Cheap New Apartments for Rent in Indianapolis, IN from $300 (66 Rentals)

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Search the lowest-cost Apartments available for rent right now in Indianapolis.

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Edge 35
Rent Specials
from $1,045Built in 2019Studio to 2 Bedroom Apartments Available Now

Edge 35

1224 Prospect StIndianapolis, IN 46203
Transit Friendly
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  • Matterport 3D Tour

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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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Pinnex
Rent Specials
from $1,294Built in 2016Studio to 3 Bedroom Apartments Available Now

Pinnex

931 Fletcher AveIndianapolis, IN 46203
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Parkside At Tarkington
Built in 20221 to 2 Bedroom Apartments

Parkside At Tarkington

3901 N Meridian StIndianapolis, IN 46208
Senior Living
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The Haciendas
Built in 20151 to 3 Bedroom Apartments

The Haciendas

3816 Trilbey DrIndianapolis, IN 46235
  • Utilities Included
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Slate Run Lofts
Built in 2019Studio to 2 Bedroom Apartments

Slate Run Lofts

9555 International DrIndianapolis, IN 46268
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Check Out Indianapolis’s Best Affordable Neighborhoods

Learn about Indianapolis and the best places to live with original content written by our Local Expert Wendy Melton

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The Reserve at White River
Built in 20221 to 2 Bedroom Apartments

The Reserve at White River

2774 Pixel RdIndianapolis, IN 46222
Senior Living
  • Utilities Included
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Line Lofts
Built in 20212 Bedroom Apartments

Line Lofts

1145 E Washington StIndianapolis, IN 46202
Senior Living
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520 E Washington St
Built in 2020Studio to 2 Bedroom Apartments

520 E Washington St

520 E Washington StIndianapolis, IN 46204
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The Retreat On Washington
Built in 20151 to 2 Bedroom Apartments

The Retreat On Washington

2950 Kirkbride WayIndianapolis, IN 46222
Senior Living
  • Utilities Included
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The Meadows
Built in 20231 Bedroom Apartments

The Meadows

4016 Meadows WayIndianapolis, IN 46205
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632 MLK Apartments
Built in 2016Studio to 4 Bedroom Apartments

632 MLK Apartments

632 Dr Martin Luther King Jr StIndianapolis, IN 46202
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The Vue
Built in 2017Studio to 2 Bedroom Apartments

The Vue

718 E Georgia StIndianapolis, IN 46202
Showing Results 1-50, Page 1 of 2

Indianapolis, IN Local Guide

Quick Rent Budget Calculator

How much rent can you afford?

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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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 The Stratford listed at $610.

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

The lowest price for a Cheap One Bedroom Indianapolis Apartment is $650 at Stone Lake.

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 $700 at The Aerie on 11th Street.

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 $662.

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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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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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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.