The Residences on 56th Street
6800 Brendon Way W Dr,
Indianapolis, IN 46226
1-3 Beds | $1,069 - $1,879
Rental Market Trends in Indianapolis, IN
What is the average rent in Indianapolis, IN?
$1,116/month
Average Rent
698 Sq Ft
Average Apartment Size
+1.9%
Increase in the Last Year
As of April 2025, the average rent in Indianapolis, IN is $1,116 per month. This is 29% lower than the national average rent of $1,575/month, making renting in Indianapolis more affordable than most cities in the US. When you rent an apartment in Indianapolis, you can expect to pay about $964 per month for a studio, $1,116 for a one-bedroom apartment, and around $1,314 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,517 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Indianapolis, IN?
In the past year, rent has increased by 1.9%, which averages out to $21 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2025
Legend
2024
2025
Rent Ranges in Indianapolis, IN
Last Updated April 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
10%
Below $700/month
26%
$700 - $1,000/month
49%
$1,001 - $1,500/month
14%
$1,501 - $2,000/month
2%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Indianapolis?
Based on current rent prices, Crooked Creek, Eagle Creek and Near Northside are the most affordable neighborhoods in Indianapolis.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Indianapolis?
Based on current rent prices, Market East, North Meridian and Chatham Arch are the most expensive neighborhoods in Indianapolis.
Neighborhood
Average Rent
Average Sq Ft
Which Indianapolis neighborhoods have the most rentals available?
The neighborhoods in Indianapolis with the most apartments available are Downtown Indianapolis, North Central and Circle City .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Indianapolis, IN?
Because the average rent in Indianapolis is $1,116, you’ll want to make about $3,720 per month or $44,640 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Indianapolis, IN is 9.7% lower than the national average. Generally, housing in Indianapolis is 22.1% less expensive than the national average, with rent falling between $964 - $1,517. You can expect to pay 0.6% less for groceries, 4.6% less for utilities, and 4.4% less for transportation.
How does Indianapolis, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare Indianapolis, IN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$873/month
$1,273/month
One Bedroom
$912/month
$1,745/month
Two Bedroom
$1,172/month
$2,092/month
Three Bedroom
$1,471/month
$2,426/month
Apartment communities in Indianapolis we think you'll love
Property Management Companies in Indianapolis, IN
Birge & Held
-
90
Communities
-
19,909
Units
-
45
Cities
25 Communities in Indianapolis
Van Rooy
-
51
Communities
-
9,000
Units
-
26
Cities
25 Communities in Indianapolis
Barrett & Stokely
-
42
Communities
-
10,435
Units
-
17
Cities
23 Communities in Indianapolis
Elon Property Management
-
106
Communities
-
13,415
Units
-
63
Cities
22 Communities in Indianapolis
Muesing Management
-
19
Communities
-
3,777
Units
-
4
Cities
15 Communities in Indianapolis
Gene B. Glick Company
-
35
Communities
-
8,681
Units
-
21
Cities
13 Communities in Indianapolis
CYM Living
-
47
Communities
-
9,830
Units
-
14
Cities
13 Communities in Indianapolis
The Ardizzone Group
-
14
Communities
-
5,134
Units
-
3
Cities
13 Communities in Indianapolis
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† 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.
* Percentages may not total 100 due to rounding.