Cheap Apartments for Rent in Indianapolis, IN from $300(669 Rentals)

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7818 Knue Rd
$3071 Bedroom, 1 Bath Home for RentAvailable Now

7818 Knue Rd

Indianapolis, IN 46250
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5332 E Washington St
$625Studio, 1 Bath Home for RentAvailable Now

5332 E Washington St

Indianapolis, IN 46219
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3763 Baltimore Ave
$7001 Bedroom, 1 Bath Home for RentAvailable Now

3763 Baltimore Ave

Indianapolis, IN 46218
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1530-1532 N Sherman Dr
$7001 Bedroom, 1 Bath Home for RentAvailable Now

1530-1532 N Sherman Dr

Indianapolis, IN 46201
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Showing Results 1-50, Page 1 of 14

Indianapolis, IN Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Indianapolis, IN

Pricing Updated: 12/22/2024

Current apartment rentals in the Indianapolis, IN area range in price from $307 to $7,916 with an overall median price of $1,921. The three Indianapolis neighborhoods with the lowest median rent pricing are Grace Tuxedo Park at $386, Emerson Heights at $386, and Carson Heights at $474. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Indianapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Grace Tuxedo Park$894$38637
Emerson Heights$904$38636
Carson Heights$1,297$474126
University Heights$1,297$474127
Mars Hill$1,299$61566
Edgewood$1,301$394169
Airport$1,312$61563
Thompson-Edgewood$1,319$425148
Hawthorne$1,337$4256
North Perry$1,358$42583

Cheapest Available Indianapolis Apartments for Rent

 

The cheapest available apartment rental in Indianapolis, IN is a 1 Bed unit found at Canal Gardens in the Near North Indianapolis neighborhood priced from $494. Hopeside I in the Martindale neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $565. Here is today’s list of the most affordable Indianapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Canal Gardens1.1 - 30%1BR,1BA$494
Hopeside I2.2-40%2BR,2BA$565
Prairies Apartments1 Bedroom Apartment1BR,1BA$698
Pinnacle WestStudioStudio,1BA$699
Autumn Trails ApartmentsThe MapleStudio,1BA$699
Oxmoor Indy1BR/1.0BA1BR,1BA$699
Stone Lake1X11BR,1BA$700
Ashgrove ApartmentsStudioStudio,1BA$705
Franklin StudiosStudioStudio,1BA$725
Cambridge CommonsStudioStudio,1BA$725

Best Value Apartments for Rent in Indianapolis, IN

As of December 22, 2024 the best value apartment in the Indianapolis area is the $0.94 price per square foot The Kenai Model at Chapel Hill Apartments in the in the West Wayne neighborhood starting from $1,365. The second greatest value Indianapolis apartment is the 3 Bedroom 1.5 Bath Apartment Model at Meadows Apartments starting at $1,242 with a $0.98 price per square foot in the Cheswick Place neighborhood. Here is today’s list of the best values for Indianapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Chapel Hill ApartmentsThe Kenai2BR,1.5BA$0.94
Meadows Apartments3 Bedroom 1.5 Bath Apartment3BR,1.5BA$0.98
205 - MERIDIAN PLAZA APARTMENTS2B2BR,1BA$0.88
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$0.86
Hopeside I2.2-50%2BR,2BA$0.81
Vistas Apartments2 Bedroom 1.5 Bath Townhouse2BR,1.5BA$0.98
Brickyard FlatsA31BR,1BA$0.98
Courts Apartments2 Bedroom 1 Bathroom Apartment2BR,1BA$0.96
Canal Gardens1.1 - 30%1BR,1BA$0.67
Oxmoor Indy1BR/1.0BA1BR,1BA$1.00

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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Indianapolis Overview

Indiana’s capital, Indianapolis, is the state’s largest city and it ranks 13th in the country for size. It sits near the convergence of the White River and Fall Creek. Recently, Forbes ranked Indianapolis as having one of the best downtowns in the country because of its appealing appearance as well as amenities like movie theaters, museums, art galleries, parks, retail shops and entertainment. Indianapolis has experienced moderate growth in the last few years, and currently has a population of nearly 840,000 residents.

Why live in Indianapolis, IN?

In Indianapolis, if you are a sports fan, you are in luck. The city boasts many sports-related venues and activities. There is a lot to do if you love history, art, and the outdoors as well (in the warmer months, of course!). Here are some of the highlights the city has to offer:

Indianapolis, IN
Population: 867,125

Ranked #17

in US Census Population by City

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Pet Friendly Lifestyle
Indianapolis, IN

Ranked #1

Among cities in Indiana for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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

Explore Indianapolis, IN Rentals by Map

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See the most popular apartments and homes in Indianapolis, IN

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Getting Around Indianapolis, IN

Walk Score®

50 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

53 / 100

Bikeable

Some bike infrastructure

Transit Score®

29 / 100

Some Transit

A few nearby public transportation options

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 Indianapolis Apartments

What is the Cheapest Studio apartment in Indianapolis?

Currently the most affordable Cheap Studio Apartment in Indianapolis is at Autumn Trails Apartments listed at $699.

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

The lowest price for a Cheap One Bedroom Indianapolis Apartment is $494 at Canal Gardens.

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

Today's best deal for a Cheap Two Bedroom Apartment in Indianapolis is starting from $565 at Hopeside I.

What is the most affordable Indianapolis Three Bedroom Apartment?

The best deal on a cheap Indianapolis Three Bedroom Apartment rental is at East Village at Avondale Meadows Apartments and starts from $866.

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.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Navigating the World of Low-Income Housing: A Comprehensive Guide

Written by: Kevin Ready

Are you having difficulty keeping up with bills or paying the rent? If so, you are not alone. Many families struggle to keep up with rents that have increased up to 40% in the past decade.

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Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.

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Real Estate Term Glossary: Your Guide to The A to Zs of Renting

Written by: Kevin Ready

Navigating the world of real estate can reveal an abundance of terminology and phrasing around the topics of renting and buying that for some may seem like a brand-new language.