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from $830Built in 20151 to 2 Bedroom Apartments Available Jun 8
Madison Lofts
1430 Madison AveIndianapolis, IN 46225
Cheap New Apartments for Rent in Indianapolis, IN from $300 (61 Rentals)
Cheap Apartments in Indianapolis.
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from $876Built in 2021Studio to 2 Bedroom Apartments Available Now
Alpine Studios
5818 Flight School DrIndianapolis, IN 46221
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from $900Built in 20221 to 3 Bedroom Apartments Available Now
Proctor Place
240 N Warman AveIndianapolis, IN 46222
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from $999Built in 2018Studio to 2 Bedroom Apartments Available Now
River West Flats
1150 N White River Pkwy West DrIndianapolis, IN 46222
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from $1,000Built in 20251 to 3 Bedroom Apartments Available Now
City Heights
457 Monument View DrIndianapolis, IN 46227
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from $1,045Built in 2019Studio to 2 Bedroom Apartments Available Now
Edge 35
1224 Prospect StIndianapolis, IN 46203
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from $1,090Built in 2017Studio to 2 Bedroom Apartments Available Now
Forte Apartments
1140 Shelby StIndianapolis, IN 46203
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from $1,100Built in 2025Studio to 2 Bedroom Apartments Available Jun 15
Vanguard at 16 Tech
1410 Breedlove LnIndianapolis, IN 46202
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from $1,159Built in 20251 to 3 Bedroom Apartments Contact Us For Availability
Bishop Pond Residences Apartments
6214 Long Channel LnIndianapolis, IN 46268
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from $1,175Built in 20201 to 3 Bedroom Apartments Available Now
The Assembly
1301 E Washington StIndianapolis, IN 46202
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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from $1,189Built in 2017Studio to 2 Bedroom Apartments Available Now
Park 66 Flats
888 E 66th StIndianapolis, IN 46220
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from $1,195Built in 20231 to 2 Bedroom Apartments Available Now
Alder Woods LLC
6806 E County Line RdIndianapolis, IN 46237
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from $1,199Built in 2025Studio to 2 Bedroom Apartments Available Now
Residence on Penn
2801 S Pennsylvania StIndianapolis, IN 46225
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from $1,200Built in 20171 to 3 Bedroom Apartments Available Now
946 MLK
946 Dr Martin Luther King Jr StIndianapolis, IN 46202
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from $1,205Built in 2016Studio to 2 Bedroom Apartments Available May 10
Lockerbie Lofts
640 E Michigan StIndianapolis, IN 46202
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from $1,205Built in 2024Studio to 2 Bedroom Apartments Available Now
Rise on Meridian
915 S Meridian StIndianapolis, IN 46225
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from $1,210Built in 20171 to 2 Bedroom Apartments Contact Us For Availability
2131 North
2131 N Meridian StIndianapolis, IN 46202
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from $1,225Built in 20251 Bedroom Apartments Available Now
Iron Trail Apartments & Townhomes
7595 W US Highway 40Indianapolis, IN 46229
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from $1,228Built in 20151 to 3 Bedroom Apartments Available Now
Southern Dunes
7247 Vista CirIndianapolis, IN 46217
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from $1,175Built in 2020Studio to 2 Bedroom Apartments Available Now
Riverview
460 N White River Pkwy West DrIndianapolis, IN 46222
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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from $1,246Built in 2017Studio to 2 Bedroom Apartments Available Now
Quarry at River North
8901 River Crossing BlvdIndianapolis, IN 46240
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from $1,249Built in 2021Studio to 2 Bedroom Apartments Available Now
Wesmont
1515 Lewis StIndianapolis, IN 46202
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from $1,249Built in 2023Studio to 2 Bedroom Apartments Available Now
Wesley Place
75 W 18th StIndianapolis, IN 46202
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from $1,250Built in 2025Studio to 2 Bedroom Apartments Available Now
The Domino
3200 Dr. Andrew J. Brown AveIndianapolis, IN 46205
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from $1,250Built in 2024Studio to 2 Bedroom Apartments Available Now
The Leo
748 Bates StIndianapolis, IN 46202
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from $1,199Built in 2023Studio to 2 Bedroom Apartments Available Now
Gathyr Apartments
1117 E Market StIndianapolis, IN 46202
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from $1,283Built in 20221 to 3 Bedroom Apartments Available Now
Union at 16th
2152 Emrich LnIndianapolis, IN 46222
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from $1,289Built in 2021Studio to 2 Bedroom Apartments Available Now
AYR Apartments
6160 N Rural StIndianapolis, IN 46220
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from $1,290Built in 2016Studio to 3 Bedroom Apartments Available Now
Pinnex
931 Fletcher AveIndianapolis, IN 46203
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from $1,290Built in 20222 Bedroom Apartments Available Now
Wynbrooke Senior Apartments
10318 E County Road 200 NIndianapolis, IN 46234
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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from $1,299Built in 2020Studio to 2 Bedroom Apartments Available Now
Notch at Nora
8502 Westfield BlvdIndianapolis, IN 46240
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from $1,299Built in 20221 to 2 Bedroom Apartments Available Now
Bluff Crossing Apartments
3506 Bluff RdIndianapolis, IN 46217
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from $1,299Built in 20161 to 2 Bedroom Apartments Available Now
Penn Street Tower Apartments
115 N Pennsylvania StIndianapolis, IN 46204
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Built in 20221 to 2 Bedroom Apartments
Parkside At Tarkington
3901 N Meridian StIndianapolis, IN 46208
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Built in 20181 to 2 Bedroom Apartments
Sunstone at Arlington Woods
5620 E 30th StIndianapolis, IN 46218
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Built in 20171 to 2 Bedroom Apartments
Overlook at the Fairgrounds
1720 E 38th StIndianapolis, IN 46218
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Built in 2019Studio to 2 Bedroom Apartments
Slate Run Lofts
9555 International DrIndianapolis, IN 46268
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Built in 20221 to 2 Bedroom Apartments
The Reserve at White River
2774 Pixel RdIndianapolis, IN 46222
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Built in 2020Studio to 2 Bedroom Apartments
520 E Washington St
520 E Washington StIndianapolis, IN 46204
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Built in 20151 to 2 Bedroom Apartments
The Retreat On Washington
2950 Kirkbride WayIndianapolis, IN 46222
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Built in 2016Studio to 4 Bedroom Apartments
632 MLK Apartments
632 Dr Martin Luther King Jr StIndianapolis, IN 46202
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Built in 2017Studio to 2 Bedroom Apartments
The Congress at Library Square
923 N Meridian StIndianapolis, IN 46204
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Built in 2019Studio Apartments
Morton School Senior Apartments
2101 N College AveIndianapolis, IN 46202
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Built in 20161 Bedroom Apartments
Illinois Street Senior Apartments
1352 N Illinois StIndianapolis, IN 46202
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Built in 20171 Bedroom Apartments
Florence Fay School Senior Apartments
2815 English AveIndianapolis, IN 46201
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from $1,065Built in 20151 to 3 Bedroom Apartments Available Now
LaCabreah Apartments
7130 LaCabreah DrBrownsburg, IN 46112
Indianapolis, IN Local Guide
How much does it cost to rent an apartment in Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Indianapolis Studio Apartments | $1,235 | $585 | $6,201 |
| Indianapolis 1 Bedroom Apartments | $1,409 | $280 | $4,640 |
| Indianapolis 2 Bedroom Apartments | $1,697 | $700 | $9,508 |
| Indianapolis 3 Bedroom Apartments | $1,997 | $1,000 | $7,405 |
| Indianapolis 4 Bedroom Apartments | $2,012 | $700 | $4,140 |
| Indianapolis 5 Bedroom Apartments | $4,428 | $2,295 | $10,000+ |
Explore Indianapolis
Indianapolis, IN Local Guide
- Indianapolis Neighborhoods
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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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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 a cheap apartment in Indianapolis?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Indianapolis is under $725.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is Stone Lake which is listed at $650, while the average apartment in Indianapolis costs $2,569.
What types of apartments are the cheapest in Indianapolis?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 2,385 regular apartments in Indianapolis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Indianapolis?
Cheap apartments in Indianapolis have an average cost of $346 which is $2,223 cheaper than the average rent for all rentals in Indianapolis.
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.
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.
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.
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.
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.