too. The Indianapolis, IN average rent is currently at $846, but a single-bedroom apartment in Indianapolis, IN can be yours for as low as $464 per month. While the cheapest bachelor units normally have a small bath and one bigger, multifunctional space (meaning that the hall and the kitchen in the main room, basically), you don’t need to have that if it’s not your thing. You can find plenty of one-room apartments in Indianapolis, IN with a separate kitchen. These are still well under the price of an apartment with multiple rooms, but slightly more expensive than your average studio, so it’s a good idea to aim for the higher end of the price range. The currently the most expensive studio apartment in Indianapolis, IN costs a monthly $2,229.

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