The Canal

Indianapolis, IN

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The Canal - Indianapolis, IN

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Discover the history and excitement of Indy's Central Canal

Walkable Bike-Friendly Downtown Canal Waterfront River

Constructed around 1830, Indianapolis' Central Canal brings an old-world charm to Downtown Indy. The neighborhood that surrounds this historic waterway is simply referred to as "the Canal." The Canal offers great shops, restaurants, the Downtown Canal Walk, and a lively scene that includes gondolas, pedal boats, and surreys. The neighborhood is close to Butler University, providing a student vibe to the community as well. Other nearby attractions include White River State Park, the Indianapolis Museum of Art, and the Indiana Historical Society.

In the early 1800s, the residents of Indiana -- who up to this point relied on horses to transport goods -- were inspired by the construction of the Erie Canal in New York. When construction started in 1836, the plan was to extend the canal 296 miles. Three years later, the state faced bankruptcy and the project was halted. But while only eight of the dug miles were operational, the canal brought a variety of workers and industries to the area, helping the city to grow. Today, the canal is an American Water Landmark.

Rent Trends

As of February 2025, the average apartment rent in The Canal is $1,313 for a studio, $1,368 for one bedroom, $1,715 for two bedrooms, and $2,950 for three bedrooms. Apartment rent in The Canal has increased by 0.5% in the past year.

  • Studio

  • 692 sq ft

    Average Sq Ft

  • $1,313/month

    Average Rent

  • 1 BR

  • 732 sq ft

    Average Sq Ft

  • $1,368/month

    Average Rent

  • 2 BR

  • 1,122 sq ft

    Average Sq Ft

  • $1,715/month

    Average Rent

  • 3 BR

  • 1,244 sq ft

    Average Sq Ft

  • $2,950/month

    Average Rent

Transportation

78

Very Walkable

out of 100 WalkScore® Rating

If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.

57

Good Transit

out of 100 TransitScore® Rating

The area around this property has good transit with many nearby transportation options.

93

Biker's Paradise

out of 100 BikeScore® Rating

Do you prefer to get around on two wheels? You’ll love living in this neighborhood, which is considered a biker’s paradise.

Points of Interest

Parks and Recreation

  • Indiana State Museum
  • White River State Park
  • White River Gardens
  • Indianapolis Zoo
  • University Park

Commuter Rail

Airports

  • Indianapolis International

Top Apartments in The Canal

Houses for Rent in The Canal

Property Management Companies

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