
Cheap Apartments for Rent in Carmel, IN from $500 (89 Rentals)
Search the lowest-cost Apartments available for rent right now in Carmel.


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The Gallery Apartments

Woodland Springs Apartment Homes

The Village on Spring Mill

Alexandria of Carmel Apartments

Muse 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.

The Wren & The Windsor

Lakes of Carmel

Providence at Old Meridian

Governor Square

OLD TOWN ON THE MONON

Avant

The Olivia
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.

King's Reserve College Park - 55+ Senior

Carlton Apartments

The Hub at Nora

River Road Apartments

Scandia Apartments

Reflections Apartments

Pickwick Farms Apartments

Slate Run Lofts and Apartments
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.

The Retreat Northwest

7988 N Michigan Rd

The Eclipse

Grove on 79th

Woodbridge Castleton

The Towers at Crooked Creek Senior Housing

Avia Lofts at Founders Road

TGM Autumn Woods

Grove on Harcourt

College Courts
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.

Chelsea Village

The Villages of Bent Tree Apartments

The Manning Apartment Homes

Riverbend Apartments

Oak Lake at Crooked Creek

Parkside at Castleton Square Apartments and Townhomes

Summerwood on Towne Line Apartments

The Lodge at Trails Edge

Ashton Brook

Crooked Creek

Lakeshore Reserve Off 86th Apartments and Townhomes

Northwood on the Trail

Sunblest Apartments
Carmel, IN Local Guide

How much does it cost to rent an apartment in Carmel?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Cheap Carmel Studio Apartments | $1,211 | $799 | $4,016 |
Cheap Carmel 1 Bedroom Apartments | $1,508 | $800 | $4,312 |
Cheap Carmel 2 Bedroom Apartments | $1,896 | $1,060 | $5,000 |
Cheap Carmel 3 Bedroom Apartments | $2,388 | $1,159 | $10,000+ |
Cheap Carmel 4 Bedroom Apartments | $3,200 | $3,200 | $3,200 |
Browse Top Apartments in Carmel
See all Apartments in CarmelExplore Carmel
Carmel, IN Local Guide
- Carmel Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Carmel, IN
Pricing Updated: 07/25/2025Current 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:
Neighborhood | Median Price | Min Price | Available Units |
---|---|---|---|
Downtown Carmel | $2,114 | $1,159 | 199 |
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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
King's Reserve College Park - 55+ Senior | Studio King | Studio,1BA | $799 |
The Hub at Nora | Studio - 441 Sq Ft | Studio,1BA | $800 |
Carlton Apartments | Villa | 1BR,1BA | $800 |
Turtle Creek | Studio 3rd | Studio,1BA | $817 |
Reflections Apartments | Expressions | Studio,1BA | $874 |
River Road Apartments | Villa | 1BR,1BA | $880 |
The Retreat Northwest | 1 Bedroom 1 Bathroom 753 Sq. Ft. | 1BR,1BA | $953 |
Grove on 79th | 1 Bed 1 Bath Apartment - Upgraded | 1BR,1BA | $980 |
Woodbridge Castleton | 1 Bedroom Apartment | 1BR,1BA | $984 |
The Eclipse | Cosmo - Loft - Renovated | 1BR,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Pinnacle on Meridian | Two Bedroom with Bonus Room (7176B2) | 2BR,2BA | $1.08 |
Casey Corner Townhomes | Trenton | 3BR,2.5BA | $1.35 |
The Retreat at Carmel | Bordeaux | 2BR,2BA | $1.31 |
Governor Square | 2 bedroom 2 bathroom Renovated -Marshall | 2BR,2BA | $1.33 |
Ivy Knoll Apartments | 2Bd/2Ba Dn W/D | 2BR,2BA | $1.23 |
Sunblest Apartments | 2AS-Nickel Plate | 2BR,2BA | $1.28 |
Sunlake Apartments | 2G-Sunrise Series | 2BR,2BA | $1.32 |
The Preserve on Allisonville Townhomes | Two Bedroom Townhome | 2BR,1.5BA | $1.36 |
Grove on Harcourt | 1 Bed 1.5 Bath Large Apartment - Upgrade | 1BR,1.5BA | $1.29 |
Scandia Apartments | Dannenborg | 1BR,1.5BA | $1.00 |
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.
Pet Friendly LifestyleCarmel, IN
Ranked #2
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
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
See the most popular apartments and homes in Carmel, IN
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.

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.

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.

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.

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.