Apartments in Lexington Farms Indianapolis

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801 N Shortridge Rd
Indianapolis, IN
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How much does it cost to rent an apartment in Indianapolis?

Indianapolis Apartments
Bed Type Average Rent Range
Studio $910 $550 - $1,680
1BR $950 $650 - $1,590
2BR $1,100 $750 - $1,990
3BR $1,480 $820 - $2,500
4+BR $1,400 $800 - $2,530

June Rent Report

Welcome to the June 2023 Indianapolis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the June 2023 key findings and figures for the Indianapolis rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Indianapolis and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Indianapolis average rent prices in the chart below.

Monthly Rent Report

Indianapolis Rent Prices Decrease From May to June

Indianapolis rent prices decreased over the last month. From May to June, the city experienced a -1.38% decrease for the price of a one-bedroom apartment. The rent price for a Indianapolis one-bedroom apartments currently stands at $932.0.

When we take a look at the two-bedroom comparison from May to June, Indianapolis experienced a -2.08% decrease for the price of a two-bedroom apartment. The rent price for a Indianapolis two-bedroom apartments currently stands at $1,177.0.

June Prices: Indianapolis vs. Surrounding Areas

Rent Prices in Indianapolis and Surrounding Areas

Rent prices have decreased in Indianapolis over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Indianapolis suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Plainfield, IN, Noblesville, IN, Camby, IN .

  • Rent decreased in Carmel, IN, Westfield, IN, Greenwood, IN.

  • 5 suburbs are currently priced higher than the city of Indianapolis.

  • 1 suburb is currently priced lower than the city of Indianapolis.

June 2023 Pricing Trends: Indianapolis vs. National Comparisons

Indianapolis Rent Prices More Affordable Than Major Cities

Rent growth in Indianapolis over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Indianapolis average rent prices appear to be relatively affordable for local residents.

The price for a Indianapolis one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Indianapolis and surrounding area rent prices, take a look at the complete data set below.

Data set for Indianapolis and suburbs

1 BR June 1 BR M/M % Change 2 BR June 2 BR M/M % Change
Indianapolis, IN $945.0 0.11% $1,202.0 -1.15%
Carmel, IN $1,364.0 -2.50% $1,633.0 -0.24%
Westfield, IN $1,245.0 -0.56% $1,520.0 -6.69%
Greenwood, IN $922.0 -0.65% $1,286.0 -0.70%
Plainfield, IN $1,607.0 0.31% $1,824.0 0.39%
Noblesville, IN $1,240.0 1.81% $1,616.0 0.81%
Camby, IN $1,255.0 5.11% $1,425.0 -1.66%


Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.