
Cheap Short Term Lease Apartments for Rent in Indianapolis, IN from $300 (199 Rentals)
Rental terms in Indianapolis as short as a month! Perfect when you can't commit to a full year of renting.
Search the lowest-cost Apartments available for rent right now in Indianapolis.


The Retreat Northwest

Cambridge Commons

Rosewood Commons

The Meridian North and South

The Boardwalk at Westlake Apartments and Townhomes

Cherry Glen

Stonehenge

Cross Creek Apartments

Olivewood
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.

Lakeshore Reserve Off 86th Apartments and Townhomes

Sherbrook

Capital Place

Annhurst

Reflections Apartments

Woodhaven Park

Willow Glen East

Spinnaker Court

Meridian Court South

The Park at Greenhill
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

Priscilla on Pennsylvania

Alpine Studios

SOUTHPORT AT BUCK CREEK

The Hub at Nora

Lake Castleton

Williamsburg North

Pine Glen

Fox Club

Freeman Apartments LLC

Marabou Mills

Meridian Lakes

Ninth Avenue Apartments

Strawbridge Green

Parkhaven Apartments

Aspen Chase

Maryden on Central

Trails at Lakeside

Spanish Oaks

The Life at Northwest Gardens

Timber Point Apartments

The Woods of Eagle Creek

Pebble Point

Beechmill Apartments

Keeneland Crest Apartments

A/62

The Lodge at Trails Edge

Avery Point Apartments

Oakbrook Village
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 | $1,240 | $585 | $6,201 |
Indianapolis 1 Bedroom Apartments | $1,409 | $280 | $4,292 |
Indianapolis 2 Bedroom Apartments | $1,708 | $700 | $9,991 |
Indianapolis 3 Bedroom Apartments | $1,993 | $930 | $6,700 |
Indianapolis 4 Bedroom Apartments | $1,985 | $700 | $4,140 |
Indianapolis 5 Bedroom Apartments | $4,397 | $2,249 | $10,000+ |
Explore Indianapolis

Indianapolis, IN Local Guide
- Indianapolis Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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 $699.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is Kennedy Apartments which is listed at $559, 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 2,269 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 $332 which is $2,237 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.

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.

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.