
Cheap Apartments for Rent in the Devonshire Neighborhood of Indianapolis, IN from $300 (9 Rentals)
Search the lowest-cost Apartments available for rent right now in the Devonshire area of Indianapolis.


Lake Castleton
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Veridian Castleton

A/62
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.

The Residences on 56th Street

TGM Avalon Lake
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Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Chateau in the Woods

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

TGM Shadeland Station
Devonshire, Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Devonshire?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Devonshire Studio Apartments | $1,022 | $947 | $1,065 |
Devonshire 1 Bedroom Apartments | $1,268 | $350 | $2,285 |
Devonshire 2 Bedroom Apartments | $1,511 | $1,149 | $3,036 |
Devonshire 3 Bedroom Apartments | $1,847 | $1,469 | $2,963 |
Browse Apartments in this Neighborhood
There are currently 9 rentals with your search options within a 2 mile radius of the Devonshire Neighborhood of Indianapolis, IN.
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Devonshire, Indianapolis, IN Local Guide
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Cheapest Available Devonshire Apartments for Rent
 The cheapest available apartment rental in the Devonshire area of Indianapolis, IN is a 1 Bed unit found at Lake Castleton priced from $896. A/62 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $975. Here are the most affordable Devonshire apartments for rent in Indianapolis, IN:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Lake Castleton | Congressional | 1BR,1BA | $896 |
A/62 | LePetit | 1BR,1BA | $975 |
The Residences on 56th Street | Brendonwood | 1BR,1BA | $1,019 |
Best Value Apartments for Rent in Devonshire, IN
As of May 13, 2025 the best value apartment in the Devonshire area is the $1.13 price per square foot B4 - Townhome Model at Veridian Castleton in the in the Allisonville neighborhood starting from $1,403. The second greatest value Devonshire apartment is the 2Bd/2Ba Dn W/D Model at Ivy Knoll Apartments starting at $1,399 with a $1.17 price per square foot in the Roxbury neighborhood. Here is today’s list of the best values for Devonshire apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Veridian Castleton | B4 - Townhome | 2BR,1.5BA | $1.13 |
Ivy Knoll Apartments | 2Bd/2Ba Dn W/D | 2BR,2BA | $1.17 |
Castleton Manor Apartments | The Banyan | 1BR,1.5BA | $1.33 |
Fountain Parc | The Wealth | 1BR,1BA | $1.65 |
TGM Autumn Woods | A2 | 1BR,1BA | $1.48 |
Bayview Club Apartments | Lake Maxinkuckee | 1BR,1BA | $1.76 |
Chateau in the Woods | 1 Bd/1 Ba Sm ABY | 1BR,1BA | $1.47 |
The Residences on 56th Street | Brookhaven | 1BR,1BA | $1.52 |
TGM Shadeland Station | A1 | 1BR,1BA | $1.53 |
A/62 | LePetit Luxe | 1BR,1BA | $1.70 |
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.
Pet Friendly LifestyleDevonshire, Indianapolis, IN
Ranked #145
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Getting Around the Devonshire Neighborhood in Indianapolis, IN
Walk Score®
49 / 100
Car-Dependent
Most errands require a car
Bike Score®
46 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
15 / 100
Minimal Transit
It may be possible to get on a bus
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 Devonshire Apartments
How much is rent for a Cheap One Bedroom Devonshire Apartment?
The lowest price for a Cheap One Bedroom Devonshire Apartment is $896 at Lake Castleton.
What is the lowest price for a Cheap Two Bedroom Devonshire Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Devonshire is starting from $1,079 at Veridian Castleton.
What is the most affordable Devonshire Three Bedroom Apartment?
The best deal on a cheap Devonshire Three Bedroom Apartment rental is at The Residences on 56th Street and starts from $1,469.
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 Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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.