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Eagle Creek Court
2148 Augusta Dr EIndianapolis, IN 46224
Cheap Apartments for Rent in the Island Village Neighborhood of Indianapolis, IN from $500 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the Island Village area of Indianapolis.
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from $748Studio to 2 Bedroom Apartments Available Now
Mariners Village
7135 Islander DrIndianapolis, IN 46214
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from $7811 to 3 Bedroom Apartments Available May 20
Darby Court
2135 N High School RdIndianapolis, IN 46224
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from $793Studio to 3 Bedroom Apartments Available Now
Meadows Apartments
5505 Scarlet DrIndianapolis, IN 46224
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from $796Studio to 3 Bedroom Apartments Available Now
Scarborough Lake Apartments
6430 Maidstone RdIndianapolis, IN 46254
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from $8451 to 3 Bedroom Apartments Available Now
Woodhaven Park
6363 Commons DrIndianapolis, IN 46254
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from $8501 to 2 Bedroom Apartments Contact Us For Availability
Spinnaker Court
3685 St Thomas BlvdIndianapolis, IN 46214
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from $8711 to 2 Bedroom Apartments Available Now
Wylde at Eagle Creek
6612 Eagle Pointe DrIndianapolis, IN 46254
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Island Village
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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Showing Results 1-17, Page 1 of 1
Island Village, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in Island Village?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Island Village Studio Apartments | $876 | $748 | $1,100 |
| Island Village 1 Bedroom Apartments | $1,162 | $707 | $2,860 |
| Island Village 2 Bedroom Apartments | $1,417 | $968 | $3,296 |
| Island Village 3 Bedroom Apartments | $1,729 | $1,300 | $2,625 |
| Island Village 4 Bedroom Apartments | $1,750 | $1,750 | $1,750 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the Island Village Neighborhood of Indianapolis, IN.
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Island Village, Indianapolis, IN Local Guide
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Cheapest Available Island Village Apartments for Rent
The cheapest available apartment rental in the Island Village area of Indianapolis, IN is a Studio unit found at Mariners Village priced from $748. The Legend at Speedway has the second lowest priced unit, which is a 1 Bed apartment currently listed from $786. Here are the most affordable Island Village apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Mariners Village | Studio | Studio,1BA | $748 |
| The Legend at Speedway | A1 | 1BR,1BA | $786 |
| Scarborough Lake Apartments | The Sand Dollar Studio | Studio,1BA | $796 |
| The Stratford | 1 Bedroom 1 Bathroom | 1BR,1BA | $799 |
| Woodhaven Park | One Bedroom One Bath | 1BR,1BA | $845 |
Best Value Apartments for Rent in Island Village, IN
As of April 07, 2025 the best value apartment in the Island Village area is the $1.31 price per square foot 3 BEDROOM | 2 BATHROOM A Model at The Life at Wood Springs in the in the Timberview neighborhood starting from $1,654. The second greatest value Island Village apartment is the Two Bed Two and a Half Bath Townhome (T2) Model at Sebring Court starting at $1,244 with a $1.01 price per square foot in the Speedway Wellhead neighborhood. Here is today’s list of the best values for Island Village apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Life at Wood Springs | 3 BEDROOM | 2 BATHROOM A | 3BR,2BA | $1.31 |
| Sebring Court | Two Bed Two and a Half Bath Townhome (T2) | 2BR,2.5BA | $1.01 |
| EAGLE CHASE APARTMENTS | Canadian Upgraded | 2BR,2BA | $1.38 |
| Pebble Point | The Escape | 2BR,2BA | $1.21 |
| The Maywood at Speedway | The Adams | 1BR,1BA | $1.20 |
| Deercross Apartments | Dogwood | 1BR,1BA | $1.35 |
| The Stratford | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.11 |
| Woodhaven Park | One Bedroom One Bath | 1BR,1BA | $1.30 |
| Mariners Village | Studio | Studio ,1BA | $1.24 |
| The Legend at Speedway | A1 | 1BR,1BA | $1.38 |
Quick Rent Budget Calculator
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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 LifestyleIsland Village, Indianapolis, IN
Ranked #43
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
Our team is proud to bring you Lifestyle Ratings of neighborhoods, cities and towns, and rental properties across Indiana, including Indianapolis. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, transit availability, pet-friendly communities, multifamily communities for the kids, and more. Find Lifestyle Search in the filter options (above). Happy Searching!
Frequently Asked Questions about Cheap Island Village Apartments
What is a cheap apartment in Island Village?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Island Village is under $975.
What is the price of a cheap apartment in Island Village?
The cheapest apartment in Island Village is The Legend at Speedway which is listed at $786, while the average apartment in Island Village costs $1,750.
What types of apartments are the cheapest in Island Village?
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 14 regular apartments in Island Village 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 Island Village?
Cheap apartments in Island Village have an average cost of $950 which is $800 cheaper than the average rent for all rentals in Island Village.
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.
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.
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.