Cheap Homes for Rent in Riley Neighborhood of Indianapolis, IN from $600 (9 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

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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

Best Value Apartments for Rent in Riley, IN

As of March 27, 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 3 Bedroom 2 Bath Model at The Block starting at $2,199 with a $1.24 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 Block3 Bedroom 2 Bath3BR,2BA$1.24
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.28
Maxwell ApartmentsLondon2BR,2BA$1.47
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
College Manor1 Br1BR,1BA$1.57

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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 $8,137. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Riley ranging from $695 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 $695 to $6,200 with an average monthly rent of $1,925.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

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.

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.