Monthly rent

$1,149

Beds

Studio

Baths

Sqft

550

Monthly rent	$1,149
Beds	Studio
Baths	1
Sqft	550

5+ Days Ago

Highlights

Pet Friendly

On-site laundry facility
Pet friendly
Secured parking garage

Location

501 Madison Ave #305, Indianapolis, IN 46225, USA|Downtown Indianapolis

Tour 501 Madison Ave #305

Contact

PMI Midwest

(317) 546-3482

Amenities for 501 Madison Ave #305, Downtown Indianapolis

Apartment Amenities

Air Conditioning

Hardwood Floor

Appliances

Dishwasher

Building

Cats OK	Dogs OK
Onsite Laundry

Grounds

Garage Parking

Services

Concierge Service

Package Service

Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

About 501 Madison Ave #305

Sweet deal!

This listing is 20% below the median price for studio apartments in Downtown Indianapolis.

**Half Off First Full Month's Rent if Moved in by 9/15!! Celebrate the charm of city living at 501 Madison Avenue, Unit 305, where urban elegance meets comfort in the heart of Indianapolis. This inviting studio apartment offers a perfectly designed 500 sq ft space, ideal for those seeking a cozy and efficient living experience. Picture yourself in a vibrant neighborhood, with easy access to the cultural and culinary delights that downtown Indy has to offer. The thoughtfully designed open floor plan maximizes every inch, creating a seamless flow between living, dining, and sleeping areas. Enjoy the modern efficiency of a beautifully arranged full bathroom, providing all the essentials for your daily routine. Large windows invite natural light to dance across your living space, creating a bright and welcoming atmosphere to start and end your day. Whether you're a young professional or a student, this apartment offers the perfect balance of convenience and style. Imagine the ease of city commuting with nearby public transport options, bringing the best of the city right to your doorstep. Unit 305is your gateway to an exciting urban lifestyle, perfectly blending comfort and accessibility. Discover the possibilities that await in this exceptional Indianapolis residence, and make 501 Madison Avenue your new home sweet home. Lofts on Madison offers an on-site laundry facility. There is a secured parking garage with spots available for rent ($125 monthly). This is a pet friendly building allowing for both cats and dogs under 25 pounds (breed restrictions do apply). Residents are responsible for turning electric on in their name. Water, sewer, and trash cost $40.00. All PMI Midwest residents are enrolled in the Resident Benefits Package (RBP) for $36.95/month which includes credit building to help boost the resident's credit score with timely rent payments, HVAC air filter delivery (for applicable properties), move-in concierge service making utility connection and home service setup a breeze during your move-in, our best-in-class resident rewards program, on-demand pest control, and much more! More details upon application. Deposit varies based on screening results. Rent Guarantee policy from theGuarantors required.

Neighborhood

Downtown Indianapolis

Zip code

46225

Type

Apartment for rent

Rent trends in Downtown Indianapolis

studio apartments at 501 Madison Ave #305 cost about 20% less than the average rent price for studio apartments in Downtown Indianapolis.

Median rents as of Sep 13 2025.

Downtown Indianapolis

Indianapolis

A table of studio rental data trends in Indianapolis
Month	Median Rent
September 2023	$1,147
October 2023	$1,162
November 2023	$1,024
December 2023	$972
January 2024	$900
February 2024	$908
March 2024	$1,040
April 2024	$1,074
May 2024	$1,117
June 2024	$1,171
July 2024	$1,091
August 2024	$1,047
September 2024	$1,090
October 2024	$1,131
November 2024	$1,126
December 2024	$1,105
January 2025	$1,194
February 2025	$1,191
March 2025	$1,151
April 2025	$1,121
May 2025	$1,139
June 2025	$1,158
July 2025	$1,185
August 2025	$1,178
September 2025	$1,063

A table of studio rental data trends in Downtown Indianapolis
Month	Median Rent
September 2023	$1,280
October 2023	$1,266
November 2023	$1,253
December 2023	$1,288
January 2024	$1,383
February 2024	$1,354
March 2024	$1,337
April 2024	$1,324
May 2024	$1,309
June 2024	$1,335
July 2024	$1,350
August 2024	$1,361
September 2024	$1,359
October 2024	$1,327
November 2024	$1,338
December 2024	$1,332
January 2025	$1,349
February 2025	$1,352
March 2025	$1,376
April 2025	$1,553
May 2025	$1,707
June 2025	$1,456
July 2025	$1,477
August 2025	$1,450
September 2025	$1,428

Affordability calculator

Can I afford to live at 501 Madison Ave #305?

Bedrooms

Studio

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.

The general rule of thumb is to spend around 30% or less of your income on rent.

Recommended income

$45,960/yr

With your selected rent-to-income ratio, you'd ideally want to make $45,960 annually to afford this studio monthly rent price of $1,149.

For more information on rent affordability, visit our rent calculator.

Getting around Indianapolis near 501 Madison Ave #305

Walking

7/10

Grab your reusable bags–many shops and stores are within walking distance.

Driving

8/10

This area is close to freeways and has adequate parking options.

Cycling

7/10

Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

4/10

Frequent public transit options are within walking distance.

Points of interest for 501 Madison Ave #305, Indianapolis

Groceries

6/10

At least one supermarket within a 20-minute walk

Shopping

6/10

Several shops within a few minutes’ walk

Cafes

6/10

Some cafés within a few minutes’ walk

Restaurants

7/10

Variety of restaurants within a few minutes' walk

Primary schools

8/10

At least one elementary school within a 15-minute walk

High schools

10/10

At least one high school within a 5-minute walk

Parks

6/10

Large amount of park space nearby

Nightlife

7/10

Several bars within a few minutes’ walk

501 Madison Ave #305501 Madison Ave #305, Indianapolis, IN 46225, USA

Highlights

Location

Tour 501 Madison Ave #305

Contact

Amenities for 501 Madison Ave #305, Downtown Indianapolis

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Dog policy

Cat policy

Property details

About 501 Madison Ave #305

Address details

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Schools near 501 Madison Ave #305

Frederick Douglass School 19

Ips - Butler Lab at William Bell 60

Francis Bellamy Pre-School Center

Internet available near 501 Madison Ave #305

Getting around Indianapolis near 501 Madison Ave #305

Walking

Driving

Cycling

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Points of interest for 501 Madison Ave #305, Indianapolis

Groceries

Shopping

Cafes

Restaurants

Primary schools

High schools

Parks

Nightlife

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501 Madison Ave #305
501 Madison Ave #305, Indianapolis, IN 46225, USA