Cheap Apartments for Rent in the Canal Walk Neighborhood of Indianapolis, IN from $400 (54 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Canal Walk area of Indianapolis.

Canal Walk

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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1010 Central
1 to 2 Bedroom Apartments

1010 Central

1010 Central AveIndianapolis, IN 46202
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Barbee
1 Bedroom Apartments

Barbee

1215 N Pennsylvania StIndianapolis, IN 46202
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Windsor
Studio to 1 Bedroom Apartments

Windsor

1235 N Delaware StIndianapolis, IN 46202
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Victoria Apartments
Studio Apartments

Victoria Apartments

1244 N Illinois StIndianapolis, IN 46202
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The Harrison
Studio to 1 Bedroom Apartments

The Harrison

1320 N Delaware StIndianapolis, IN 46202
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Canal Gardens
1 Bedroom Apartments

Canal Gardens

1249 Dr Martin Luther King Jr StIndianapolis, IN 46202
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Capitol Manor
1 Bedroom Apartments

Capitol Manor

842 N Capitol AveIndianapolis, IN 46204
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Madison Apartments
1 to 2 Bedroom Apartments

Madison Apartments

226 E 12th StIndianapolis, IN 46202
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Mayleeno
1 Bedroom Apartments

Mayleeno

416 E Vermont PlIndianapolis, IN 46202
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Campus Townhomes
2 Bedroom Apartments

Campus Townhomes

531 Ransom StIndianapolis, IN 46202
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Stonegate Apartments
Studio to 3 Bedroom Apartments

Stonegate Apartments

1220-1226 N Illinois StIndianapolis, IN 46202
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Chelsea Manor
1 to 2 Bedroom Apartments

Chelsea Manor

1451 Central AveIndianapolis, IN 46202
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Van Dyke
Studio to 2 Bedroom Apartments

Van Dyke

1229 N Pennsylvania StIndianapolis, IN 46202
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800 Capitol
1 to 2 Bedroom Apartments

800 Capitol

800 N Capitol AveIndianapolis, IN 46204
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520 E Washington St
Studio to 2 Bedroom Apartments

520 E Washington St

520 E Washington StIndianapolis, IN 46204
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Raleigh
1 to 2 Bedroom Apartments

Raleigh

108 E 13th StIndianapolis, IN 46202
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550 Fletcher Ave
2 Bedroom Apartments

550 Fletcher Ave

550 Fletcher AveIndianapolis, IN 46203
Showing Results 1-50, Page 1 of 2

Canal Walk, Indianapolis, IN Local Guide

Cheapest Available Canal Walk Apartments for Rent

 

The cheapest available apartment rental in the Canal Walk area of Indianapolis, IN is a Studio unit found at Illinois Street Senior Apartments priced from $462. St. Agnes Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $740. Here are the most affordable Canal Walk apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Illinois Street Senior ApartmentsStudio 3 30%Studio,1BA$462
St. Agnes Apartments*Studio- LoftStudio,1BA$740
The Seminole1br1BR,1BA$833
Devonshire Apartments in Downtown Indianapolis1BR/1.0BA1BR,1BA$840
Priscilla on PennsylvaniaStudioStudio,1BA$875
Circle City ApartmentsWinterhouse Studio 389Studio,1BA$910
Van DykeVan Dyke Studio 463Studio,1BA$970
Artistry IndyEdie (EcoSuite)Studio,1BA$978
Lockefield GardensStandard One Bedroom (S1) 1BR,1BA$991
Senate Manor1.1 Ap1BR,1BA$1,005

Best Value Apartments for Rent in Canal Walk, IN

As of April 14, 2025 the best value apartment in the Canal Walk area is the $1.24 price per square foot 3 Bedroom 2 Bath Model at The Block in the in the Riley neighborhood starting from $2,199. The second greatest value Canal Walk apartment is the Two Bedroom Two Bath (1,184 - 1,194 Square Feet) Model at Gardens of Canal Court starting at $1,543 with a $1.29 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for Canal Walk apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Block3 Bedroom 2 Bath3BR,2BA$1.24
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.29
Penn Street Tower ApartmentsSenate: Floors 10-122BR,1BA$1.37
Indy Colonial ApartmentsTwo Bedroom2BR,1BA$1.30
RaleighRaleigh 1BTH 8861BR,2BA$1.42
The E'LaanThe Vonnegut II1BR,1BA$1.63
Indiana Flats and Townhomes2 x 12BR,1BA$1.49
The Seminole1br1BR,1BA$1.13
1010 CentralGarage 60%1BR,1BA$1.58
Illinois Street Senior ApartmentsStudio 1 40%Studio ,1BA$1.59

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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Pet Friendly Lifestyle
Canal Walk, Indianapolis, IN

Ranked #8

Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in metropolitan areas across the United States, including Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, apartment communities for the kids, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Canal Walk Apartments

What is a cheap apartment in Canal Walk?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Canal Walk is under $1,005.

What is the price of a cheap apartment in Canal Walk?

The cheapest apartment in Canal Walk is The Seminole which is listed at $833, while the average apartment in Canal Walk costs $2,300.

What types of apartments are the cheapest in Canal Walk?

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 26 regular apartments in Canal Walk 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 Canal Walk?

Cheap apartments in Canal Walk have an average cost of $791 which is $1,509 cheaper than the average rent for all rentals in Canal Walk.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

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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.

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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.