Cheap Apartments for Rent in Carmel, IN from $400 (46 Rentals)

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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

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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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268
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Carlyle Court
1 to 2 Bedroom Apartments

Carlyle Court

951 Carlyle LnIndianapolis, IN 46240
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Turtle Creek
Studio to 2 Bedroom Apartments

Turtle Creek

8253 Harcourt RdIndianapolis, IN 46260
  • Utilities Included
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Crestwood Village North
Studio to 2 Bedroom Apartments

Crestwood Village North

9225 Garrison DrIndianapolis, IN 46240
Senior Living
  • Utilities Included
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Slate Run Lofts
Studio to 2 Bedroom Apartments

Slate Run Lofts

9555 International DrIndianapolis, IN 46268
  • Smoke Free
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Grove on 79th
1 to 3 Bedroom Apartments

Grove on 79th

2000 W 79th StIndianapolis, IN 46260
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The Jameson
1 to 2 Bedroom Apartments

The Jameson

1854 Century WayIndianapolis, IN 46260
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Greystone of Noblesville
1 to 3 Bedroom Apartments

Greystone of Noblesville

7160 Oxfordshire BlvdNoblesville, IN 46062
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Northview
1 Bedroom Apartments

Northview

8607 Cholla RdIndianapolis, IN 46240
Showing Results 1-46, Page 1 of 1

Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 04/21/2025

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$2,089$1,144315

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a 1 Bed unit found at Carlton Apartments in the Spring Arbor neighborhood priced from $785. The Hub at Nora in the Nora neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here is today’s list of the most affordable Carmel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Carlton ApartmentsVilla1BR,1BA$785
The Hub at NoraStudio - 441 Sq FtStudio,1BA$800
Turtle CreekStudio 3rdStudio,1BA$817
The Retreat Northwest1 Bedroom 1 Bathroom 753 Sq. Ft.1BR,1BA$826
Reflections ApartmentsReplicaStudio,1BA$829
Grove on 79th1 Bed 1 Bath Apartment1BR,1BA$834
Grove on Harcourt3 Bed 2 Bath Apartment - Upgraded3BR,2BA$836
The EclipseGalexia with Den1BR,1BA$903
The Towers at Crooked Creek Senior Housing1BD1BR,1BA$912
College Courts1 Bed/1 Bath Up (A)1BR,1BA$954

Best Value Apartments for Rent in Carmel, IN

As of April 21, 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 Roxbury Model at Casey Corner Townhomes starting at $2,445 with a $1.35 price per square foot in the Countryside/Richter`s Corner 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
Casey Corner TownhomesRoxbury3BR,2.5BA$1.35
North Willow2 Bed/2 Bath-Dn2BR,2BA$1.17
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.17
The Retreat Northwest2 Bedroom 1.5 Bathroom 1137 Sq. Ft.2BR,1.5BA$1.22
The Preserve on Allisonville TownhomesTwo Bedroom Townhome2BR,1.5BA$1.20
Grove on Harcourt1 Bed 1.5 Bath Apartment w/Den1BR,1.5BA$1.19
Parkside at Castleton Square Apartments and TownhomesTwo Bedroom 2 Bath2BR,2BA$1.40
The Elliott at College Park Apartment HomesTwo Bedroom 1.5 Bath2BR,1.5BA$1.41
Scandia ApartmentsTivoli1BR,1BA$1.28

Quick Rent Budget Calculator

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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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 $750.

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

The lowest price for a Cheap One Bedroom Carmel Apartment is $661 at The Retreat Northwest.

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 $865 at The Hub at Nora.

What is the most affordable Carmel Three Bedroom Apartment?

The best deal on a cheap Carmel Three Bedroom Apartment rental is at Grove on Harcourt and starts from $836.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.