Average Rent in Indianapolis, IN

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Current Versus Historical Indianapolis, IN Rents

Indianapolis rentals average $725 for a studio rental to $1,063 for a 4-bedroom rental. The median price of all currently available listings is $1,195, or roughly $17 per square feet.

For the apartment units and housing in August 2026, median rents have fallen substantially over the last year. Studio rentals prices have decreased by $24 (-3.19%) year-over-year from $757 to $733. 1-bedroom rentals prices have decreased by $932 (-52.29%) year-over-year from $1,782 to $850. 2-bedroom rentals prices have decreased by $961 (-40.28%) year-over-year from $2,386 to $1,425. 3-bedroom rentals prices have decreased by $1,543 (-52.44%) year-over-year from $2,942 to $1,399. 4-bedroom rentals prices have increased by $66 (6.61%) year-over-year from $997 to $1,063. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 13.83% this month. 1-bedroom rents have gone up by 3.20% this month. 2-bedroom rents have gone up by 3.66% this month. 3-bedroom rents have gone up by 8.76% this month. 4-bedroom rents have gone down by 7.41% this month.

Beds	Price / Sqft	Aug 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$23.28	$733	$757 (-3.19%)	$1,339 (-45.27%)
1 BR	$18.80	$850	$1,782 (-52.29%)	$1,320 (-35.61%)
2 BR	$14.09	$1,425	$2,386 (-40.28%)	$2,252 (-36.73%)
3 BR	$16.27	$1,399	$2,942 (-52.44%)	$1,548 (-9.64%)
4+ BR	N/A	$1,063	$997 (6.61%)	$1,655 (-35.80%)

Historical Rents in Indianapolis, IN

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Indianapolis

City	Studio	1 Bed	2 Bed	All

Top Neighborhoods Near Indianapolis

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Indianapolis

There are a total of 1 counties located by Indianapolis, IN. One county in the area is Center, Indianapolis, IN. The average rent for rentals in these counties is $1,325. That's roughly around $16 per sqft. The county that is the most affordable is Center, Indianapolis, IN. Its average rent per month is $1,325. Vice versa, with an average rent of $1,325, Center, Indianapolis, IN is the most expensive county by Indianapolis, IN.

Typically, rent for studios in Indianapolis, IN is 3.45% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Indianapolis, IN is 1.46% more affordable than other counties nearby. Finally, rent for two bedrooms in Indianapolis, IN is on par with the other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Center, Indianapolis, IN	$750	$870	$1,500	$1,325

Top Zipcodes Near Indianapolis

There are a total of 2 zipcodes in or near Indianapolis, IN. The average rent for all of these zipcodes is $2,026.

Studios in these zipcodes have an average rent of $1,285. That's at least $23 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Indianapolis, IN is $1,461 per month. Or in other words, $21 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,323 per month. Which comes out to $14 per sqft. The following table includes the top 2 zipcodes in Indianapolis, IN. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
46204, Indianapolis, IN	$1,797	$2,057	$3,121	$2,551
46202, Indianapolis, IN	$773	$865	$1,525	$1,500

Frequently Asked Questions - Indianapolis Average Rents

What is the average rent price in Indianapolis, IN?

The average monthly rental price for Indianapolis, IN apartments for rent is approximately $1,195. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Indianapolis, IN rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Indianapolis, IN.

How much is a studio apartment in Indianapolis, IN?

The average monthly rental price for studio apartments is $725 and an average price per square feet of $23.28. There are a total of 17 studio apartment listings currently available for rent in Indianapolis.

How much is a one bedroom apartment in Indianapolis, IN?

The average monthly rental price for one bedroom apartments is $858 and an average price per square feet of $18.80. There are a total of 44 one bedroom apartment listings currently available for rent in Indianapolis.

How much is a two bedroom apartment in Indianapolis, IN?

The average monthly rental price for two bedroom apartments is $1,500 and an average price per square feet of $14.09. There are a total of 66 two bedroom apartment listings currently available for rent in Indianapolis.

How have rent prices in Indianapolis, IN changed this year?

Rent prices for rentals in Indianapolis, IN can fluctuate yearly. Specifically, studio rental prices have changed by -0.03%, one bedroom rental prices have changed by -0.52%, two bedroom rental prices have changed by -0.40%, three bedroom rental prices have changed by -0.52% year-over-year.

What is a reasonable rent price in Indianapolis, IN?

A reasonable rent price in Indianapolis, IN is around $956/month. You can search for these reasonably priced rental listings on RentHop.