Indianapolis, IN Rental Market Trends
What is the average rent in Indianapolis?
The average rent for an apartment in Indianapolis is $1,193. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Indianapolis, IN
Last updated November 2023
| Average Rent | Average Apartment Size |
|---|---|
| $1,193 | 876 sq. ft. |
What is the average apartment size in Indianapolis?
The average size for a Indianapolis, IN apartment is 876 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Indianapolis, IN apartment rent ranges
Indianapolis, IN Occupied Housing Units
160,661 or 45% of the households in Indianapolis, IN are renter-occupied while 195,696 or 55% are owner-occupied.
Indianapolis, IN rent trends
Average Rent in Indianapolis, IN By Neighborhood
| City | Average Rent |
|---|---|
| North Meridian | $1,762 |
| Wholesale District | $1,756 |
| Chatham Arch and Mass Avenue | $1,573 |
| North Harrison Park | $1,481 |
| The Old Northside | $1,357 |
| Keystone at The Crossing | $1,342 |
| Holy Cross | $1,325 |
| Meridian - Highland | $1,325 |
| Riverside | $1,325 |
| Addison Meadows | $1,310 |
| Sunnyview | $1,310 |
| Allisonville | $1,310 |
| Broad Ripple | $1,309 |
| Fall Creek Manor | $1,309 |
| Forest Hills | $1,309 |
| Glendale | $1,309 |
| Sunset Cove | $1,299 |
| Bayberry Village | $1,281 |
| Bluff View Meadows | $1,281 |
| Huddleston Estates | $1,281 |
| Hudson Bay | $1,281 |
| Sunshine Gardens | $1,281 |
| Central Nora | $1,267 |
| Castleton | $1,257 |
| Lake Maxinhall Estates | $1,250 |
| I65 - South Emerson | $1,245 |
| Sycamore Run | $1,245 |
| Fall Creek Highlands | $1,244 |
| Glenroy Village | $1,240 |
| South Village | $1,193 |
| Ameriplex | $1,191 |
| Drexel Gardens | $1,191 |
| Sterling Heights | $1,191 |
| Windham Lake | $1,172 |
| North Willow | $1,169 |
| Mars Hill | $1,166 |
| Crooked Creek | $1,163 |
| Adler Grove | $1,155 |
| Willow Lakes | $1,155 |
| Chapel Hill | $1,154 |
| The Islands | $1,154 |
| Eagle Cove | $1,142 |
| Gateway West | $1,142 |
| Guion Lakes | $1,142 |
| Lafayette Square | $1,142 |
| Oakforge Woods | $1,142 |
| The Highlands | $1,142 |
| Wedgewood | $1,142 |
| College Park | $1,133 |
| Crooked Creek Heights | $1,133 |
| Crooked Creek Villages | $1,133 |
| New Augusta Woods | $1,133 |
| Park 100 | $1,133 |
| Parc Estates | $1,105 |
| Carson Heights | $1,103 |
| Perry Manor | $1,103 |
| Bellaire | $1,083 |
| Fairgrounds | $1,083 |
| Hill Valley Estates | $1,078 |
| North Perry | $1,078 |
| Southcreek | $1,078 |
| Speedway Woods | $1,078 |
| Easton | $1,072 |
| Hathaway Homes | $1,072 |
| Park Valley Estates | $1,072 |
| Parkwood Terrace | $1,072 |
| Sheffield Woods | $1,072 |
| Woodsong | $1,072 |
| Eagledale | $1,070 |
| Bechtold | $1,054 |
| Devington | $1,054 |
| Fall Creek Heights | $1,054 |
| Franklin Heights | $1,054 |
| Briarstone Villas | $1,035 |
| Carson Square | $1,035 |
| Grandview Acres | $1,035 |
| West Edgewood | $1,035 |
| Meadows - Fall Creek | $1,021 |
| Glicks East 38th St | $1,005 |
| Watson's | $1,005 |
| Trinity Manor | $1,004 |
| Arlington Woods | $994 |
| Irvington | $964 |
| Oaklandon | $962 |
| Wynfield | $962 |
| Traditions | $940 |
| Bullman Home Place | $902 |
| Englewood | $799 |
| State Square | $799 |
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What are the most affordable neighborhoods in Indianapolis?
The most affordable neighborhoods in Indianapolis are Englewood, where the average rent goes for $799/month, State Square, where renters pay $799/mo on average, and Bullman Home Place, where the average rent goes for $902/mo. If you’re looking for other great deals, check out the listings from Traditions ($940), Oaklandon ($962), and Wynfield ($962), where the asking prices are below the average Indianapolis rent of $1,193/mo.
What are the most expensive neighborhoods in Indianapolis?
The most expensive neighborhoods in Indianapolis are Chatham Arch and Mass Avenue ($1,573), Wholesale District ($1,756) and North Meridian ($1,762).
What are the most popular neighborhoods in Indianapolis?
The most popular neighborhood in Indianapolis is North Meridian, where there are 3 listings with an average rent of $1,762. Next up is Ameriplex, where apartments go for $1,191/month, followed by Broad Ripple with $1,309 If you’re looking to rent in Indianapolis’s most popular neighborhoods, make sure to also check out Forest Hills, where renters pay $1,309 on average, and Guion Lakes, where the average monthly rent is $1,142.
Indianapolis | Rent Comparison by Neighborhood
Rent in Addison Meadows is 13% higher than in Adler Grove
$1,310
Addison Meadows rent is 10% higher than Indianapolis average
Average Rent
$1,310
$1,155
Adler Grove rent is 3% lower than Indianapolis average
Average Rent
$1,155
How Indianapolis Compares to Other Cities
| State | Average Rent |
|---|---|
| Indianapolis | $1,193 |
| Fort Wayne | $1,106 |
| Gary | $904 |
| New Albany | $1,051 |
| South Bend | $1,227 |
| West Lafayette | $1,665 |
| Jeffersonville | $1,141 |
| Rochester | $730 |
| Crown Point | $1,358 |
| Greenfield | $1,199 |
| Lafayette | $1,018 |
| Noblesville | $1,455 |
| Zionsville | $1,613 |
What is the average price for a storage unit in Indianapolis?
The average rent for a non-climate-controlled 10'x10' storage unit in Indianapolis is $95.41. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Indianapolis
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Tiara
3215 N Alton Ave, Indianapolis, IN 46222| 1 BED | N/A |
| 2 BEDS | N/A |
| 3+ BEDS | $10,000 |
RentCafeAPIv2 Property Epsilon
456 N Meridian St, Indianapolis, IN 46204| 1 BED | N/A |
| 2 BEDS | $1,759+ |
| 3 BEDS | $1,810+ |
Suites On The Park
8198 Main St, Indianapolis, IN 81198| 3 BEDS | $2,000 |
7451 Tempelhof Drive
7451 Tempelhof Drive, Indianapolis, IN 46241| 2 BEDS | $1,000 |