Average Rent in Indianapolis & Rent Price Trends

Considering a move to Indianapolis? Before you start apartment hunting, learn about the local rental market. Make sure you know the average rent in Indianapolis to get your budget started!

Average Rent in Indianapolis

• The average rent for a Indianapolis studio apartment is $1,285
• The average rent for a Indianapolis 1-bedroom apartment is $1,212
• The average rent for a Indianapolis 2-bedroom apartment is $1,409
• The average rent for a Indianapolis 3-bedroom apartment is $1,512

Note: The data provided reflects our available units on Apartment List. For data that reflects the entire market, we recommend you visit our Rent Report, which is created based on our holistic methodology. You can also download the raw data containing rent estimates for hundreds of cities across the country.

Indianapolis Rent Trends: Rent Growth

Indianapolis rents have increased by 1.97% compared to last month, and are up by 9.68% compared to last year.

Indianapolis Rent Trends: Inventory by Average Apartment Rent

• 27% of apartments in Indianapolis cost less than $1,000 per month.
• 65% of apartments in Indianapolis cost between $1,000-$1,999 per month.
• 6% of apartments in Indianapolis cost between $2,000-$2,999 per month.
• 2% of apartments in Indianapolis cost over $3,000 per month.

Indianapolis Rent Trends: Inventory by Apartment Type

• 8% of apartments in Indianapolis are studio apartments.
• 34% of apartments in Indianapolis are 1-bedroom apartments.
• 38% of apartments in Indianapolis are 2-bedroom apartments.
• 20% of apartments in Indianapolis are 3-bedroom apartments.

What Salary Do You Need to Live in Indianapolis?

Using the 30% rule, we can give a rough estimate of the salary needed to rent an apartment in Indianapolis. If these numbers look high, remember that a roommate or two can drastically cut down your monthly rent!

• If you are renting an average priced studio apartment in Indianapolis, your annual salary should be around $51,400 or higher.
• If you are renting an average priced 1-bedroom apartment in Indianapolis, your annual salary should be around $48,480 or higher.
• If you are renting an average priced 2-bedroom apartment in Indianapolis, your annual salary should be around $56,360 or higher.
• If you are renting an average priced 3-bedroom apartment in Indianapolis, your annual salary should be around $60,480 or higher.

Having trouble deciding how much rent you can afford? Try using a rent calculator.

Ready to make the move to Indianapolis? Start apartment hunting in Indianapolis with our quiz!