The Block
50 N Illinois St,
Indianapolis, IN 46204
$1,539 - $3,929 | 1-3 Beds
Downtown Indianapolis is a true marvel of American urban design, and is rightly recognized as one of the stylistic gems of the Midwest. The grand architecture of the various government buildings and museums ranges from neoclassical to ultra-modern, creating a timeless and visually stunning environment. Huge monuments and war memorials punctuate the landscape as well – in fact, Indianapolis has more such public tributes than any city in America apart from Washington, DC.
Downtown features a thriving nightlife scene, mainly along Meridian Street and Massachusetts Avenue and incorporating an immense selection of bars, clubs, and live music venues for every taste. The dining is unbeatable, with world-class restaurants of every description within a short walk from anywhere and the popular Food Truck Fridays delivering more eclectic fare during the summer months.
The Downtown housing market is unique and diverse, ranging from upscale high-rise units to an abundance of surprisingly affordable studio apartments, and dozens of apartment buildings appear on the National Register of Historic Places. The abundance of lower-cost options is great for students (as well as faculty and staff) attending Indiana University - Purdue University Indianapolis, whose campus sits along the White River on the west side of Downtown.
As of March 2025, the average apartment rent in Downtown Indianapolis is $1,245 for a studio, $1,443 for one bedroom, $1,833 for two bedrooms, and $2,759 for three bedrooms. Apartment rent in Downtown Indianapolis has increased by 1.2% in the past year.
Studio
564 sq ft
Average Sq Ft
$1,245/month
Average Rent
1 BR
733 sq ft
Average Sq Ft
$1,443/month
Average Rent
2 BR
1,092 sq ft
Average Sq Ft
$1,833/month
Average Rent
3 BR
1,107 sq ft
Average Sq Ft
$2,759/month
Average Rent
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.