Indianapolis, IN Rental Market Trends
Last updated: May 07, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Indianapolis is $1,266, a 1.42% increase compared to the previous year, when the average rent was $1,249.
Studio Apartments at $997 offer the most budget-friendly option with 464 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 700 square feet for $1,137, balancing privacy and affordability.
Two-beedroom units at $1,335 offer 987 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,288 sq ft) for $1,573, suitable for larger households.
Average rent in Indianapolis, IN
Last updated: May 07, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,266 | 880 sq. ft. |
| Studio | $997 | 464 sq. ft. |
| 1 Bed | $1,137 | 700 sq. ft. |
| 2 Beds | $1,335 | 987 sq. ft. |
| 3 Beds | $1,573 | 1,288 sq. ft. |
Indianapolis, IN rent trends
What's the typical rent budget in Indianapolis, IN?
The largest share of rentals in Indianapolis, IN (62%) 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 Indianapolis, IN?
160,653 or 45% of the households in Indianapolis, IN are renter-occupied while 199,012 or 55% are owner-occupied.
Most affordable neighborhoods in Indianapolis?
Crown Hill $792/month
University Heights $905/month
Glicks East 38th St $943/month
All of these neighborhoods fall below the city wide average of $1,266/month.Most expensive neighborhoods in Indianapolis?
Clermont Lakes $1,637/month
Sycamore Run $1,677/month
North Meridian $1,873/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 | $1,873 |
| Sycamore Run | $1,677 |
| Clermont Lakes | $1,637 |
| Wholesale District | $1,634 |
| Chatham Arch and Mass Avenue | $1,624 |
| Fountain Square | $1,621 |
| Meridian - Kessler | $1,602 |
| Herron - Morton Place | $1,592 |
| The Canal and White River State Park | $1,581 |
| Fletcher Place | $1,581 |
| St. Joseph | $1,549 |
| North Harrison Park | $1,478 |
| Reagan Park | $1,470 |
| Broad Ripple | $1,459 |
| Keystone at The Crossing | $1,459 |
| College Park | $1,448 |
| Mapleton - Fall Creek | $1,414 |
| Fairgrounds | $1,394 |
| Bayswater - Eagles Watch | $1,388 |
| Chapel Hill | $1,383 |
| Southern Springs | $1,374 |
| Valley Mills | $1,348 |
| Castleton | $1,346 |
| Delaware Trails | $1,340 |
| Summerfield Place | $1,329 |
| North Willow | $1,326 |
| The Park at Buffalo Creek | $1,320 |
| Sherman Commons | $1,317 |
| Crooked Creek Heights | $1,298 |
| Briarstone Villas | $1,291 |
| Castle Ridge | $1,282 |
| Shadow Wood South | $1,273 |
| Parkwood Terrace | $1,264 |
| Marian - Cold Springs | $1,256 |
| Willow Lakes | $1,230 |
| Lake Maxinhall Estates | $1,218 |
| Ivy Hills | $1,212 |
| Allisonville | $1,210 |
| Tempo North | $1,201 |
| East Avalon Hills | $1,192 |
| Liberty Creek | $1,189 |
| Speedway Woods | $1,187 |
| Wedgewood | $1,184 |
| Central Nora | $1,183 |
| Eagle Cove | $1,176 |
| Westchester Estates | $1,175 |
| The Highlands | $1,172 |
| Mars Hill | $1,161 |
| Sheffield Woods | $1,160 |
| I65 - South Emerson | $1,157 |
| Mount Auburn | $1,145 |
| Winchester Village | $1,140 |
| The Islands | $1,133 |
| Park Valley Estates | $1,121 |
| Eagledale | $1,093 |
| Crooked Creek | $1,092 |
| Arlington Woods | $1,091 |
| Eastbrooke Meadows | $1,086 |
| North Perry | $1,083 |
| Devington | $1,079 |
| New Augusta Woods | $1,076 |
| Deer Creek | $1,067 |
| West Edgewood | $1,060 |
| Watson's | $1,054 |
| The Old Northside | $1,050 |
| Parc Estates | $1,032 |
| Irvington | $1,016 |
| Otterbein | $1,006 |
| Arlington Heights | $970 |
| Meadows - Fall Creek | $962 |
| Carson Heights | $955 |
| Glicks East 38th St | $943 |
| University Heights | $905 |
| Crown Hill | $792 |
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Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 25% higher than in Arlington Heights
$1,210
Allisonville rent is 4% lower than Indianapolis average
Average Rent
$1,210
$970
Arlington Heights rent is 23% lower than Indianapolis average
Average Rent
$970
How Indianapolis Compares to Other Cities
| City | Average Rent |
|---|---|
| Indianapolis | $1,266 |
| Bloomington | $1,703 |
| Evansville | $1,044 |
| New Albany | $1,125 |
| Fort Wayne | $1,169 |
| South Bend | $1,406 |
| Lafayette | $1,169 |
| Hammond | $1,297 |
| Jeffersonville | $1,248 |
| Fishers | $1,658 |
| Noblesville | $1,581 |
| Greenwood | $1,373 |
| Carmel | $1,679 |
| Lawrence, IN | $1,199 |
| Franklin, IN | $1,452 |
| Plainfield, IN | $1,561 |
| Whitestown, IN | $1,694 |
| Brownsburg, IN | $1,636 |
| Westfield, IN | $1,669 |
| Greenfield, IN | $1,346 |
| Avon, IN | $1,565 |
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 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.