Cheap Apartments for Rent in the Indy East Neighborhood of Indianapolis, IN from $300 (15 Rentals)

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

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Colonial Park
1 to 2 Bedroom Apartments

Colonial Park

4421 E Washington StIndianapolis, IN 46201
  • Utilities Included

Indy East - 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!

Cheapest Available Indy East Apartments for Rent

 

The cheapest available apartment rental in the Indy East area of Indianapolis, IN is a 1 Bed unit found at Courts Apartments priced from $766. Utomin Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $975. Here are the most affordable Indy East apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Courts Apartments1 Bedroom 1 Bathroom Apartment1BR,1BA$766
Utomin Apartments2 Bedroon2BR,1BA$975
Historic Irvington FlatsBeautiful Renovated Historic Apartment 1 bedroo...1BR,1BA$1,039
College Manor1 BR1BR,1BA$1,050
The LeoThe EliStudio,1BA$1,250

Best Value Apartments for Rent in Indy East, IN

As of April 27, 2025 the best value apartment in the Indy East area is the $1.04 price per square foot 553 N Oakland Ave Model at 553 N Oakland Ave, Unit 553 in the in the Martindale neighborhood starting from $1,300. The second greatest value Indy East apartment is the 1 Bedroom Model at Lockerbie Flats starting at $1,350 with a $1.48 price per square foot in the Martindale neighborhood. Here is today’s list of the best values for Indy East apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
553 N Oakland Ave, Unit 553553 N Oakland Ave2BR,1BA$1.04
Lockerbie Flats1 Bedroom1BR,2BA$1.48
College Manor1 BR1BR,1BA$1.57
Five Twenty VirginiaG1BR,1BA$2.37
Utomin Apartments2 Bedroon2BR,1BA$1.50
Historic Irvington FlatsBeautiful Renovated Historic Apartment 1 bedroo...1BR,1BA$1.60
Courts Apartments1 Bedroom 1 Bathroom Apartment1BR,1BA$1.34
The LeoThe EliStudio ,1BA$2.30

Frequently Asked Questions about Cheap Indy East Apartments

What is the price of a cheap apartment in Indy East?

The cheapest apartment in Indy East is Courts Apartments which is listed at $766, while the average apartment in Indy East costs $1,550.

What types of apartments are the cheapest in Indy East?

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 regular apartments in Indy East that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

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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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords and Tenants article

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.