Cheap Homes for Rent in Riley Neighborhood of Indianapolis, IN from $700 (11 Rentals)

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

property at 312 E 13th St

312 E 13th St

IndianapolisIN46202
property at 1335 Central Ave

1335 Central Ave

IndianapolisIN46202

Riley, Indianapolis, IN Local Guide

Cheapest Neighborhoods for Apartments in Riley, IN

Pricing Updated: 03/20/2025

Current apartment rentals in the Riley, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Riley Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units

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
Priscilla on PennsylvaniaStudioStudio,1BA$875
Line LoftsThe Inspiration 60% HOME2BR,1BA$962

Best Value Apartments for Rent in Riley, IN

As of March 21, 2025 the best value apartment in the Riley area is the $1.14 price per square foot 352 N Arsenal Ave Model at 352 N Arsenal Ave in the in the Riley neighborhood starting from $2,050. The second greatest value Riley apartment is the 1 Bedroom 1 Bath Model at The Block starting at $1,539 with a $1.06 price per square foot in the Riley 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.
352 N Arsenal Ave352 N Arsenal Ave3BR,1.5BA$1.14
The Block1 Bedroom 1 Bath1BR,1BA$1.06
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.28
Maxwell ApartmentsLondon2BR,2BA$1.51
1639 N College Ave1639 N College Ave1BR,1.5BA$1.37
707 NorthThe Lockerbie 60%2BR,2BA$1.31
Line LoftsThe Inspiration 60%2BR,1BA$1.42
Lockerbie FlatsStudioStudio ,1BA$1.43
The Seminole1br1BR,1BA$1.13
1010 CentralLoft 60%1BR,1BA$1.52

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Frequently Asked Questions about Riley

What type of rentals are currently available in Riley?

There are currently 203 Apartments for Rent in Riley, IN with pricing that ranges from $605 to $8,118. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Riley ranging from $700 to $6,200.

What is the current price range for Rental Homes in Riley?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Riley ranges from $700 to $6,200 with an average monthly rent of $1,980.

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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.