How much does it cost to rent in Indianapolis, IN?

As of July 2026, the median monthly rent in Indianapolis, IN is $1,411. This figure is based on aggregated data from public sources and community-submitted rents.

Is Indianapolis cheaper than other Indiana cities?

Indianapolis falls in the middle range for Indiana, ranking #33 out of 65 cities at $1,411/mo.

When was Indianapolis rent data last updated?

Indianapolis rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Corbin Mathias / Unsplash

City Report · IN

Indianapolis

Name: Average Rent Prices in Indianapolis, IN
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 885,860·33rd most expensive in Indiana·One of the most affordable rental markets in the US

Median rent (all units)

$1,411/mo

Year-over-Year

+5.0%

Month-over-Month

-0.1%

vs US Median

-$554

Stable (Monthly)

Be the first to discuss Indianapolis rents ↓

Most AffordableMost Expensive

Indianapolis · $1,411

More affordable than 81% of US cities · National median $1,965/mo

Rent Reality Score

55/100

Fairly priced

OverheatedFairGreat value

Rents are 3% below what Indianapolis's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,411/mo

Expected by trend

$1,449/mo

The Rent Reality Score compares today's median rent to where Indianapolis's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,003

1 BR

$1,159

2 BR

$1,358

3 BR

$1,768

4 BR+

$2,143

Research median

$1,358/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$16,932/yr

At $1,411/mo median

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.0% YoY, -0.1% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Indianapolis, IN is majority owner-occupied, 34.9% of residents hold a bachelor's degree or higher.

Population

885,860

Median age

34.3

Renters

44%

Age distribution

24.8%

26.4%

24.5%

13.1%

Under 1824.8%

18–3426.4%

35–5424.5%

55–6411.2%

65+13.1%

Gender

48.6%

51.4%

Male48.6%

Female51.4%

Race & ethnicity

51.3%

27.9%

13.8%

White51.3%

Black27.9%

Hispanic13.8%

Asian4.2%

Other2.8%

Education (25+)

12.1%

26.7%

26.4%

34.9%

No HS diploma12.1%

HS diploma26.7%

Some college26.4%

Bachelor's+34.9%

Housing tenure

56%

44%

Owner56%

Renter44%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Indianapolis, IN has changed in 5 years

Rent

$1,022 → $1,411

up 38.1%

Population

864,447 → 885,860

up 2.5%

Renter share

46.9% → 44%

-2.9 pts

Bachelor's+

30.9% → 34.9%

+4.0 pts

Five years ago, renters in Indianapolis, IN paid around $1,022 a month. That figure now sits near $1,411, up 38.1% from the 2021 baseline. Census counts show Indianapolis, IN adding about 21,413 residents over the five-year window, up 2.5% on net. The renter share has eased from 46.9% to 44%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 30.9% to 34.9% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Indianapolis, IN market of 2021.

Community

Discussions about Indianapolis

No discussions yet. Start the conversation.

View Indianapolis rent history (2015–2026) →

Salary vs rent

Can you afford rent in Indianapolis on your salary?

At $1,411/mo, how Indianapolis rent compares to typical pay (30% rule).

Registered Nurse

Avg $86,922/yr · Rent = 19.5% income

very comfortable

Elementary School Teacher

Avg $61,714/yr · Rent = 27.4% income

affordable

Police Officer

Avg $71,088/yr · Rent = 23.8% income

affordable

Software Developer

Avg $127,061/yr · Rent = 13.3% income

very comfortable

Lawyer

Avg $162,352/yr · Rent = 10.4% income

very comfortable

Firefighter

Avg $57,785/yr · Rent = 29.3% income

affordable

Truck Driver

Avg $52,173/yr · Rent = 32.5% income

stretched

Electrician

Avg $64,308/yr · Rent = 26.3% income

affordable

By apartment size

Indianapolis rent by bedroom count

Median rent for each apartment size in Indianapolis. Click any size for full breakdown.

Local insights

Tips for renters in Indianapolis

About renting in Indianapolis, IN

Last updated: July 20, 2026

The median rent in Indianapolis is $1,411/mo as of July 2026. A studio apartment averages $1,003/mo while a 2-bedroom runs $1,358/mo. One-bedroom apartments average $1,159/mo and 3-bedroom units go for $1,768/mo.

At 24% of estimated US median household income ($72,000/yr), Indianapolis ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.

FAQ

Frequently asked questions

Is Indianapolis an affordable city for renters?

Indianapolis is considered very affordable for renters. At $1,411/mo, rent takes approximately 24% of the US median household income ($72,000/yr). The standard benchmark is 30%. Indianapolis falls comfortably within that range.

How much income do you need to rent in Indianapolis?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (~$27/hour full-time) to afford the median rent of $1,411/mo in Indianapolis.

Is rent going up or down in Indianapolis?

Rent in Indianapolis has increased 5.0% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Indianapolis neighborhoods have the lowest rent?

The most affordable ZIP codes in Indianapolis are 46219 ($1,009/mo), 46226 ($1,209/mo), and 46222 ($1,214/mo). Citywide, the median rent in Indianapolis is $1,411/mo.

How does Indianapolis rent compare to other cities in Indiana?

Indianapolis is middle-of-the-pack for Indiana for rent, ranking #33 out of 65 tracked cities at $1,411/mo.

Which nearby cities are cheaper to rent in than Indianapolis?

Beech Grove is nearby and more affordable at $1,219/mo, which is $192 less than Indianapolis.

What percentage of Indianapolis residents rent vs. own?

According to Census data, approximately 44% of Indianapolis households are renters, while 56% are owner-occupied. Indianapolis leans toward homeownership, which can mean a smaller rental inventory.

How does Indianapolis rent compare to the national average?

Indianapolis's median rent of $1,411/mo is $554 (28%) below the US national median of $1,965/mo. Within Indiana, it ranks #33 out of 65 tracked cities.

Income Affordability

24%

VERY AFFORDABLE

At $1,411/mo, rent takes ~24% of US median household income ($72,000/yr). The standard benchmark is 30%.

Indianapolis 24%Benchmark 30%

State income tax3.05%

Run the Indianapolis affordability calculator →

Nearby cities