Average Rent in Indianapolis, IN
7 apartment buildings, 61 units. Real asking prices, refreshed daily.
Avg Rent
$2,029/mo
Cheapest
$684/mo
Properties
7
Units
61
Analysis
Rent Price Breakdown
Compare pricing across all 7 properties in Indianapolis, IN.
Average Rent by Property
Starting Price vs Average
Rent by Bedroom Count
Price per Square Foot
Indianapolis, IN Rent Prices
All 7 properties ranked by lowest available rent.
Union at 16th
2152 Emrich Ln, Indianapolis, IN 46222, USA
Core Redevelopment
549 N Senate Ave, Indianapolis, IN 46204, USA
Intrigue Real Estate & Property Management
350 Massachusetts Ave # 300, Indianapolis, IN 46204, USA
The Residences at CityWay
229 S Delaware St, Indianapolis, IN 46204, USA
Gathyr
1117 E Market St, Indianapolis, IN 46202, USA
The Plaza at Library Square
902 N Pennsylvania St, Indianapolis, IN 46204, USA
360 Market Square
360 E Market St, Indianapolis, IN 46204, USA
| # | Property | From | Avg | $/sqft | Rating | Units |
|---|---|---|---|---|---|---|
| 1 | Union at 16th 2152 Emrich Ln, Indianapolis, IN 46222, USA | $684 | $842 | $1.08 | 3.3 (40) | 2 |
| 2 | Core Redevelopment 549 N Senate Ave, Indianapolis, IN 46204, USA | $921 | $921 | $1.81 | 3 (47) | 1 |
| 3 | Intrigue Real Estate & Property Management 350 Massachusetts Ave # 300, Indianapolis, IN 46204, USA | $1,195 | $1,195 | $0.91 | 4.6 (266) | 1 |
| 4 | The Residences at CityWay 229 S Delaware St, Indianapolis, IN 46204, USA | $1,285 | $1,961 | $2.16 | 4.3 (372) | 24 |
| 5 | Gathyr 1117 E Market St, Indianapolis, IN 46202, USA | $1,299 | $1,626 | $1.97 | 4.8 (47) | 8 |
| 6 | The Plaza at Library Square 902 N Pennsylvania St, Indianapolis, IN 46204, USA | $1,388 | $1,388 | $1.34 | 3.8 (11) | 1 |
| 7 | 360 Market Square 360 E Market St, Indianapolis, IN 46204, USA | $1,660 | $2,438 | $2.61 | 4.4 (200) | 24 |
Explore Each Property
Union at 16th
3.3 (40)2152 Emrich Ln, Indianapolis, IN 46222, USA
Core Redevelopment
3 (47)549 N Senate Ave, Indianapolis, IN 46204, USA
Intrigue Real Estate & Property Management
4.6 (266)350 Massachusetts Ave # 300, Indianapolis, IN 46204, USA
The Residences at CityWay
4.3 (372)229 S Delaware St, Indianapolis, IN 46204, USA
Gathyr
4.8 (47)1117 E Market St, Indianapolis, IN 46202, USA
The Plaza at Library Square
3.8 (11)902 N Pennsylvania St, Indianapolis, IN 46204, USA
Indianapolis, IN Average Rent Prices 2026
The average rent in Indianapolis, IN is $2,029 per month, based on 61 units across 7 apartment communities. Prices range from $684 at Union at 16th to $1,660 at 360 Market Square.
Average Rent by Bedroom Type
| Type | Avg Rent | Starting From | Units |
|---|---|---|---|
| Studio | $1,383/mo | $1,195/mo | 4 |
| 1 Bed | $1,748/mo | $684/mo | 35 |
| 2 Bed | $2,468/mo | $1,388/mo | 19 |
| 3 Bed | $2,985/mo | $2,985/mo | 1 |
| 4 Bed | $3,590/mo | $3,590/mo | 2 |
Every price comes directly from each property's leasing system, updated that morning. Request a neighborhood we don't cover and we add it within 24 hours.
Market Context
Who rents in Indianapolis, IN, and what they pay
Tracked one-bedroom rent in Indianapolis, IN averages $1,748/mo, with two-bedroom units averaging $2,468/mo. At the local median household income of $62,995, that works out to 39% of gross income, above the 30 percent affordability ceiling, a stretched-budget market.
The U.S. Census Bureau's American Community Survey 2023 release pegged median gross rent in Indianapolis, IN at $1,112/mo. The current tracked market average runs 82% higher than that benchmark, reflecting both two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Indianapolis, IN while the tracked market average covers units currently listed in larger apartment communities.
Who employs renters in Indianapolis
Demand in the Indianapolis rental market is shaped by the metro's largest private and public employers. The following organizations anchor local hiring and influence what renters can pay:
- Eli Lilly
- IU Health
- Salesforce
- Rolls-Royce North America
- Cummins
Mean one-way commute in Indianapolis, IN is 24 minutes, per the Census ACS, useful context when weighing which properties sit inside reasonable reach of these employers.
What salary do I need to live comfortably in Indianapolis, IN?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$81,000/year
30 percent rule -- using our average rent of $2,029/mo.
Comfortable income
$97,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($684/mo), you need to earn at least $27,000/year.
Median household income in Indianapolis, IN is $62,995 , about 35% below the comfortable-living threshold.
Cost of living in Indianapolis, IN
Overall prices in Indianapolis, IN runs below the national average by about 5% (BEA Regional Price Parity index 94.7, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Indianapolis, IN's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,029 |
| Utilities | $374 |
| Groceries | $512 |
| Transportation | $892 |
| Healthcare | $435 |
| Other goods and services | $696 |
| Estimated total | $4,938/mo |
Population
882,043
Median household income
$62,995
Census median rent
$1,112/mo
Rent as % of income
30.5%
Median age
34.1
Mean commute
24 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Compare
Nearby cities in Indiana
How Indianapolis, IN rent compares to other markets in the state.
| City | Avg Rent | vs Indianapolis, IN | Properties |
|---|---|---|---|
| Fishers, IN | $1,636 | -19% | 13 |
| South Bend, IN | $1,632 | -20% | 10 |
| Bloomington, IN | $1,830 | -10% | 8 |
| Fort Wayne, IN | $1,105 | -46% | 7 |
| Evansville, IN | $869 | -57% | 5 |
Frequently asked questions
What is the average rent in Indianapolis, IN?
The average rent in Indianapolis, IN is $2,029 per month, based on 61 units across 7 apartment buildings tracked by Average Rent. Prices are updated every morning through our proprietary data sourcing.
What is the cheapest apartment rent in Indianapolis, IN?
The lowest available rent in Indianapolis, IN starts at $684 per month. Availability changes daily as leasing data is refreshed each morning.
How much is a 1-bedroom apartment in Indianapolis, IN?
1-bedroom apartments in Indianapolis, IN average $1,748/mo. The lowest listed 1-bedroom starts at $684/mo across 35 units tracked.
How much is a 2-bedroom apartment in Indianapolis, IN?
2-bedroom apartments in Indianapolis, IN average $2,468/mo. Units start from $1,388/mo across 19 units currently listed.
Rent Trends in Indianapolis, IN
Track how apartment prices are changing over time.
Missing your neighborhood?
Tell us where you're looking. We'll start tracking prices within 24 hours.
Get Started