Broad Ripple Trails
5220 Luzzane Dr,
Indianapolis, IN 46220
$899 - $1,469
Studio - 3 Beds
Situated about six miles north of Downtown Indianapolis, the Fairgrounds neighborhood is a largely residential locale characterized by alluring bungalows and charming split-level homes along quiet residential streets, as well as stately brick apartment complexes lining Lemans Drive and Lemans Court.
The Indiana State Fairgrounds stands as the beating heart of the community, featuring 250 acres of historic buildings that host various concerts, expos, conferences, and sports games in addition to the highly anticipated Indiana State Fair. The neighborhood's somewhat secluded location away from major highways creates a peaceful environment that attracts a wide variety of renters looking for an affordable home in Indianapolis.
As of February 2026, the average apartment rent in Fairgrounds is $733 for a studio, $1,194 for one bedroom, $1,158 for two bedrooms, and $1,209 for three bedrooms. Apartment rent in Fairgrounds has increased by 1.4% in the past year.
Studio
430 sq ft
Average Sq Ft
$733/month
Average Rent
1 BR
657 sq ft
Average Sq Ft
$1,194/month
Average Rent
2 BR
911 sq ft
Average Sq Ft
$1,158/month
Average Rent
3 BR
1,109 sq ft
Average Sq Ft
$1,209/month
Average Rent
Somewhat Walkable
out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you’ll need a car.
Some Transit
out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Very Bikeable
out of 100 BikeScore® Rating
This area is very bikeable. You’ll find a variety of bike paths and lanes.
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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 2026.