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Homes & Apartments for Rent in Indianapolis, IN 46227

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What to Know About

Living in 46227

Indianapolis is a beautiful city that blends history, culture, and modern amenities to offer you an unforgettable experience. Nestled in the heart of Indiana, this dynamic city is a bustling hub of arts, sports, and natural beauty. Discover iconic landmarks such as the Soldiers and Sailors Monument and the Indiana State Museum, or indulge in your love for art and music at the renowned Indianapolis Museum of Art and the Indianapolis Symphony Orchestra.

For sports enthusiasts, the world-class Lucas Oil Stadium is home to the iconic Indianapolis Colts (NFL) and the Indiana Pacers (NBA), offering an adrenaline-fueled experience for basketball fans. Nature lovers can immerse themselves in the city's many parks and green spaces, such as the Indianapolis Zoo and White River State Park. Downtown Indianapolis offers an array of shopping and dining options and exciting events like the Indianapolis 500, the Indy Fringe Festival, and the Gen Con gaming convention.

Indianapolis always manages to charm you with its high quality of life and dynamic energy, and take advantage of the chance to call this incredible city your home.

Rental Market Trends

Indianapolis, IN

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As of October 2026, Indianapolis's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Indianapolis's average rent is 3.8% ($48) lower than the Indiana average of $1,270 and 32.8% ($597) lower than the U.S. average of $1,819.

Average Rent
$1,222
Monthly ChangeMonth Over Month Change
Increased0.9% ($11)
Yearly ChangeYear Over Year Change
Decreased2.5% ($31)
Avg. Days on MarketAverage Days on Market
36
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,053 Increased1.2% ($12) Decreased1.8% ($19)
2 Beds $1,304 Increased0.3% ($4) Decreased1.5% ($20)
3 Beds $1,519 Decreased2.2% ($34) Increased0.6% ($9)
Nearby Cities Average Rent Avg. Rent vs. IndianapolisAverage Rent vs. Indianapolis Avg. Days on MarketAverage Days on Market
Beech Grove $1,096 Decreased10.3% ($126) 33 days
Carmel $2,047 Increased67.5% ($825) 48 days
Greenwood $1,209 Decreased1.1% ($13) 32 days
Brownsburg $1,132 Decreased7.4% ($90) 32 days
Avon $1,861 Increased52.3% ($639) 34 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Indianapolis Rental Market FAQs

Explore rental prices, market conditions, and affordability in Indianapolis, IN.

The average rent in Indianapolis, IN is $1,222 per month.
In Indianapolis, the average rent for a 1-bedroom home is $1,053 per month, for a 2-bedroom home, $1,304 per month, and a 3-bedroom home is $1,519 per month.
The average rent in Indianapolis is 32.8% ($597) lower than the national average of $1,819 per month.
The rental market in Indianapolis, IN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
Based on the current averages, a household would need an annual income of $52,160 to comfortably afford a 2-bedroom home in Indianapolis.
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