
Cheap Apartments for Rent in the Near North Indianapolis Neighborhood of Indianapolis, IN from $500 (74 Rentals)
Search the lowest-cost Apartments available for rent right now in the Near North Indianapolis area of Indianapolis.


Dunbar Court

INDY FLATS

St. Agnes Apartments

146 E 19th St

Priscilla on Pennsylvania
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Circle City Apartments

Senate Manor

Christian Place Apartments

Lockefield Gardens

1010 Central

College Manor

306 E 19th St
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Apollo & Aurora Apartments

800 Capitol

Drake Street Garden Homes

Riley Towers

Wesley Place

Ralston Apartments

9 On Canal

632MLK

2131 North
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Gardens of Canal Court

Wyndham on Delaware

1801 N Broadway St

Circa Apartments

The Stella

The Grounds

The Delaware Apartments

Northside Flats Apartments
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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.
Near North Indianapolis, Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Near North Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Near North Indianapolis Studio Apartments | $1,253 | $595 | $5,088 |
| Near North Indianapolis 1 Bedroom Apartments | $1,380 | $750 | $4,431 |
| Near North Indianapolis 2 Bedroom Apartments | $1,761 | $824 | $3,629 |
| Near North Indianapolis 3 Bedroom Apartments | $2,838 | $1,800 | $6,118 |
| Near North Indianapolis 4 Bedroom Apartments | $1,288 | $949 | $3,496 |
Browse Apartments in this Neighborhood
There are currently 74 rentals with your search options within a 1 mile radius of the Near North Indianapolis Neighborhood of Indianapolis, IN.
See all Apartments in IndianapolisExplore Indianapolis
Near North Indianapolis, Indianapolis, IN Local Guide
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Cheapest Available Near North Indianapolis Apartments for Rent
 The cheapest available apartment rental in the Near North Indianapolis area of Indianapolis, IN is a Studio unit found at The Sheldrake Apartments priced from $700. INDY FLATS has the second lowest priced unit, which is a Studio apartment currently listed from $705. Here are the most affordable Near North Indianapolis apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Sheldrake Apartments | Studio Hybrid | Studio,1BA | $700 |
| INDY FLATS | Sherwood Std D | Studio,1BA | $705 |
| St. Agnes Apartments | 5th Floor Studio Large | Studio,1BA | $785 |
| Canal Gardens | 2.1 40% | 2BR,1BA | $891 |
| Priscilla on Pennsylvania | Studio- 1st Floor Corner | Studio,1BA | $899 |
| Senate Manor | S.1 C | Studio,1BA | $930 |
| Christian Place Apartments | 7 | 1BR,1BA | $950 |
| 1010 Central | Loft 50% | 1BR,1BA | $956 |
| Traymore Apartments | One Bedroom | 1BR,1BA | $960 |
| St. James | One Bedroom - Sublevel | 1BR,1BA | $980 |
Best Value Apartments for Rent in Near North Indianapolis, IN
As of December 23, 2025 the best value apartment in the Near North Indianapolis area is the $1.19 price per square foot B1 Model at 946 MLK in the in the Near North Indianapolis neighborhood starting from $1,800. The second greatest value Near North Indianapolis apartment is the F Model at Townhomes at Fall Creek Place starting at $1,626 with a $1.61 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for Near North Indianapolis apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 946 MLK | B1 | 3BR,2BA | $1.19 |
| Townhomes at Fall Creek Place | F | 2BR,1BA | $1.61 |
| Gardens of Canal Court | One Bedroom One Bath (992 Square Feet) | 1BR,1BA | $1.37 |
| Canal Gardens | 2.1 40% | 2BR,1BA | $0.93 |
| Pavillion | Two Bedrooms, One Bathroom | 2BR,1BA | $1.41 |
| Van Dyke | Van Dyke 1B 830 | 1BR,1BA | $1.55 |
| The Washington | 2 Bedroom | 2BR,1BA | $1.47 |
| College Manor | 1 BR | 1BR,1BA | $1.48 |
| Traymore Apartments | One Bedroom | 1BR,1BA | $1.60 |
| The Sheldrake Apartments | Studio Hybrid | Studio ,1BA | $1.54 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleYour Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com
Read ArticleQuick 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 LifestyleNear North Indianapolis, Indianapolis, IN
Ranked #16
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
Our team works hard to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Near North Indianapolis, Indianapolis, and the greater Indianapolis area. 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 convenient access to the outdoors, luxury housing options, places that make kids happy, raising pets, transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Near North Indianapolis Apartments
What is a cheap apartment in Near North Indianapolis?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Near North Indianapolis is under $980.
What is the price of a cheap apartment in Near North Indianapolis?
The cheapest apartment in Near North Indianapolis is INDY FLATS which is listed at $880, while the average apartment in Near North Indianapolis costs $2,700.
What types of apartments are the cheapest in Near North 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 99 regular apartments in Near North 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 Near North Indianapolis?
Cheap apartments in Near North Indianapolis have an average cost of $392 which is $2,308 cheaper than the average rent for all rentals in Near North Indianapolis.
Expert Rental Resources
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.
Articles, How-To's, and Tips

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 with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!



















