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The Avenue
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Artistry Indy
(463) 666-2593
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The Vue Luxury Apartments
(844) 917-0421
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9 on Canal
(833) 457-2260
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Indy Flats
(317) 653-3340
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643 Fort Wayne Ave
(317) 272-7368
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28 E 16Th St
(463) 777-2692
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Riley Towers Apartments
(317) 434-1215
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1456 Hudson St
(317) 662-4890 ext: 1
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Ardmore
(317) 638-4444
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360 Market Square
(317) 815-0360
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747 Apartments
(463) 242-4588
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Luxury Condo Next To Union Station!!! (downtown!!!)
(317) 828-2878
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Luxury Condo Next To Union Station!!! (downtown!!!)
(317) 828-2878
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Amazing Top Floor Penthouse- Next To Union Station (250 S Meridian St)
(317) 828-2878
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2235 N Scioto St
(317) 494-2279
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Great Condo Near Downtown Indianapolis
(317) 828-2878
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2807 Indianapolis Ave
(317) 643-2585
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605 Udell St
(317) 719-2289
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607 Udell St
(317) 719-2289
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1240 W 26Th St
(317) 747-2247
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Pinnex
(317) 559-0892
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Edge 35
(317) 406-0541
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750 s state
(317) 747-2247
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750 S State Ave
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Apartments in Upper Canal Indianapolis

1 of 25 Results
38
$845 - 2,030
PER
ROOM
The Avenue
4.2
930 W 10Th St Indianapolis, IN
1 - 4 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Student
In Unit Laundry
47
$1,120 - 7,435
Artistry Indy
Deal
5.0
451 Emarket St Indianapolis, IN
Studio - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Storage
Downtown Indianapolis
50
$1,790 - 3,122
The Vue Luxury Apartments
718 E Georgia St. Indianapolis, IN
Studio - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
In Unit Laundry
Balcony, Deck, Patio
Fitness Center
56
$1,195 - 3,200
9 on Canal
Deal
1.8
335 W 9Th St Indianapolis, IN
1 - 3 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Covered Parking
In Unit Laundry
Balcony, Deck, Patio
25
$549 - 2,699
Indy Flats
2.0
1304 N. Delaware Street Indianapolis, IN
Studio - 4 BR | Ask for Availability
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Dog Friendly
Cat Friendly
Income Restricted
Section 8
Fitness Center
15
$1,995
643 Fort Wayne Ave
Indianapolis, IN
2 BR | Available Now
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Dog Friendly
House
Storage
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2
$675 - 3,500
28 E 16Th St
Indianapolis, IN
Studio - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Storage
Disability Access
Dishwasher
17
$867 - 1,910
Riley Towers Apartments
4.0
Indianapolis, IN
Studio - 3 BR | Available Now
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Furnished
Dog Friendly
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Air Conditioning
In Unit Laundry
17
$1,695
1456 Hudson St
Indianapolis, IN
2 BR | Ask for Availability
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Dishwasher
Old Northside
86
$1,280 - 3,690
Ardmore
Deal
231 N Pennsylvania St Indianapolis, IN
Studio - 2 BR | Jun. 26, 2023
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Dog Friendly
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In Unit Laundry
32
3D Tour
$1,685 - 6,995
360 Market Square
4.3
360 E Market St Indianapolis, IN
1 - 3 BR | Available Now
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In Unit Laundry
Balcony, Deck, Patio
33
$2,668 - 4,648
747 Apartments
Deal
4.2
747 N College Ave Indianapolis, IN
3 BR | Aug. 20, 2023
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7
$1,375
Luxury Condo Next To Union Station!!! (downtown!!!)
250 S Meridian St Indianapolis, IN
1 BR | Ask for Availability
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House
Air Conditioning
In Unit Laundry
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Downtown Indianapolis
7
$1,325
Luxury Condo Next To Union Station!!! (downtown!!!)
250 S Meridian St Indianapolis, IN
1 BR | Ask for Availability
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House
Air Conditioning
In Unit Laundry
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Downtown Indianapolis
8
$2,850
Amazing Top Floor Penthouse- Next To Union Station (250 S Meridian St)
250 S Meridian St Indianapolis, IN
3 BR | Ask for Availability
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Downtown Indianapolis
27
$1,950
2235 N Scioto St
Indianapolis, IN
2 BR | Available Now
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6
$1,700
Great Condo Near Downtown Indianapolis
2355 Central Ave Indianapolis, IN
2 BR | Ask for Availability
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19
$1,600
2807 Indianapolis Ave
Indianapolis, IN
3 BR | Available Now
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Balcony, Deck, Patio
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11
$975
605 Udell St
Indianapolis, IN
1 BR | Ask for Availability
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15
$975
607 Udell St
Indianapolis, IN
1 BR | Ask for Availability
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7
$795
1240 W 26Th St
Indianapolis, IN
4 BR | Available Now
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52
$1,626 - 4,163
Pinnex
Deal
5.0
931 Fletcher Avenue Indianapolis, IN
1 - 3 BR | Jun. 10, 2023
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54
$1,099 - 3,443
Edge 35
Deal
4.0
1224 Prospect St Indianapolis, IN
Studio - 2 BR | Available Now
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8
$2,000
750 s state
Indianapolis, IN
2 BR | Ask for Availability
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8
$1,050 - 1,900
750 S State Ave
Indianapolis, IN
1 - 3 BR | Ask for Availability
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1 - 25 of 25 Results
  1. Home
  2. Indianapolis
  3. Upper Canal

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 - $1,980
3BR $1,490 $830 - $2,390
4+BR $1,400 $800 - $2,620
Frequently Asked Questions

How many apartments are available in Indianapolis, IN on Rentable.co?

Rentable.co has over 48,088 apartments available in Indianapolis.

What is the average rent for a studio apartment in Indianapolis, IN?

The average rent for a studio apartment in Indianapolis is around $910 per month.

What is the average rent for a one-bedroom apartment in Indianapolis, IN?

The average rent for a one-bedroom apartment in Indianapolis is around $950 per month.

What is the average rent for a two-bedroom apartment in Indianapolis, IN?

The average rent for a two-bedroom apartment in Indianapolis is around $1,100 per month.

How expensive is living in Indianapolis, IN?

Based on average rent prices in Indianapolis, to afford a studio apartment you would need an annual salary of $36,000 to live comfortably.

Asset 2
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Apartments Under $700
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Indianapolis:
May Rent Report

Welcome to the May 2023 Indianapolis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 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 April to May

Indianapolis rent prices decreased over the last month. From April to May, 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 April to May, 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.

May 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.

May 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 May 1 BR M/M % Change 2 BR May 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%

Methodology

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.