The Residences on 56th
6800 Brendon Way W Dr,
Indianapolis, IN 46226
1-3 Beds | $1,050 - $1,879
Rental Market Trends in Indianapolis, IN
Updated August 2026
The average rent in Indianapolis, IN is $1,125/month.
Rent in Indianapolis is 32% lower than the national average rent of $1,663/month, making this one of the less expensive cities statewide.
$1,125/month
Average Rent
700 Sq Ft
Average Size
+0.7%
Change / Year
11,792
Available Apartments
Indianapolis rent varies by unit size and layout:
- Studio apartments in Indianapolis average $988 per month.
- One-bedroom apartments in Indianapolis average $1,125 per month.
- Two-bedroom apartments in Indianapolis average $1,334 per month.
- Three-bedroom apartments in Indianapolis average $1,550 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Indianapolis, IN?
In the past year, rent has increased by 0.7%, which averages out to $9 more per month.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in Indianapolis, IN
August 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
7%
Below $700/month
24%
$700 - $1,000/month
51%
$1,001 - $1,500/month
16%
$1,501 - $2,000/month
2%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Indianapolis?
Based on current rent prices, Eastside, Arlington Woods and Bates-Hendricks 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 Airport 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, Circle City and North Central .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Indianapolis, IN?
Because the average rent in Indianapolis is $1,125, you’ll want to make about $3,750 per month or $45,000 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 10.3% lower than the national average. Generally, housing in Indianapolis is 24.6% less expensive than the national average, with rent falling between $988 - $1,550. You can expect to pay 0.1% more for groceries, 6.5% less for utilities, and 0.8% 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.
View the Indianapolis Area GuideStudio
$794/month
$1,206/month
One Bedroom
$719/month
$1,658/month
Two Bedroom
$806/month
$2,627/month
Three Bedroom
$922/month
$2,407/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Indianapolis We Think You'll Love
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
Guides for Managing Your Rental
Frequently Asked Questions
What is the average rent in Indianapolis?
The average rent in Indianapolis is $1,125 per month, which is 32.4% lower than the national average of $1,663.
What is the average rent for a house in Indianapolis?
The average rent for a house in Indianapolis, IN is $1,815 per month.
What is the average rent for a townhome in Indianapolis?
The average rent for a townhome in Indianapolis, IN is $1,473 per month.
What is the average rent for a condo in Indianapolis?
The average rent for a condo in Indianapolis, IN is $1,139 per month.
Are rents going up or down in Indianapolis?
Rents in Indianapolis, IN are increasing, with prices up 0.7% year-over-year and $9 more per month.
What rent range is most common in Indianapolis?
In Indianapolis, IN, 51% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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.
* Percentages may not total 100 due to rounding.