Cheap Apartments for Rent in Carmel, IN from $500 (71 Rentals)

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

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The Village on Spring Mill
Rent Specials
$1,160 - $2,787
Total Monthly Price

Total Monthly Price

Base Rent
$1,078 - $2,705
Required Monthly Fees
$82
Total Monthly Price
$1,160 - $2,787
1 to 3 Bedroom Apartments Available Now

The Village on Spring Mill

14637 Handel DrCarmel, IN 46032
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Gramercy
Rent Specials
$1,245 - $2,225
Total Monthly Price

Total Monthly Price

Base Rent
$1,208 - $2,188
Required Monthly Fees
$37
Total Monthly Price
$1,245 - $2,225
1 to 3 Bedroom Apartments Available Now

Gramercy

945 Mohawk Hills DrCarmel, IN 46032
Corporate Housing
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Lakes of Carmel
Rent Specials
$1,296 - $1,777
Total Monthly Price

Total Monthly Price

Base Rent
$1,272 - $1,753
Required Monthly Fees
$24
Total Monthly Price
$1,296 - $1,777
1 to 2 Bedroom Apartments Available Now

Lakes of Carmel

382 Arbor DrCarmel, IN 46032
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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
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Dogwood Glen
$695 - $2,365
Total Monthly Price

Total Monthly Price

Base Rent
$682 - $2,352
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Mar 30

Dogwood Glen

2390 Woodglen DrIndianapolis, IN 46260
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Scandia Apartments
Rent Specials
$894 - $1,630
Total Monthly Price

Total Monthly Price

Base Rent
$782 - $1,518
Required Monthly Fees
$112
Total Monthly Price
$894 - $1,630
1 to 3 Bedroom Apartments Available Now

Scandia Apartments

9250 Kungsholm DrIndianapolis, IN 46250
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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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ReNew at The Crossing
$932 - $2,404
Total Monthly Price

Total Monthly Price

Base Rent
$900 - $2,372
Required Monthly Fees
Varies
Total Monthly Price
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1 to 3 Bedroom Apartments Available Now

ReNew at The Crossing

1130 Racquet Club North DrIndianapolis, IN 46260
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Avia Lofts at Founders Road
Rent Specials
$959 - $1,369
Total Monthly Price

Total Monthly Price

Base Rent
$933 - $1,343
Required Monthly Fees
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Total Monthly Price
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Studio to 2 Bedroom Apartments Available Now

Avia Lofts at Founders Road

3553 Founders RdIndianapolis, IN 46268
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Riverbend Apartments
Rent Specials
$986 - $1,802
Total Monthly Price

Total Monthly Price

Base Rent
$911 - $1,727
Required Monthly Fees
Varies
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Riverbend Apartments

8850 River Bend PkyIndianapolis, IN 46250
Active Lifestyle
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Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

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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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Showing Results 1-50, Page 1 of 2

Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 03/23/2026

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$1,991$900237

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+ Active Living in the Spring Arbor neighborhood priced from $699. Carlton Apartments in the Spring Arbor neighborhood has the second lowest priced unit, which is a 1 Bed 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+ Active LivingStudio KingStudio,1BA$699
Carlton ApartmentsVilla1BR,1BA$800
Reflections ApartmentsReplicaStudio,1BA$824
The Hub at NoraStudio - The CoreStudio,1BA$829
Turtle CreekStudioStudio,1BA$859
River Road ApartmentsVilla1BR,1BA$880
Scandia ApartmentsTivoli1BR,1BA$894
Summerwood on Towne Line ApartmentsPoplar1BR,1BA$918
ReNew at The Crossing1 Bedroom 1 Bathroom 753 Sq. Ft.1BR,1BA$932

Best Value Apartments for Rent in Carmel, IN

As of March 23, 2026 the best value apartment in the Carmel area is the $1.18 price per square foot 7176B1 Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,599. The second greatest value Carmel apartment is the Two Bedroom TH Model at Woodland Springs Apartment Homes starting at $1,797 with a $1.12 price per square foot in the Spring Mill 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 Meridian7176B12BR,2BA$1.18
Woodland Springs Apartment HomesTwo Bedroom TH2BR,2.5BA$1.12
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.17
Willow Lake ApartmentsKeystone1BR,1BA$1.28
The Preserve on Allisonville TownhomesTwo Bedroom Townhome2BR,1.5BA$1.34
The Grove on Harcourt1x1,5 Large Renovated1BR,1.5BA$1.22
Sanctuary at FishersThe Harmony1BR,1BA$1.35
Carlyle CourtTwo Bedroom One Bathroom (CN1)2BR,1BA$1.32
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.14
Scandia ApartmentsTivoli1BR,1BA$1.15

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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Carmel, IN
Population: 93,510

Ranked #348

in US Census Population by City

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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!

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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+ Active Living listed at $699.

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 $984 at Scandia Apartments.

What is the most affordable Carmel Three Bedroom Apartment?

The best deal on a cheap Carmel Three Bedroom Apartment rental is at The Grove on Harcourt and starts from $1,259.

Expert Rental Resources

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.

Helpful Local Expert Guides

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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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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

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My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

Articles, How-To's, and Tips

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

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Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.