Average Rent in Indianapolis, IN
Indianapolis offers some of the lowest rents among major US cities. A growing tech sector, affordable cost of living, and revitalized downtown make it attractive for renters on a budget.
+2.8%YoY
Studio
$850
1-Bedroom
$1,050
2-Bedroom
$1,250
3-Bedroom
$1,550
Market Overview
Year-over-Year Change+2.8%
Vacancy Rate6.8%
Renter Population42%
Median Income$47,873/yr
Rent-to-Income Ratio26.3%
Cost of Living Index84 (US avg: 100)
Market Condition
Balanced Market
Market is relatively balanced between landlords and tenants.
Tenant Protections
- Security deposit return within 45 days
- No rent control statewide
- Landlord must maintain habitable conditions
- Written notice required for entry
Rent by Neighborhood in Indianapolis
Mass Ave
Arts and cultural district with theaters, restaurants, and galleries.
Walk Score: 80Safety: 7/10
1-Bed
$1,300
2-Bed
$1,600
3-Bed
$1,950
Broad Ripple
Village atmosphere with canal trail, bars, and local shops.
Walk Score: 65Safety: 6/10
1-Bed
$1,100
2-Bed
$1,350
3-Bed
$1,700
Fountain Square
Artsy neighborhood with vintage stores, music venues, and duckpin bowling.
Walk Score: 60Safety: 5/10
1-Bed
$1,000
2-Bed
$1,200
3-Bed
$1,500
Irvington
Historic district with community events and affordable housing.
Walk Score: 45Safety: 6/10
1-Bed
$900
2-Bed
$1,100
3-Bed
$1,400
Buildings in Indianapolis
View AllTips for Renting in Indianapolis
- 1Indiana has a flat 3.05% state income tax - relatively low
- 2IndyGo Red Line bus rapid transit is expanding - check routes
- 3Winter heating costs can be high - ask about utility averages
- 4Many landlords offer first month free during slower winter months
Check Your Rent in Indianapolis
Enter your current rent to see if you are getting a fair deal.
Use Rent Checker