Average Rent in Indianapolis, IN

Current Versus Historical Indianapolis, IN Rents

Indianapolis rentals average $684 for a studio rental to $1,920 for a 4-bedroom rental. The median price of all currently available listings is $1,325, or roughly $13 per square feet.

For the apartment units and housing in September 2023, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $45,787 (-97.88%) year-over-year from $46,777 to $990. 1-bedroom rentals prices have decreased by $53 (-3.66%) year-over-year from $1,458 to $1,405. 2-bedroom rentals prices have decreased by $57 (-2.60%) year-over-year from $2,195 to $2,138. 3-bedroom rentals prices have increased by $209 (15.09%) year-over-year from $1,386 to $1,595. 4-bedroom rentals prices have increased by $482 (35.76%) year-over-year from $1,348 to $1,830. 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 down by 15.28% this month. 1-bedroom rents have gone up by 6.44% this month. 2-bedroom rents have gone down by 2.00% this month. 3-bedroom rents have gone up by 3.01% this month. 4-bedroom rents have gone up by 5.63% this month.

Beds	Price / Sqft	Sep 2023 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$20	$990	$46,777 (-97.88%)	$1,389 (-28.71%)
1 BR	$15	$1,405	$1,458 (-3.66%)	$937 (49.89%)
2 BR	$14	$2,138	$2,195 (-2.60%)	$1,055 (102.62%)
3 BR	$13	$1,595	$1,386 (15.09%)	$1,191 (33.94%)
4+ BR	$11	$1,830	$1,348 (35.76%)	$1,346 (35.92%)

Historical Rents in Indianapolis, IN

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Indianapolis

There are a total of 1 cities nearby Indianapolis. The average rent in Indianapolis is currently $825 per month. Only one city nearby has an average rent lower than that. Our records show that Anderson, IN, with an average rent of $825, is the most affordable city nearby. In contrast, the most expensive city near Indianapolis, IN is Anderson, IN. Monthly rents here are on average $825 per month.

Let's compare Indianapolis, IN's rent against other top cities nearby by bedroom size. Typically, rent for studios in Indianapolis, IN is 1.61% more expensive than other cities nearby. One bedrooms are about 15.93% more expensive. Two bedrooms in Indianapolis, IN are about 10.53% more expensive. Finally, rent for three bedrooms are about 31.03% more expensive. Want more information? Check out the top 1 cities near Indianapolis, IN in the following chart.

City	Studio	1 Bed	2 Bed	All
Anderson, IN	$673	$663	$850	$825

Top Neighborhoods Near Indianapolis

There are a total of 1 neighborhoods in or near Indianapolis. We've included all of these top 1 neighborhoods in or near Indianapolis, IN in the following chart.

The average rent for these 1 neighborhoods in or near Indianapolis, IN is currently around $973 per month. A total of one neighborhood has a lower average rent. Out of all the neighborhoods in or near Indianapolis, Near Eastside has the most affordable average rent at $973 per month. Whereas, at $973 average rent per month, Near Eastside is the most expensive neighborhood in or near Indianapolis. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Near Eastside, Indianapolis, IN	N/A	$750	$923	$973

Top Counties Near Indianapolis

There are a total of 1 counties located by Indianapolis, IN. Some of these counties include Center, Indianapolis, IN, Warren, Indianapolis, IN, and Lawrence, IN. The average rent for rentals in these counties is $1,045. That's roughly around $14 per sqft. A total of 3 counties have a lower average rent. The county that is the most affordable is Center, Indianapolis, IN. It's average rent per month is $1,025. Vice versa, with an average rent of $1,185, Lawrence, IN is the most expensive county by Indianapolis, IN.

Typically, rent for studios in Indianapolis, IN is 8.56% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Indianapolis, IN is 1.65% more expensive 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 chart below.

County	Studio	1 Bed	2 Bed	All
Center, Indianapolis, IN	N/A	$775	$950	$1,025
Warren, Indianapolis, IN	$625	$763	$875	$1,045
Lawrence, IN	$720	$840	$1,020	$1,185

Top Zipcodes Near Indianapolis

There is one zipcode in or near Indianapolis, IN. The average rent for this zipcode is $925.

The following chart includes the zipcode in or near Indianapolis, IN. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
46201, Indianapolis, IN	N/A	$750	$885	$925

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 $1,325. 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 $684 and an average price per square feet of $20.14. There are a total of 4 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 $788 and an average price per square feet of $14.75. There are a total of 62 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 $950 and an average price per square feet of $13.53. There are a total of 101 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 -0.98%, one bedroom rental prices have changed by -0.04%, two bedroom rental prices have changed by -0.03%, and three bedroom rental prices have changed by 0.15% year-over-year.

What is a reasonable rent price in Indianapolis, IN?

A reasonable rent price in Indianapolis, IN is around $1,060/month. You can search for these reasonably priced rental listings on RentHop.