Most Affordable Neighborhoods in Indianapolis, IN
Some of the cheapest neighborhoods in Indianapolis are Eagle Creek, Southeast Indianapolis, and St Vincent Greenbriar. These neighborhoods offer some of the lowest rent prices in Indianapolis, making them ideal for renters on a budget. As of February 10, 2025, the average rent in Indianapolis is $1,101, which is 1.9% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Eagle Creek
Average Rent
$1,147/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
30/100
Units Available
196 Rentals
Eagle Creek neighborhood is perfect for outdoor lovers, with its namesake park offering kayaking, hiking, and birdwatching near the Eagle Creek Reservoir. Interstate 74 provides easy access to downtown Indianapolis, making this area ideal for renters who seek nature without sacrificing convenience.
Southeast Indianapolis
Average Rent
$1,179/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
18/100
Units Available
136 Rentals
Southeast Indianapolis is well-connected to major highways like Interstate 65, offering renters quick access to downtown and the artsy Fountain Square District. This neighborhood also features several parks, giving residents ample space for outdoor recreation and relaxation.
St Vincent Greenbriar
Average Rent
$1,187/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
28/100
Units Available
123 Rentals
If you’re looking for a great, affordable neighborhood in Indianapolis, St Vincent Greenbriar might be the perfect place! It has an average rent price of $1,187, while the city’s average stands at $1,101. In the last year, prices have increased by 2.5%. St Vincent Greenbriar is near Daubenspeck Community Nature Park, Town Run Trail Park, and Purdue Indianapolis.
Near Northside
Average Rent
$1,205/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
53/100
Units Available
192 Rentals
With a unique mix of historic architecture and new developments, Near Northside stands out among Indianapolis residential areas. Renters can enjoy nearby cultural institutions like the Children’s Museum of Indianapolis and the Indianapolis Museum of Art. This area is also conveniently connected to major highways for easy commuting.
Chapel Hill Ben Davis
Average Rent
$1,212/Month
Year-Over-Year Rent Change
3.4%
TransitScore® Rating
28/100
Units Available
128 Rentals
Chapel Hill Ben Davis is near Eagle Creek Park, one of the largest urban parks in the United States, which offers hiking, boating, and nature trails. In addition to nature, this neighborhood offers urban conveniences. Renters can easily commute via Interstate 465 to explore Indianapolis and everything it has to offer.
South Perry
Average Rent
$1,214/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
26/100
Units Available
126 Rentals
South Perry offers a suburban atmosphere while also providing proximity to urban conveniences along Southport Road. Renters enjoy easy access to Perry Park, which has sports fields and a community pool. Proximity to nearby highways allows for a quick commute to downtown Indianapolis.
Augusta
Average Rent
$1,250/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
24/100
Units Available
124 Rentals
Augusta is a top choice for budget-conscious renters for a variety of reasons. The average rent in Augusta is $1,250 while the city average is $1,101. This is a 1% difference from last year. Residents enjoy convenient access to Northwestway Park, Butler University, and Town Run Trail Park. The neighborhood is considered car-dependent with a WalkScore® of 39.
Castleton
Average Rent
$1,290/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
25/100
Units Available
236 Rentals
Castleton boasts a wide variety of retail options, including Castleton Square Mall, the largest shopping center in the state. Renters can take advantage of easy access to Interstate 465, offering convenient travel throughout Indianapolis. Outdoor enthusiasts will appreciate Sahm Park, with its golf course, trails, and community pool.
Keystone
Average Rent
$1,370/Month
Year-Over-Year Rent Change
0.5%
TransitScore® Rating
20/100
Units Available
159 Rentals
Keystone features convenient access to the upscale Fashion Mall at Keystone, offering a variety of shopping and dining experiences. The neighborhood’s proximity to the White River provides opportunities for scenic walks and outdoor activities. Its location near major roads like Keystone Avenue ensures a smooth commute.
Nora Far Northside
Average Rent
$1,383/Month
Year-Over-Year Rent Change
2%
TransitScore® Rating
20/100
Units Available
228 Rentals
Nora Far Northside is known for the Nora Plaza Shopping Center and easy access to the Monon Trail, which is ideal for walking and biking. Renters will appreciate nearby Jordan YMCA, offering year-round fitness and recreational activities. This neighborhood's combination of retail options and green spaces adds to its appeal.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.