Cheap Apartments for Rent in Carmel, IN from $500 (89 Rentals)

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Search the lowest-cost Apartments available for rent right now in Carmel.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 07/25/2025

Current apartment rentals in the Carmel, 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 Carmel Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Carmel$2,114$1,159199

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a Studio unit found at King's Reserve College Park - 55+ Senior in the Spring Arbor neighborhood priced from $799. The Hub at Nora in the Nora neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here is today’s list of the most affordable Carmel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
King's Reserve College Park - 55+ SeniorStudio KingStudio,1BA$799
The Hub at NoraStudio - 441 Sq FtStudio,1BA$800
Carlton ApartmentsVilla1BR,1BA$800
Turtle CreekStudio 3rdStudio,1BA$817
Reflections ApartmentsExpressionsStudio,1BA$874
River Road ApartmentsVilla1BR,1BA$880
The Retreat Northwest1 Bedroom 1 Bathroom 753 Sq. Ft.1BR,1BA$953
Grove on 79th1 Bed 1 Bath Apartment - Upgraded1BR,1BA$980
Woodbridge Castleton1 Bedroom Apartment1BR,1BA$984
The EclipseCosmo - Loft - Renovated1BR,1BA$999

Best Value Apartments for Rent in Carmel, IN

As of July 25, 2025 the best value apartment in the Carmel area is the $1.08 price per square foot Two Bedroom with Bonus Room (7176B2) Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,375. The second greatest value Carmel apartment is the Trenton Model at Casey Corner Townhomes starting at $2,300 with a $1.35 price per square foot in the Countryside/Richter`s Corner neighborhood. Here is today’s list of the best values for Carmel apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pinnacle on MeridianTwo Bedroom with Bonus Room (7176B2)2BR,2BA$1.08
Casey Corner TownhomesTrenton3BR,2.5BA$1.35
The Retreat at CarmelBordeaux2BR,2BA$1.31
Governor Square2 bedroom 2 bathroom Renovated -Marshall2BR,2BA$1.33
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.23
Sunblest Apartments2AS-Nickel Plate2BR,2BA$1.28
Sunlake Apartments2G-Sunrise Series2BR,2BA$1.32
The Preserve on Allisonville TownhomesTwo Bedroom Townhome2BR,1.5BA$1.36
Grove on Harcourt1 Bed 1.5 Bath Large Apartment - Upgrade1BR,1.5BA$1.29
Scandia ApartmentsDannenborg1BR,1.5BA$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
Carmel, IN

Ranked #2

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Carmel, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Carmel, IN Rentals by Map

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See the most popular apartments and homes in Carmel, IN

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Getting Around Carmel, IN

Walk Score®

58 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

70 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

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 Carmel Apartments

What is the Cheapest Studio apartment in Carmel?

Currently the most affordable Cheap Studio Apartment in Carmel is at King's Reserve College Park - 55+ Senior listed at $799.

How much is rent for a Cheap One Bedroom Carmel Apartment?

The lowest price for a Cheap One Bedroom Carmel Apartment is $800 at Carlton Apartments.

What is the lowest price for a Cheap Two Bedroom Carmel Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Carmel is starting from $1,060 at Carlton Apartments.

What is the most affordable Carmel Three Bedroom Apartment?

The best deal on a cheap Carmel Three Bedroom Apartment rental is at Grove on Harcourt and starts from $1,299.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.