Cheap Apartments for Rent in Indianapolis, IN
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PET FRIENDLYINCOME RESTRICTED$642 - $1,454/mo
1-3 Beds
1-2 BathsEmerson Place Apartments | 2110 Emerson Knoll Pl,
Indianapolis, IN 46218
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SPECIAL OFFERPET FRIENDLY$659 - $865/moStudio-1 Bed1 BathSerenity Manor Indianapolis | 1123 N Edmondson Ave,
Indianapolis, IN 46219
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SPECIAL OFFERPET FRIENDLY$684 - $750/mo1 Bed1 BathSuites of Irvington Apartments | 5730 E Washington St,
Indianapolis, IN 46219
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SPECIAL OFFERPET FRIENDLY$692 - $753/mo1 Bed1 BathBalsam Avenue Apartments: The Courts | 3606 Balsam Ave,
Indianapolis, IN 46205
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Average Rent Trends in Indianapolis, IN
Rent in Indianapolis, IN varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in Oct 2026 compared to the previous month. Rent previously peaked in Jul 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $1,499 |
| Dec 2025 | $1,475 |
| Jan 2026 | $1,480 |
| Feb 2026 | $1,470 |
| Mar 2026 | $1,490 |
| Apr 2026 | $1,500 |
| May 2026 | $1,500 |
| Jun 2026 | $1,500 |
| Jul 2026 | $1,499 |
| Aug 2026 | $1,500 |
| Sep 2026 | $1,500 |
| Oct 2026 | $1,500 |
Average Rent By Bedroom and Home Type
In October 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,021 | $1,317 | $1,728 | $2,075 | $1,500 |
| Townhomes | $900 | $1,400 | $1,695 | $2,095 | $1,500 |
| Apartments and Condos | $950 | $1,350 | $1,600 | $1,800 | $1,295 |
| Houses | $850 | $1,275 | $1,775 | $2,100 | $1,770 |
Frequently Asked Questions about Rentals in Indianapolis, IN
- What is the average rent of an apartment in Indianapolis, IN?The average rent of an apartment in Indianapolis, IN is $1,173 per month. This is about 40% lower than the national average.
- What are the cheapest months to find an apartment to rent in Indianapolis, IN?Last year, the cheapest month to find an apartment to rent was Jan 2025 when it was $1,400 per month.
- How many cheap apartments are available in Indianapolis, IN?There are 1,408 apartments to rent that are cheaper than the city’s average rent of $1,500.
- When is the average rent most expensive in Indianapolis, IN?In the last year, the average rent in Indianapolis, IN was highest in Jul 2025 when it was $1,549 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in Indianapolis, IN?The average rent of a 1 bedroom apartment in Indianapolis, IN is $1,021 per month. That is about $38 less than the cost of a studio apartment.
- What colleges and universities are in Indianapolis, IN?Colleges and universities in Indianapolis, IN include: Indiana University Indianapolis, University of Indianapolis.
- What are some neighborhoods in Indianapolis, IN?Some neighborhoods in Indianapolis, IN include: Far Eastside, Chapel Hill-Ben Davis, Near Eastside, Snacks-Guion Creek, East Warren.
- What are some zip codes in Indianapolis, IN?
- What are some cities near Indianapolis, IN?Some nearby cities include: Beech Grove, Speedway, Southport, Lawrence, Cumberland. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en Indianapolis, IN - 7,649 Rentas | Trulia