Indianapolis renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
Luxury
High-end
Mid-tier
Most affordable
On average, the cost of rent in Indianapolis is about $1,226 per month. This puts it in the 93rd percentile compared to the state average cost of rent, which is $1,043. Households in Indianapolis have a median income of $5,946 per month so the average renter in Indianapolis is spending roughly 21% of their earnings on housing.
Nationally, and in Indianapolis, home values are the data point most closely correlated with the cost of rent. The median price of a home in Indianapolis is $243,114 right now, which is lower than cities nearby, meaning that rents in Indianapolis also tend to be lower versus these nearby cities.
Higher rent prices are common in the northern parts of Indianapolis while lower rent rates are often available in southwestern areas.
Nearby Cities
- Indianapolis, IN: comparable rent prices
- Wynnedale, IN: less expensive rent prices
- Rocky Ripple, IN: more expensive rent prices
- Warren Park, IN: less expensive rent prices
- Beech Grove, IN: less expensive rent prices
- Speedway, IN: less expensive rent prices
- Meridian Hills, IN: more expensive rent prices
- Williams Creek, IN: more expensive rent prices
- Homecroft, IN: less expensive rent prices
- Southport, IN: less expensive rent prices
Cities with Similar Populations
- San Francisco, CA: more expensive rent prices
- Charlotte, NC: more expensive rent prices
- Albany, NY: more expensive rent prices
- New Haven, CT: more expensive rent prices
- Jacksonville, FL: more expensive rent prices
- Bakersfield, CA: more expensive rent prices
- Greenville, SC: less expensive rent prices
- McAllen, TX: less expensive rent prices
- Oxnard, CA: more expensive rent prices
- El Paso, TX: less expensive rent prices
All Local Stats
Home Services
No other site shows detail at this level for free. We are able to keep this site free by receiving a small commission from the referring links below if you book, rent, or request a lead at no cost to you. Please share or cite this page if you aren't able to otherwise support our work.
Map interface © Mapbox © OpenStreetMap Map data and content © bestneighborhood