Indianapolis, IN Rental Market
Indianapolis is a rising Midwest hub anchored by Eli Lilly (pharmaceutical HQ), the Indianapolis Motor Speedway, and a growing FedEx logistics operation that has made Indy one of the top freight airports in the country. A fast-expanding tech sector, strong convention economy, and Indiana University Health system provide diverse employment and consistent rental demand. The market combines Midwest affordability with above-average growth fundamentals.
Get a rent estimate for an address in IndianapolisAverage Rent in Indianapolis, IN
$1,180
per month · 2026-06
Market Score
Key Facts — Indianapolis, IN Rental Market
- Average rent in Indianapolis, IN:$1,180/mo
- Median rent:$1,086/mo
- Rent range:$600 – $2,600/mo
- Most common rental (2 bedrooms):$1,050/mo
- Active listings:2,600
- Avg days to lease:29 days
- Year-over-year change:+3.5%
- Median home value:$210,000
- Est. gross annual yield:6.7%
- Data as of:2026-06
Rent by Bedroom in Indianapolis, IN
Average monthly rent for each bedroom type based on current active listings in Indianapolis.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $850/mo |
2 Bedrooms | $1,050/mo |
3 Bedrooms | $1,325/mo |
4 Bedrooms | $1,625/mo |
5 Bedrooms | $1,875/mo |
Indianapolis Rental Market Statistics
Key indicators from the current Indianapolis, IN rental market.
2,600
Available now in Indianapolis
29
From list to lease
$0.92
Average across listings
1,277 sq ft
Typical rental size
$600 – $2,600
Min to max active listings
+3.5%
Avg rent vs. prior year
Investing in Indianapolis, IN Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$210,000
Typical purchase price in Indianapolis
Est. Gross Annual Yield
6.7%
Before expenses & vacancy
Avg Monthly Income
$1,180
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Indianapolis for a full cash-flow breakdown including all costs.
Indianapolis, IN Rental Market FAQ
Common questions about renting and investing in Indianapolis, IN.
What is the average rent in Indianapolis, IN?
The average rent in Indianapolis, IN is $1,180 per month as of 2026. One-bedroom apartments average $850/mo, two-bedrooms $1,050/mo, and three-bedroom homes $1,325/mo. Rents vary by area — the Meridian-Kessler, Broad Ripple, and Fishers corridors command premiums over the city average.
Is Indianapolis, IN a good place to invest in rental property?
Indianapolis offers an estimated 6.7% gross annual yield with a broad, 2,600-listing market and strong 3.5% year-over-year rent growth. Major employers including Eli Lilly, Salesforce, and Rolls-Royce provide a diversified, high-quality tenant base. The metro is widely recognized as one of the top mid-size cities for rental property investment.
How competitive is the Indianapolis, IN rental market?
Indianapolis averages 29 days on market across more than 2,600 active listings. The market is active and competitive in desirable corridors like Broad Ripple, Fountain Square, and the near north side, where properties often lease within 2–3 weeks. Outer-ring suburban listings allow more negotiation.
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