Cheap Apartments for Rent in Carmel, IN from $400 (66 Rentals)

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Cheap Apartments in Carmel.

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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Carmel - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 05/05/2025

Current apartment rentals in the Carmel, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Carmel Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Carmel$2,860$1,139258

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a Studio unit found at The Hub at Nora in the Nora neighborhood priced from $800. Turtle Creek in the Spring Arbor neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $817. Here is today’s list of the most affordable Carmel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Hub at NoraStudio - 441 Sq FtStudio,1BA$800
Turtle CreekStudio 3rdStudio,1BA$817
Reflections ApartmentsExpressionsStudio,1BA$849
River Road ApartmentsHideaway1BR,1BA$860
The Towers at Crooked Creek Senior Housing1BD1BR,1BA$912
Riverbend ApartmentsAthens1BR,1BA$972
Grove on 79th1 Bed 1 Bath Apartment - Upgraded1BR,1BA$996
Scandia ApartmentsTivoli1BR,1BA$999
Woodbridge Castleton1 Bedroom Apartment1BR,1BA$1,000
College Courts1 Bed/1 Bath Up (A)1BR,1BA$1,034

Best Value Apartments for Rent in Carmel, IN

As of May 05, 2025 the best value apartment in the Carmel area is the $1.32 price per square foot Two Bedroom with Bonus Room (7176B2) Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,899. The second greatest value Carmel apartment is the Three Bedroom TH Model at Woodland Springs Apartment Homes starting at $1,810 with a $1.01 price per square foot in the Spring Mill neighborhood. Here is today’s list of the best values for Carmel apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pinnacle on MeridianTwo Bedroom with Bonus Room (7176B2)2BR,2BA$1.32
Woodland Springs Apartment HomesThree Bedroom TH3BR,2.5BA$1.01
Flats at SwitchMonon2BR,2BA$1.33
North Willow2 Bed/2 Bath-Dn2BR,2BA$1.17
Lakeshore Reserve Off 86th Apartments and TownhomesThree Bedroom 2.5 Bath Townhome3BR,2.5BA$1.31
Ivy Knoll Apartments2Bd/2Ba Up W/D2BR,2BA$1.13
The Elliott at College Park Apartment HomesTwo Bedroom 1.5 Bath2BR,1.5BA$1.36
Grove on Harcourt1 Bed 1.5 Bath Apartment1BR,1.5BA$1.22
Scandia ApartmentsTivoli1BR,1BA$1.28
The Retreat Northwest1 Bedroom 1 Bathroom 753 Sq. Ft.1BR,1BA$1.39

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Carmel, IN

Ranked #2

Among cities in Indiana for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Carmel, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Carmel, IN Rentals by Map

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See the most popular apartments and homes in Carmel, IN

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Getting Around Carmel, IN

Walk Score®

58 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

70 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Carmel Apartments

What is the Cheapest Studio apartment in Carmel?

Currently the most affordable Cheap Studio Apartment in Carmel is at The Hub at Nora listed at $800.

How much is rent for a Cheap One Bedroom Carmel Apartment?

The lowest price for a Cheap One Bedroom Carmel Apartment is $860 at River Road Apartments.

What is the lowest price for a Cheap Two Bedroom Carmel Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Carmel is starting from $1,072 at Turtle Creek.

What is the most affordable Carmel Three Bedroom Apartment?

The best deal on a cheap Carmel Three Bedroom Apartment rental is at The Eclipse and starts from $1,344.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.