Indiana's capital is known for hosting the Indy 500, and it's also a city with plenty of culture, including many monuments and memorials – in fact, only Washington, D.C., has more. Here are some excellent tips for your hunt for apartments in Indianapolis:

The scoop
If you're moving to Indianapolis, you've hit the jackpot regarding rental prices, cost of living and tax rates – Indiana has some of the lowest among major U.S. metropolitan areas. Additionally, the vacancy rate is the third highest in the nation at around 6 percent, and the average price of an apartment across all rental types is around $700 per month. For a one-bedroom, you can expect to pay an average of $590 per month, and a two-bedroom costs an average of $700 per month – These are stunningly inexpensive prices for a city with more than 800,000 people.

A car is necessary to live in Indianapolis, and traffic moves pretty quickly here. Even if you choose to live on the city's edges but you work downtown, you'll likely have no trouble getting to work.

The neighborhoods
Indianapolis is divided into six cultural districts that contain historic homes, as well as many other diverse neighborhoods. Here are some of the best for young professionals:

  • Downtown: Downtown Indianapolis is the business district, and it's a cosmopolitan area that provides everything you'd expect in a big city, but with plenty of natural beauty, too.
  • Fletcher Place/Wholesale District/Fountain Square: These historic neighborhoods offer a mix of residential homes and high-rises, as well as cafes, art galleries and music venues.
  • Bates-Hendricks: For a dose of outdoor fun, move to Bates-Hendricks, a few miles south of the city center, for access to great parks and biking trails.
  • Broad Ripple Village: The motto here is "We're open if you are." Broad Ripple Village is one of the designated cultural districts – it's socially, economically and ethnically diverse and includes art galleries, specialty shops and boutiques. Broad Ripple is located six miles north of downtown.

Insider tips
Like the rest of the Midwest, Indianapolis has a humid continental climate, meaning there's great variability in the temperatures here. The cost of living is a stunning 9.4 percent below the U.S. average, which isn't typical for a city of its size. Additionally, be prepared for a lot of watch changes – Indianapolis is in the Eastern time zone, but the south- and northwestern corners of the state are, oddly, part of the central time zone.