Cheap Apartments for Rent in the Riverside Neighborhood of Indianapolis, IN from $300 (100 Rentals)

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

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Riverside - One of the Best Affordable Neighborhoods in Indianapolis

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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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 Studio unit found at Illinois Street Senior Apartments priced from $462. Meridian Towers has the second lowest priced unit, which is a Studio apartment currently listed from $629. Here are the most affordable Riverside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Illinois Street Senior ApartmentsStudio 3 30%Studio,1BA$462
Meridian TowersStudio ApartmentStudio,1BA$629
Fields Apartments1 Bedroom 1 Bath Apartment1BR,1BA$661
Eagledale Senior Apartments1F 40% HOME1BR,1BA$686
Oxmoor Indy1BR/1.0BA1BR,1BA$699
Woods at Oak CrossingOne Bedroom One Bath1BR,1BA$755
1733 N. Meridian1BR1BR,1BA$780
Union at 16th2 Bed 2 Bath2BR,2BA$820
The Seminole1br1BR,1BA$833
Proctor Place2 Bedroom2BR,1BA$850

Best Value Apartments for Rent in Riverside, IN

As of April 21, 2025 the best value apartment in the Riverside 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 Riverside apartment is the 3 Bedroom 2 Bath Apartment Model at Fields Apartments starting at $1,186 with a $0.93 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.
The Block3 Bedroom 2 Bath3BR,2BA$1.24
Fields Apartments3 Bedroom 2 Bath Apartment3BR,2BA$0.93
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.29
Mansion Row - Where Historic Charm Meets Modern7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.24
Riverside Apartments2 Bedroom 1 Bath Apartment2BR,1BA$0.88
1733 N. Meridian1BR1BR,1BA$1.04
The Seminole1br1BR,1BA$1.13
Proctor Place1 Bedroom1BR,1BA$1.25
Abney Lake1 Bedroom Fireplace1BR,1BA$1.25
Oxmoor Indy1BR/1.0BA1BR,1BA$1.00

Quick Rent Budget Calculator

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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.

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Pet Friendly Lifestyle
Riverside, Indianapolis, IN

Ranked #7

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 $850.

What is the price of a cheap apartment in Riverside?

The cheapest apartment in Riverside is Fields Apartments which is listed at $661, while the average apartment in Riverside costs $1,800.

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 75 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 $292 which is $1,508 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.

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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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.