South Indianapolis, Indianapolis, IN Rental Market Trends
Last updated: May 18, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in South Indianapolis is $1,225, a 1.95% increase compared to the previous year, when the average rent was $1,202.
Studio Apartments at $789 offer the most budget-friendly option with 346 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 704 square feet for $1,073, balancing privacy and affordability.
Two-beedroom units at $1,283 offer 965 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,248 sq ft) for $1,525, suitable for larger households.
Average rent in South Indianapolis, Indianapolis, IN
Last updated: May 18, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,225 | 891 sq. ft. |
| Studio | $789 | 346 sq. ft. |
| 1 Bed | $1,073 | 704 sq. ft. |
| 2 Beds | $1,283 | 965 sq. ft. |
| 3 Beds | $1,525 | 1,248 sq. ft. |
South Indianapolis, Indianapolis, IN rent trends
Rental prices in South Indianapolis, Indianapolis, IN have increased by 1.95% over the past year. The average rent moved from $1,202 to $1,225.
What's the typical rent budget in South Indianapolis, Indianapolis, IN?
The largest share of rentals in South Indianapolis, Indianapolis, IN (66%) 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 South Indianapolis, Indianapolis, IN?
22,579 or 39% of the households in South Indianapolis, Indianapolis, IN are renter-occupied while 35,393 or 61% are owner-occupied.
Most affordable neighborhoods in South Indianapolis?
Crown Hill $792/month
Carson Heights $955/month
Meadows - Fall Creek $962/month
All of these neighborhoods fall below the city wide average of $1,271/month.Most expensive neighborhoods in South Indianapolis?
Clermont Lakes $1,637/month
Sycamore Run $1,677/month
North Meridian $1,873/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 | $1,873 |
| Sycamore Run | $1,677 |
| Clermont Lakes | $1,637 |
| Wholesale District | $1,634 |
| Chatham Arch and Mass Avenue | $1,624 |
| Fountain Square | $1,621 |
| Meridian - Kessler | $1,602 |
| Herron - Morton Place | $1,592 |
| The Canal and White River State Park | $1,581 |
| Fletcher Place | $1,581 |
| St. Joseph | $1,549 |
| North Harrison Park | $1,478 |
| Reagan Park | $1,470 |
| Broad Ripple | $1,459 |
| Keystone at The Crossing | $1,459 |
| College Park | $1,448 |
| Mapleton - Fall Creek | $1,414 |
| Fairgrounds | $1,394 |
| Bayswater - Eagles Watch | $1,388 |
| Valley Mills | $1,348 |
| Castleton | $1,346 |
| Delaware Trails | $1,340 |
| Summerfield Place | $1,329 |
| North Willow | $1,326 |
| Sherman Commons | $1,317 |
| Crooked Creek Heights | $1,298 |
| Castle Ridge | $1,282 |
| Shadow Wood South | $1,273 |
| Parkwood Terrace | $1,264 |
| Marian - Cold Springs | $1,256 |
| Willow Lakes | $1,230 |
| Lake Maxinhall Estates | $1,218 |
| Ivy Hills | $1,212 |
| Allisonville | $1,210 |
| Tempo North | $1,201 |
| Trinity Manor | $1,195 |
| Liberty Creek | $1,189 |
| Speedway Woods | $1,187 |
| Wedgewood | $1,184 |
| Central Nora | $1,183 |
| Eagle Cove | $1,176 |
| Westchester Estates | $1,175 |
| The Highlands | $1,172 |
| Christian Park | $1,168 |
| Mars Hill | $1,161 |
| Sheffield Woods | $1,160 |
| Mount Auburn | $1,145 |
| Winchester Village | $1,140 |
| Park Valley Estates | $1,121 |
| Eagledale | $1,093 |
| Crooked Creek | $1,092 |
| Arlington Woods | $1,091 |
| Eastbrooke Meadows | $1,086 |
| North Perry | $1,083 |
| Devington | $1,079 |
| New Augusta Woods | $1,076 |
| Deer Creek | $1,067 |
| Parc Estates | $1,032 |
| Irvington | $1,016 |
| Arlington Heights | $970 |
| Meadows - Fall Creek | $962 |
| Carson Heights | $955 |
| Crown Hill | $792 |
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Indianapolis | Rent Comparison by Neighborhood
Rent in Allisonville is 25% higher than in Arlington Heights
$1,210
Allisonville rent is 1% lower than Indianapolis average
Average Rent
$1,210
$970
Arlington Heights rent is 21% lower than Indianapolis average
Average Rent
$970
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 South 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.