Cheap Apartments for Rent in the Riley Neighborhood of Indianapolis, IN from $400 (92 Rentals)

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

Riley

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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Riley, Indianapolis, IN Local Guide

Cheapest Available Riley Apartments for Rent

 

The cheapest available apartment rental in the Riley 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 Riley 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
Artistry IndyEdie (EcoSuite)Studio,1BA$878
Line LoftsThe Inspiration 60% HOME2BR,1BA$962
Van DykeVan Dyke Studio 463Studio,1BA$970
Circle City ApartmentsVan Dyke Studio 463Studio,1BA$970
Utomin Apartments2 Bedroon2BR,1BA$975

Best Value Apartments for Rent in Riley, IN

As of April 11, 2025 the best value apartment in the Riley 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 Riley 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 Riley 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
707 NorthThe Lockerbie 60%2BR,2BA$1.31
Indy Colonial ApartmentsTwo Bedroom2BR,1BA$1.30
Line LoftsThe Inspiration 60%2BR,1BA$1.42
Lockerbie Flats1 Bedroom1BR,2BA$1.48
RaleighRaleigh 1BTH 8861BR,2BA$1.42
Maxwell ApartmentsDublin1BR,1.5BA$1.38
The Seminole1br1BR,1BA$1.13

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Pet Friendly Lifestyle
Riley, Indianapolis, IN

Ranked #4

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 comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Central Indianapolis, IN. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including searching for the best amenities, and easy access to the parks, pet-friendly features, family-friendliness, proximity to transit, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Riley Apartments

What is the Cheapest Studio apartment in Riley?

Currently the most affordable Cheap Studio Apartment in Riley is at Illinois Street Senior Apartments listed at $462.

How much is rent for a Cheap One Bedroom Riley Apartment?

The lowest price for a Cheap One Bedroom Riley Apartment is $833 at The Seminole.

What is the lowest price for a Cheap Two Bedroom Riley Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Riley is starting from $962 at Line Lofts.

What is the most affordable Riley Three Bedroom Apartment?

The best deal on a cheap Riley Three Bedroom Apartment rental is at The Assembly and starts from $2,150.

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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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.