Starting at $1,099 Per Month
- 1 - 3 Beds
6800 Brendon Way Dr W, Indianapolis, IN 46226
-(RLNE7091917)
The Residences on 56th
(463) 223-2697
Frequently Asked Questions
How much does it cost to rent a home in Indianapolis, IN?
The median rent for a home in Indianapolis, IN is $1,690 per month, though prices vary by neighborhood, size, and property type. As of May 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Indianapolis, IN?
To comfortably afford the median rent in Indianapolis, IN, a household needs to earn roughly $67,600 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,690 per month in Indianapolis, IN, renters typically need to show $5,070 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Indianapolis, IN?
In Indianapolis, IN, the price-to-rent ratio is 12.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Indianapolis, IN are best for renting a home?
The best neighborhood for renting in Indianapolis, IN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Near Eastside, Lockerbie Square, Holy Cross, Chatham Arch and Old Northside, each with its own character and price range.
