Cheap Homes for Rent in Carmel, IN from $1,400 (42 Rentals)

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Carmel

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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property at 11920 Kelso Dr

11920 Kelso Dr

ZionsvilleIN46077
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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 04/09/2025

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$2,850$2,00014

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 $750. Carlton Apartments in the Spring Arbor neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $785. 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$750
Carlton ApartmentsVilla1BR,1BA$785
Turtle CreekStudio 3rdStudio,1BA$817
Reflections ApartmentsExpressionsStudio,1BA$834
Grove on Harcourt1 Bed 1.5 Bath Large Apartment1BR,1BA$908
The Towers at Crooked Creek Senior Housing1BD1BR,1BA$912
The Eclipse1 Bed 1.5 Bath Apartment1BR,1BA$922
College Courts1 Bed/1 Bath Up (A)1BR,1BA$954
Riverbend ApartmentsMadrid1BR,1BA$972
Avia Lofts at Founders RoadStudioStudio,1BA$989

Best Value Apartments for Rent in Carmel, IN

As of April 09, 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 2 Bed/2 Bath-Dn Model at North Willow starting at $1,584 with a $1.17 price per square foot in the Spring Arbor 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
North Willow2 Bed/2 Bath-Dn2BR,2BA$1.17
Governor Square2 bedroom 2 bathroom Renovated2BR,2BA$1.33
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.17
Willow Lake ApartmentsKeystone1BR,1BA$1.37
The Preserve on Allisonville TownhomesTwo Bedroom Townhome2BR,1.5BA$1.33
Grove on Harcourt1 Bed 1.5 Bath Apartment w/Den - Renovated1BR,1.5BA$1.24
Crooked CreekThe Sage2BR,1.5BA$1.38
Lakeshore Reserve Off 86th Apartments and TownhomesTwo Bedroom 2 Bath2BR,2BA$1.38
Scandia ApartmentsTivoli1BR,1BA$1.28

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Frequently Asked Questions about Carmel

What type of rentals are currently available in Carmel?

There are currently 160 Apartments for Rent in Carmel, IN with pricing that ranges from $425 to $6,201. There are also 130 Single Family Homes for rent, Condos, and Townhome rentals currently available in Carmel ranging from $1,400 to $5,500.

What is the current price range for Rental Homes in Carmel?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Carmel ranges from $1,400 to $5,500 with an average monthly rent of $3,099.

How much are larger Three and Four Bedroom Rentals in Carmel?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Carmel range from $1,227 to $5,716, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,850 to $4,600. Four Bedroom Single-Family rentals are also available starting from $1,790 and Four Bedroom Apartments start at $1,850.

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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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.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.