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Rental market trends in Indianapolis, IN

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Average Rent in Indianapolis, IN

Average Rent in Indianapolis, IN

Avg. RentAnnual Change
Studio - $1,169-2%
1 Bed - $1,221+4%
2 Beds - $1,409+5%
Last updated 6/22/2024

Average Apartment Cost in Indianapolis, IN

The average rent for apartments in Indianapolis, IN, is between $1,169 and $1,409 in 2024. For a studio apartment in Indianapolis, IN, the average rent is $1,169. When it comes to 1-bedroom apartments, the average rent in Indianapolis, IN, is $1,221. For a 2-bedroom apartment, the average rent is $1,409.

Apartment Rent Ranges in Indianapolis, IN

Apartment PricesProportion
3%
13%
24%
43%
18%

Neighborhood Apartment Rent Trends in Indianapolis, IN

NeighborhoodStudio Avg RentAnnual Change
Mass Ave$1,651+36%
North Meridian$1,450-3%
Meridian Kessler$1,444--
Fletcher Place$1,440+7%
Broad Ripple Village$1,399-10%
Downtown Indianapolis$1,365+10%
Fountain Square$1,306+26%
I65-South Emerson$1,300--
South Franklin$1,300--
Garden City$1,287-2%
West Side$1,264+10%
Chapel Hill - Ben Davis$1,259-13%
Fall Creek Place$1,250--
Near Northside$1,229+70%
Mass Avenue$1,200-1%
North Side$1,149+3%
Mapleton - Fall Creek$1,095-8%
College Park$1,095-35%
South Perry$967+5%
South Side$935-17%
Valley Mills$927--
North High School$900--
St. Vincent - Greenbriar$878+19%
Eagledale$853+119%
Near Eastside$838--
East Side$825+10%
Far East Side$825+16%
Crooked Creek$816-6%
South Broad Ripple$799-6%
Chatham Arch$7650%
Old Northside$699-27%
Irvington$675--
Near Westside$650+31%
Crown Hill$550-8%
Neighborhood1 Bed Avg RentAnnual Change
Broad Ripple Village$1,749-5%
Fountain Square$1,633+8%
Fletcher Place$1,565-5%
I65-South Emerson$1,500+63%
Downtown Indianapolis$1,462-7%
Near Northside$1,407+52%
North Side$1,404+2%
North Meridian$1,350+3%
Fall Creek Place$1,350--
South Franklin$1,340+13%
Mass Ave$1,330-7%
Indiana Avenue$1,300-19%
Southern Dunes$1,290--
Mapleton - Fall Creek$1,282-2%
College Park$1,275+69%
South Perry$1,253+30%
Mass Avenue$1,225-21%
St. Vincent - Greenbriar$1,190+9%
Chatham Arch$1,1750%
Valley Mills$1,146--
South Side$1,112+6%
Meadows$1,083--
Five Points$1,051+13%
Nora$1,041+6%
Crooked Creek$1,029+20%
Eagledale$1,009+14%
West Side$1,008+5%
Garden City$1,001+3%
Near Eastside$997--
Near Westside$979+98%
Devington$975+12%
Mars Hill$949+19%
Far East Side$945+10%
North High School$931-29%
East Warren$925+6%
East Side$908+4%
South Broad Ripple$894-11%
Christian Park$804--
Old Northside$764-35%
Irvington$729+8%
Near Southeast$729--
Crown Hill$715+2%
Martindale - Brightwood$675-54%
Chapel Hill - Ben Davis$574-22%
Neighborhood2 Beds Avg RentAnnual Change
Fletcher Place$2,190--
Fountain Square$2,135+12%
Downtown Indianapolis$1,867+1%
Near Northside$1,850+80%
Fall Creek Place$1,850--
North Meridian$1,715+7%
South Franklin$1,707+19%
North Side$1,588-4%
College Park$1,550-2%
Mapleton - Fall Creek$1,532-7%
St. Vincent - Greenbriar$1,458+11%
Southern Dunes$1,457--
Mass Ave$1,430-23%
Broad Ripple Village$1,361-1%
Indiana Avenue$1,350+6%
Garden City$1,335+7%
South Side$1,300+5%
Meadows$1,296--
North High School$1,285-25%
West Side$1,284+7%
Five Points$1,258+14%
Nora$1,246+9%
Valley Mills$1,244--
South Perry$1,209+7%
Mass Avenue$1,208-43%
East Warren$1,202+9%
Chatham Arch$1,1400%
East Side$1,132+7%
Near Westside$1,112--
Eagledale$1,099+11%
Far East Side$1,096+10%
Crooked Creek$1,093+17%
Mars Hill$1,086+19%
South Broad Ripple$1,049-9%
I65-South Emerson$999-15%
Old Northside$929-42%
Near Eastside$899+20%
Near Southeast$879+26%
Irvington$849+8%
Crown Hill$849+2%
Bosart Brown$750--
Devington$700-27%
Chapel Hill - Ben Davis$627-26%

How Other Cities Compare to Indianapolis, IN

CityStudio Avg RentAnnual Change
Fishers$1,305+8%
Carmel$1,235+12%
Bloomington$1,229+6%
Whitestown$1,163--
Brownsburg$1,160-6%
Noblesville$1,097-1%
Crawfordsville$1,095+39%
Westfield$1,085-1%
Greenwood$926-19%
Lebanon$850--
Columbus$730+5%
Kokomo$715+8%
City1 Bed Avg RentAnnual Change
Whitestown$1,730-4%
Carmel$1,615+4%
Westfield$1,506+6%
Zionsville$1,462-3%
Noblesville$1,349+2%
Avon$1,280-2%
Bloomington$1,252+6%
Brownsburg$1,235-18%
Columbus$1,201+1%
Fishers$1,180-25%
Greenwood$1,132-9%
Camby$1,125+91%
Greenfield$1,059-6%
Beech Grove$1,052+5%
Lebanon$975+17%
Franklin$960+19%
Kokomo$890+11%
Plainfield$870+4%
Anderson$779+5%
Crawfordsville$600-20%
City2 Beds Avg RentAnnual Change
Carmel$2,034+6%
Whitestown$1,830-1%
Westfield$1,794+6%
Zionsville$1,735-7%
Camby$1,625+132%
Avon$1,566-2%
Bloomington$1,500+12%
Brownsburg$1,434-20%
Fishers$1,427-31%
Noblesville$1,381-3%
Columbus$1,375+6%
Greenwood$1,357-13%
Greenfield$1,215-6%
Plainfield$1,210+5%
Franklin$1,160+23%
Beech Grove$1,159+3%
Crawfordsville$1,095+10%
Lebanon$1,089+10%
Kokomo$1,022+11%
Anderson$962+12%

Indianapolis, IN Rent Trends

Studio1 Bed2 Beds
Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Apr 2024May 2024Jun 2024
$1184$1150$1180$1187$1180$1156$1159$1148$1129$1163$1163$1224$1224
$1162$1184$1210$1218$1211$1204$1192$1187$1194$1226$1237$1215$1205
$1352$1352$1357$1376$1409$1414$1371$1374$1373$1415$1442$1405$1398
$1624$1624$1656$1672$1682$1686$1660$1662$1623$1647$1648$1647$1671

Neighborhood Information for Indianapolis, IN

What are the most affordable neighborhoods in Indianapolis, IN?

The most affordable neighborhoods in Indianapolis are Chapel Hill - Ben Davis, where the average 1-bedroom apartment rent goes for $574, Martindale - Brightwood, where renters pay $675 on average for a 1-bedroom apartment, and Crown Hill, where the average 1-bedroom apartment rent goes for $715. If you're looking for other great deals, check out the listings in Irvington ($729 for a 1-bedroom apartment) or Near Southeast ($729 for a 1-bedroom apartment), compared to the $1,221 average for an Indianapolis 1-bedroom apartment.

What are the most expensive neighborhoods in Indianapolis, IN?

The most affordable neighborhoods in Indianapolis are Meridian Kessler, where the average 1-bedroom apartment rent goes for $2,020, Broad Ripple Village, where renters pay $1,749 on average for a 1-bedroom apartment, and Fountain Square, where the average 1-bedroom apartment rent goes for $1,633. If you're looking for other great deals, check out the listings in Fletcher Place ($1,565 for a 1-bedroom apartment) or I65-South Emerson ($1,500 for a 1-bedroom apartment), compared to the $1,221 average for an Indianapolis 1-bedroom apartment.

What are the most popular neighborhoods in Indianapolis, IN?

The most popular neighborhoods in Indianapolis are Martindale - Brightwood, where the average 1-bedroom apartment rent goes for $675, Fall Creek Place, where renters pay $1,350 on average for a 1-bedroom apartment, and Near Eastside, where the average 1-bedroom apartment rent goes for $997. If you're looking for other popular neighborhoods, check out the listings in Near Northside ($1,407 for a 1-bedroom apartment) or Mass Ave ($1,330 for a 1-bedroom apartment), compared to the $1,221 average for an Indianapolis 1-bedroom apartment.

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