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from $640Studio to 1 Bedroom Apartments Contact Us For Availability
Dunbar Court
1022 Dr Martin Luther King StIndianapolis, IN 46202
Cheap Apartments for Rent in the The Canal Neighborhood of Indianapolis, IN from $600 (19 Rentals)
Cheap Apartments in the The Canal area of Indianapolis.
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from $9891 to 2 Bedroom Apartments Available Now
Lockefield Gardens
737 Lockefield LnIndianapolis, IN 46202
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from $1,196Studio to 3 Bedroom Apartments Available Now
Artistry Indy
451-475 E Market StIndianapolis, IN 46204
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from $1,2001 to 3 Bedroom Apartments Available Now
946 MLK
946 Dr Martin Luther King Jr StIndianapolis, IN 46202
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from $1,2201 to 3 Bedroom Apartments Contact Us For Availability
9 on Canal
335 W 9th StIndianapolis, IN 46202
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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from $1,210Studio to 2 Bedroom Apartments Available Now
Rise on Meridian
915 S Meridian StIndianapolis, IN 46225
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from $1,117Studio to 2 Bedroom Apartments Available Now
Canal Square
359 N West StIndianapolis, IN 46202
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from $1,341Studio to 2 Bedroom Apartments Available Now
Industry Indianapolis
421 N Pennsylvania StIndianapolis, IN 46204
335 W 9th St
IndianapolisIN46202
335 W 9th St
IndianapolisIN46202
335 W 9th St
IndianapolisIN46202
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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from $1,436Studio to 2 Bedroom Apartments Available Now
Canal Overlook Apartments
430 N Indiana AveIndianapolis, IN 46202
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from $1,442Studio to 2 Bedroom Apartments Available May 25
Ardmore Apartments
231 N Pennslvania StIndianapolis, IN 46204
335 W 9th St
IndianapolisIN46202
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from $1,4851 to 2 Bedroom Apartments Available Now
Kennedy Apartments
806 Dr Martin Luther King Jr StIndianapolis, IN 46202
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from $1,3901 to 3 Bedroom Apartments Available Now
CityWay
229 S Delaware StIndianapolis, IN 46204
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The Canal - 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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Studio to 4 Bedroom Apartments
632 MLK Apartments
632 Dr Martin Luther King Jr StIndianapolis, IN 46202
Showing Results 1-19, Page 1 of 1
The Canal, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in The Canal?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| The Canal Studio Apartments | $1,513 | $640 | $3,684 |
| The Canal 1 Bedroom Apartments | $1,812 | $875 | $4,325 |
| The Canal 2 Bedroom Apartments | $2,442 | $1,049 | $9,608 |
| The Canal 3 Bedroom Apartments | $3,204 | $1,995 | $8,833 |
| The Canal 4 Bedroom Apartments | $989 | $989 | $989 |
Browse Apartments in this Neighborhood
There are currently 19 rentals with your search options within a 2 mile radius of the The Canal Neighborhood of Indianapolis, IN.
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The Canal, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
- Nearby Cities
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Cheapest Available The Canal Apartments for Rent
The cheapest available apartment rental in the The Canal area of Indianapolis, IN is a 1 Bed unit found at Lockefield Gardens priced from $991. Senate Manor has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,005. Here are the most affordable The Canal apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Lockefield Gardens | Standard One Bedroom (SR3) | 1BR,1BA | $991 |
| Senate Manor | 1.1 Ap | 1BR,1BA | $1,005 |
| Indiana Flats and Townhomes | 2 x 1 | 2BR,1BA | $1,095 |
| Canal Square | Arch | 1BR,1BA | $1,117 |
| 946 MLK | A3 | 1BR,1BA | $1,200 |
Best Value Apartments for Rent in The Canal, IN
As of May 08, 2025 the best value apartment in the The Canal area is the $1.06 price per square foot 1 Bedroom 1 Bath Model at The Block in the in the Riley neighborhood starting from $1,539. The second greatest value The Canal 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 The Canal apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Block | 1 Bedroom 1 Bath | 1BR,1BA | $1.06 |
| Gardens of Canal Court | Two Bedroom Two Bath (1,184 - 1,194 Square Feet) | 2BR,2BA | $1.29 |
| Kennedy Apartments | 2 Bed 1 Bath | 2BR,1BA | $1.65 |
| Harding Street Lofts | 2.2 A2 | 2BR,2BA | $2.01 |
| Cosmopolitan on the Canal | Chicago | Studio ,1BA | $2.14 |
| Indiana Flats and Townhomes | 2 x 1 Townhome | 2BR,1BA | $1.63 |
| 946 MLK | A3 | 1BR,1BA | $2.21 |
| Lockefield Gardens | Standard One Bedroom (S1) | 1BR,1BA | $1.85 |
| Canal Square | Arch II | 1BR,1BA | $2.47 |
| Senate Manor | 1.1 Ap | 1BR,1BA | $2.40 |
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 LifestyleThe Canal, Indianapolis, IN
Ranked #29
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Getting Around the The Canal Neighborhood in Indianapolis, IN
Walk Score®
78 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
93 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
57 / 100
Good Transit
Many 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 The Canal Apartments
What is a cheap apartment in The Canal?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in The Canal is under $1,485.
What is the price of a cheap apartment in The Canal?
The cheapest apartment in The Canal is Lockefield Gardens which is listed at $991, while the average apartment in The Canal costs $2,580.
What types of apartments are the cheapest in The Canal?
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 5 regular apartments in The Canal that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.
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.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.
Rise of Digital Nomads: Remote Work Tips for Apartment Renters
Written by: Brandie Parton
As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.