Lockerbie Lofts
640 E Michigan St,
Indianapolis, IN 46202
$1,406 - $3,639
Studio - 2 Beds
Area Guide
Lockerbie Square Indianapolis, IN
Indy's most historic mile
Downtown
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Walkable
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Historic
Lockerbie Square developed as Indianapolis' first "suburban" neighborhood because it was a short walk from downtown. The original one-mile square, the oldest section of the neighborhood, dates back to 1821. The neighborhood is named for the Lockerbie family, the founders of the neighborhood. James Whitcomb Riley, a famous poet, lived in the neighborhood. His house is now a museum and a National Historic Landmark. As one of the most intact historic districts in Indianapolis, the neighborhood is filled with elegant homes ranging from Queen Anne to Italianate. The James Ray-Buscher House is one of the oldest homes in the city, built in 1835. Lockerbie Square is adjacent to downtown on its northeast side, starting just before East Street and extending east to I-70.
Rent Trends
As of July 2026, the average apartment rent in Lockerbie Square is $1,366 for a studio, $1,627 for one bedroom, and $2,130 for two bedrooms. Apartment rent in Lockerbie Square has increased by 14.5% in the past year.
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Studio
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578 sq ft
Average Sq Ft
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$1,366/month
Average Rent
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1 BR
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772 sq ft
Average Sq Ft
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$1,627/month
Average Rent
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2 BR
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1,023 sq ft
Average Sq Ft
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$2,130/month
Average Rent
Learn More About Lockerbie Square
Getting Around
Explore how walkable, bikeable, drivable, and transit-friendly Lockerbie Square - Indianapolis, IN is for everyday living.
Very Walkable
Walkability
80
/ 100
Some Public Transit
Transit
50
/ 100
Fairly Drivable
Drivability
50
/ 100
Exceptionally Bikeable
Bikeability
90
/ 100
Daily Essentials
In Lockerbie Square - Indianapolis, IN, daily errands are quick and hassle-free.
Supermarket Within a 5 Minute Walk
Groceries
90
/ 100
Exceptional Restaurant Variety Nearby
Restaurants
90
/ 100
Exceptional Café Variety Nearby
Cafes
90
/ 100
Good Variety of Shops Nearby
Shopping
70
/ 100
Recreation
Lockerbie Square - Indianapolis, IN provides green space and wellness resources in certain areas.
Large Amount of Park Space Nearby
Parks
60
/ 100
Fair Wellness Amenity Variety Nearby
Wellness
40
/ 100
Local Vibe
Get a sense of what it’s like to live in Lockerbie Square - Indianapolis, IN from everyday activity to noise and nightlife.
Vibrant Atmosphere
Vibrancy
60
/ 100
Exceptional Nightlife Variety Nearby
Nightlife
90
/ 100
Moderately Noisy
Quiet Score
40
/ 100
Scores provided by
Points of Interest
Shopping Centers
Parks and Recreation
- University Park
- Indiana State Museum
- JTV Hill Park
- White River State Park
- White River Gardens
Commuter Rail
Airports
- Indianapolis International
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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 June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.