
Cheap Apartments for Rent with Specials in Indianapolis, IN from $300 (149 Rentals)
Apartments in Indianapolis with special offers and discounts available right now - opportunities to save money or get a month or more of free rent.
Search the lowest-cost Apartments available for rent right now in Indianapolis.


Country Club Apartments

Glenstone Studios

Cambridge Commons

Maple Court

The Boardwalk at Westlake Apartments and Townhomes

Rosewood Commons

Garden Pointe Apartments

Mariners Village

Annhurst
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

Harrison Point Apartments

Serenity Park Apartments

One Somerset Apartments

Abbey Apartments - Affordable Senior Housing

1733 N. Meridian

Bavarian Village Apartments

Serenity Manor 55+ Independent Senior Living

The Hub at Nora

Maple Creek Village

Capital Place

Cherry Glen

The Seminole

Reflections Apartments

Woodhaven Park

Sawmill Apartments

River Road Apartments

Spinnaker Court

The Park at Greenhill

The Abby

Kingston Square Apartments

Brockton Apartments & Townhomes

Pine Glen

Willowood East

SOUTHPORT AT BUCK CREEK

Chateau De Ville

Alpine Studios

Woods at Oak Crossing

Williamsburg North

Meridian Court South

Circle City Apartments

The Towers at Crooked Creek Senior Housing

Parc Bordeaux Apartments

Wildwood Village Apartments

Fountainview Apartments

Sherman Village

Ninth Avenue Apartments

Lake Castleton

Parkhaven Apartments

Aspen Chase

The Sycamores
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 | $1,276 | $585 | $6,600 |
Indianapolis 1 Bedroom Apartments | $1,434 | $307 | $4,900 |
Indianapolis 2 Bedroom Apartments | $1,736 | $699 | $7,707 |
Indianapolis 3 Bedroom Apartments | $2,065 | $899 | $8,137 |
Indianapolis 4 Bedroom Apartments | $1,608 | $699 | $2,796 |
Indianapolis 5 Bedroom Apartments | $1,830 | $1,830 | $1,830 |
Explore Indianapolis
Indianapolis, IN Local Guide
- Indianapolis Neighborhoods
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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.
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 $425.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is 1531 N Downey Ave which is listed at $285, while the average apartment in Indianapolis costs $1,918.
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 33,376 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 $446 which is $1,472 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.

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.

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.

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.