
Cheap Apartments for Rent in Indianapolis, IN from $300 with Washer/Dryer (402 Rentals)
Search the lowest-cost Apartments available for rent right now in Indianapolis.


3321 Eastwind Ct

8109 Johnstown Ct

701 W Hanna Ave

6115 Redcoach Ln

1043 N Holmes Ave

8149 Trevellian Way

1252 Goldenrod Dr

8027 N Richardt Ave

5329 Hedgerow Dr
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

281 N Warman Ave

3712 Oil Creek Dr

1635 Cruft St

1748 N Bancroft St

Dunbar Court

Indy Town Apartments

Eagle Creek Court

Cambridge Commons

The Boardwalk at Westlake Apartments and Townhomes

Westbury Court

Cedars Apartments

Rosewood Commons

Sherbrook

Autumn Trails Apartments

Ashgrove Apartments

Apartments @ Marten Court

Annhurst

The Pines at SoBro

5700 Madison Apartments & Edgewood on Madison

Serenity Park Apartments

Garden Pointe Apartments

Carlton Apartments

The Meridian North and South

Meadows Apartments

Scarborough Lake Apartments

Cherry Glen

Greentree Apartments

Cross Creek Apartments

Pickwick Farms Apartments

Emerson Village

Reflections Apartments

Lenox Apartments

Broad Ripple Trails

Meridian Court South

Carriage House East

Spinnaker Court

River Road Apartments

Willow Glen East
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 | $1,257 | $585 | $6,201 |
Indianapolis 1 Bedroom Apartments | $1,424 | $285 | $3,646 |
Indianapolis 2 Bedroom Apartments | $1,721 | $750 | $7,871 |
Indianapolis 3 Bedroom Apartments | $2,019 | $899 | $8,137 |
Indianapolis 4 Bedroom Apartments | $1,988 | $699 | $4,350 |
Indianapolis 5 Bedroom Apartments | $7,653 | $2,350 | $10,000+ |
Explore Indianapolis
Indianapolis, IN Local Guide
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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 $700.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is East Village at Avondale Meadows Apartments which is listed at $635, while the average apartment in Indianapolis costs $2,636.
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 2,190 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 $429 which is $2,207 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.