Cheap Apartments for Rent in the Riverside Neighborhood of Indianapolis, IN from $300 (98 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 1 W 28th St

1 W 28th St

IndianapolisIN46208
Showing Results 1-50, Page 1 of 2

Riverside, Indianapolis, IN Local Guide

Cheapest Available Riverside Apartments for Rent

 

The cheapest available apartment rental in the Riverside area of Indianapolis, IN is a 1 Bed unit found at 1043 N Holmes Ave priced from $390. 281 N Warman Ave has the second lowest priced unit, which is a 1 Bed apartment currently listed from $425. Here are the most affordable Riverside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
1043 N Holmes Ave1043 N Holmes Ave1BR,1BA$390
281 N Warman Ave281 N Warman Ave1BR,1BA$425
Illinois Street Senior ApartmentsStudio 3 30%Studio,1BA$462
Meridian TowersStudio ApartmentStudio,1BA$629
Union at 16th1 Bed 1 Bath1BR,1BA$684
Oxmoor Indy1BR/1.0BA1BR,1BA$699
Proctor Place1 Bedroom1BR,1BA$725
St. Agnes Apartments*Studio- LoftStudio,1BA$740
1733 N. Meridian1BR1BR,1BA$780
Fields Apartments1 Bedroom 1 Bath Apartment1BR,1BA$805

Best Value Apartments for Rent in Riverside, IN

As of March 29, 2025 the best value apartment in the Riverside area is the $0.82 price per square foot 2332 Alabama St Model at 2332 Alabama St in the in the Near North Indianapolis neighborhood starting from $1,650. The second greatest value Riverside apartment is the 2862 Highland Pl Model at 2862 Highland Pl starting at $1,342 with a $1.22 price per square foot in the Cheswick Place neighborhood. Here is today’s list of the best values for Riverside apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2332 Alabama St2332 Alabama St3BR,3BA$0.82
2862 Highland Pl2862 Highland Pl2BR,1BA$1.22
Mansion Row - Where Historic Charm Meets Modern7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.24
Riverside Apartments2 Bedroom 1.5 Bath Townhouse2BR,1.5BA$1.00
Proctor Place2 Bedroom2BR,1BA$1.17
1733 N. Meridian1BR1BR,1BA$1.04
The Sheldrake Apartments1 Bedroom With Den1BR,1BA$1.17
The Seminole1br1BR,1BA$1.13
Oxmoor Indy1BR/1.0BA1BR,1BA$1.00
Fields Apartments1 Bedroom 1 Bath Apartment1BR,1BA$1.20

Quick 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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Riverside, Indianapolis, IN

Ranked #4

Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Best Local Schools in
Riverside, Indianapolis, IN

School data provided by Great Schools

Best Local Schools in
Riverside, Indianapolis, IN

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, and customized analysis for Indianapolis, Indiana. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, kid and pet-friendly communities, availability of transit options, and more. These search options are in the site filters at the top of this page.

Getting Around the Riverside Neighborhood in Indianapolis, IN

Walk Score®

33 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

35 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Riverside Apartments

What is a cheap apartment in Riverside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Riverside is under $805.

What is the price of a cheap apartment in Riverside?

The cheapest apartment in Riverside is 1043 N Holmes Ave which is listed at $390, while the average apartment in Riverside costs $1,916.

What types of apartments are the cheapest in Riverside?

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 65 regular apartments in Riverside 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 Riverside?

Cheap apartments in Riverside have an average cost of $342 which is $1,574 cheaper than the average rent for all rentals in Riverside.

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.