Downtown Indianapolis, Indianapolis, IN Rental Market Trends
Last updated: February 24, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Indianapolis is $1,603, a 0.11% increase compared to the previous year, when the average rent was $1,601.
Studio Apartments at $1,244 offer the most budget-friendly option with 536 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 742 square feet for $1,468, balancing privacy and affordability.
Two-beedroom units at $1,901 offer 1,114 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,450 sq ft) for $2,885, suitable for larger households.
Average rent in Downtown Indianapolis, Indianapolis, IN
Last updated: February 24, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,603 | 849 sq. ft. |
| Studio | $1,244 | 536 sq. ft. |
| 1 Bed | $1,468 | 742 sq. ft. |
| 2 Beds | $1,901 | 1,114 sq. ft. |
| 3 Beds | $2,885 | 1,450 sq. ft. |
Downtown Indianapolis, Indianapolis, IN rent trends
Rental prices in Downtown Indianapolis, Indianapolis, IN have increased by 0.11% over the past year. The average rent moved from $1,601 to $1,603.
What's the typical rent budget in Downtown Indianapolis, Indianapolis, IN?
The largest share of rentals in Downtown Indianapolis, Indianapolis, IN (48%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Downtown Indianapolis, Indianapolis, IN?
7,222 or 77% of the households in Downtown Indianapolis, Indianapolis, IN are renter-occupied while 2,170 or 23% are owner-occupied.
Most affordable neighborhoods in Downtown Indianapolis?
Crown Hill $788/month
Biltmore Gardens $882/month
University Heights $896/month
All of these neighborhoods fall below the city wide average of $1,252/month.Most expensive neighborhoods in Downtown Indianapolis?
Chatham Arch and Mass Avenue $1,633/month
Sycamore Run $1,670/month
North Meridian $1,832/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Indianapolis, IN By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| North Meridian | $1,832 |
| Sycamore Run | $1,670 |
| Chatham Arch and Mass Avenue | $1,633 |
| Clermont Lakes | $1,633 |
| Oxbow Estates | $1,619 |
| Windcombe | $1,606 |
| Fountain Square | $1,603 |
| Meridian - Kessler | $1,599 |
| Herron - Morton Place | $1,584 |
| Fletcher Place | $1,577 |
| Wholesale District | $1,576 |
| The Canal and White River State Park | $1,541 |
| North Harrison Park | $1,519 |
| Devonshire | $1,504 |
| Cole Noble | $1,483 |
| College Park | $1,471 |
| Reagan Park | $1,458 |
| Greenbrooke | $1,448 |
| St. Joseph | $1,440 |
| Broad Ripple | $1,428 |
| Southern Springs | $1,415 |
| Delaware Trails | $1,398 |
| Valley Mills | $1,394 |
| Keystone at The Crossing | $1,389 |
| Mapleton - Fall Creek | $1,379 |
| Sonesta | $1,377 |
| Bayswater - Eagles Watch | $1,341 |
| Chapel Hill | $1,340 |
| Castleton | $1,338 |
| Summerfield Place | $1,312 |
| East Avalon Hills | $1,309 |
| Crooked Creek Heights | $1,300 |
| Ivy Hills | $1,296 |
| Fairgrounds | $1,291 |
| North Willow | $1,290 |
| Allisonville | $1,276 |
| Shadow Wood South | $1,271 |
| The Park at Buffalo Creek | $1,271 |
| Marian - Cold Springs | $1,269 |
| Castle Ridge | $1,263 |
| Willow Lakes | $1,259 |
| Briarstone Villas | $1,253 |
| Fall Creek Manor | $1,243 |
| Parkwood Terrace | $1,239 |
| Wedgewood | $1,230 |
| Trinity Manor | $1,225 |
| Rosewood | $1,221 |
| Lake Maxinhall Estates | $1,207 |
| Eagle Cove | $1,183 |
| Mount Auburn | $1,182 |
| The Islands | $1,179 |
| Sherman Commons | $1,177 |
| The Highlands | $1,174 |
| Westchester Estates | $1,173 |
| Liberty Creek | $1,171 |
| Mars Hill | $1,150 |
| Tempo North | $1,149 |
| Central Nora | $1,149 |
| Sheffield Woods | $1,136 |
| I65 - South Emerson | $1,134 |
| Speedway Woods | $1,133 |
| Crooked Creek | $1,128 |
| New Augusta Woods | $1,077 |
| Winchester Village | $1,072 |
| Eastbrooke Meadows | $1,070 |
| Otterbein | $1,065 |
| Deer Creek | $1,064 |
| Devington | $1,060 |
| Eagledale | $1,058 |
| North Perry | $1,056 |
| Arlington Woods | $1,054 |
| West Edgewood | $1,047 |
| Park Valley Estates | $1,043 |
| East Gate | $1,042 |
| Watson's | $1,042 |
| Christian Park | $1,036 |
| The Old Northside | $1,020 |
| Parc Estates | $993 |
| Irvington | $989 |
| Glicks East 38th St | $934 |
| Meadows - Fall Creek | $913 |
| Arlington Heights | $907 |
| Carson Heights | $905 |
| University Heights | $896 |
| Biltmore Gardens | $882 |
| Crown Hill | $788 |
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Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 41% higher than in Arlington Heights
$1,276
Allisonville rent is 20% lower than Indianapolis average
Average Rent
$1,276
$907
Arlington Heights rent is 43% lower than Indianapolis average
Average Rent
$907
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Downtown Indianapolis apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.