Downtown Indianapolis, Indianapolis, IN Rental Market Trends
Last updated: April 12, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Indianapolis is $1,614, a 0.72% increase compared to the previous year, when the average rent was $1,603.
Studio Apartments at $1,277 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 $1,480, balancing privacy and affordability.
Two-beedroom units at $1,904 offer 1,115 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,455 sq ft) for $2,860, suitable for larger households.
Average rent in Downtown Indianapolis, Indianapolis, IN
Last updated: April 12, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,614 | 850 sq. ft. |
| Studio | $1,277 | 536 sq. ft. |
| 1 Bed | $1,480 | 742 sq. ft. |
| 2 Beds | $1,904 | 1,115 sq. ft. |
| 3 Beds | $2,860 | 1,455 sq. ft. |
Downtown Indianapolis, Indianapolis, IN rent trends
Rental prices in Downtown Indianapolis, Indianapolis, IN have increased by 0.72% over the past year. The average rent moved from $1,603 to $1,614.
What's the typical rent budget in Downtown Indianapolis, Indianapolis, IN?
The largest share of rentals in Downtown Indianapolis, Indianapolis, IN (47%) 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?
7,962 or 79% of the households in Downtown Indianapolis, Indianapolis, IN are renter-occupied while 2,127 or 21% are owner-occupied.
Most affordable neighborhoods in Downtown Indianapolis?
Crown Hill $803/month
University Heights $895/month
Biltmore Gardens $934/month
All of these neighborhoods fall below the city wide average of $1,252/month.Most expensive neighborhoods in Downtown Indianapolis?
Clermont Lakes $1,637/month
Sycamore Run $1,663/month
North Meridian $1,848/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 | $1,848 |
| Sycamore Run | $1,663 |
| Clermont Lakes | $1,637 |
| Wholesale District | $1,615 |
| Meridian - Kessler | $1,613 |
| Fountain Square | $1,608 |
| Chatham Arch and Mass Avenue | $1,604 |
| Riverside | $1,603 |
| Oxbow Estates | $1,596 |
| Herron - Morton Place | $1,580 |
| Fletcher Place | $1,575 |
| Windcombe | $1,573 |
| The Canal and White River State Park | $1,550 |
| St. Joseph | $1,531 |
| Devonshire | $1,491 |
| Cole Noble | $1,481 |
| North Harrison Park | $1,467 |
| College Park | $1,450 |
| Keystone at The Crossing | $1,441 |
| Greenbrooke | $1,438 |
| Broad Ripple | $1,435 |
| Reagan Park | $1,430 |
| Mapleton - Fall Creek | $1,402 |
| Bayswater - Eagles Watch | $1,367 |
| Fairgrounds | $1,364 |
| Sonesta | $1,362 |
| Southern Springs | $1,358 |
| Chapel Hill | $1,356 |
| Delaware Trails | $1,350 |
| Castleton | $1,336 |
| Valley Mills | $1,332 |
| Summerfield Place | $1,326 |
| Crooked Creek Heights | $1,326 |
| The Park at Buffalo Creek | $1,308 |
| North Willow | $1,300 |
| Shadow Wood South | $1,295 |
| Briarstone Villas | $1,276 |
| Marian - Cold Springs | $1,269 |
| Castle Ridge | $1,268 |
| Parkwood Terrace | $1,250 |
| Fall Creek Manor | $1,229 |
| Willow Lakes | $1,212 |
| Rosewood | $1,209 |
| Lake Maxinhall Estates | $1,206 |
| Ivy Hills | $1,200 |
| Allisonville | $1,200 |
| Tempo North | $1,199 |
| Eagle Cove | $1,192 |
| Sherman Commons | $1,183 |
| Mount Auburn | $1,182 |
| Trinity Manor | $1,181 |
| East Avalon Hills | $1,179 |
| The Highlands | $1,177 |
| Liberty Creek | $1,175 |
| Central Nora | $1,173 |
| Wedgewood | $1,171 |
| Speedway Woods | $1,164 |
| Sheffield Woods | $1,157 |
| Mars Hill | $1,157 |
| Westchester Estates | $1,156 |
| Christian Park | $1,155 |
| I65 - South Emerson | $1,146 |
| The Islands | $1,126 |
| Park Valley Estates | $1,108 |
| Winchester Village | $1,108 |
| Arlington Woods | $1,079 |
| Eagledale | $1,077 |
| Eastbrooke Meadows | $1,074 |
| North Perry | $1,072 |
| Devington | $1,072 |
| Crooked Creek | $1,066 |
| New Augusta Woods | $1,061 |
| Deer Creek | $1,056 |
| West Edgewood | $1,048 |
| Watson's | $1,042 |
| East Gate | $1,040 |
| The Old Northside | $1,036 |
| Irvington | $1,005 |
| Otterbein | $1,000 |
| Parc Estates | $995 |
| Arlington Heights | $959 |
| Carson Heights | $954 |
| Meadows - Fall Creek | $944 |
| Glicks East 38th St | $935 |
| Biltmore Gardens | $934 |
| University Heights | $895 |
| Crown Hill | $803 |
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Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 25% higher than in Arlington Heights
$1,200
Allisonville rent is 26% lower than Indianapolis average
Average Rent
$1,200
$959
Arlington Heights rent is 41% lower than Indianapolis average
Average Rent
$959
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.