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Rent Tracker
The average asking rent in Indianapolis, IN is $1,514/month as of 2026-03. That is +2.6% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) · zillow.com/research
Current Avg Rent
$1,514/mo
as of 2026-03
Year-over-Year Change
+2.6%
Monthly ZORI index values for Indianapolis, IN.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-03 | $1,514 | +0.60% |
| 2026-02 | $1,505 | +0.07% |
| 2026-01 | $1,504 | +0.20% |
| 2025-12 | $1,501 | -0.27% |
| 2025-11 | $1,505 | +0.13% |
| 2025-10 | $1,503 | -0.13% |
| 2025-09 | $1,505 | -0.07% |
| 2025-08 | $1,506 | -0.20% |
| 2025-07 | $1,509 | +0.47% |
| 2025-06 | $1,502 | +0.54% |
| 2025-05 | $1,494 | +0.81% |
| 2025-04 | $1,482 | +0.47% |
| 2025-03 | $1,475 | +0.61% |
| 2025-02 | $1,466 | +0.48% |
| 2025-01 | $1,459 | +0.62% |
| 2024-12 | $1,450 | +0.14% |
| 2024-11 | $1,448 | -0.14% |
| 2024-10 | $1,450 | -0.41% |
| 2024-09 | $1,456 | +0.21% |
| 2024-08 | $1,453 | +0.35% |
| 2024-07 | $1,448 | +0.84% |
| 2024-06 | $1,436 | +0.56% |
| 2024-05 | $1,428 | +0.63% |
| 2024-04 | $1,419 | — |
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
Data: Zillow Research ZORI · Updated monthly · Price Inflation Report