Cheap Apartments for Rent in Carmel, IN from $500 (75 Rentals)

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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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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

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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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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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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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 01/25/2026

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$2,639$1,000247

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a Studio unit found at The Hub at Nora in the Nora neighborhood priced from $699. Slate Run Lofts and Apartments in the Spring Arbor 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
The Hub at NoraStudio - The CoreStudio,1BA$699
Slate Run Lofts and ApartmentsStudio-AptsStudio,1BA$800
Carlton ApartmentsVilla1BR,1BA$800
Reflections ApartmentsExpressionsStudio,1BA$844
King's Reserve College Park 55+ Active LivingStudio KingStudio,1BA$844
Turtle CreekStudioStudio,1BA$859
College Courts1 Bed/1 Bath Dn (A)1BR,1BA$864
River Road ApartmentsVilla1BR,1BA$880
Woodbridge Castleton1 Bedroom Apartment1BR,1BA$948
Avia Lofts at Founders RoadStudioStudio,1BA$949

Best Value Apartments for Rent in Carmel, IN

As of January 25, 2026 the best value apartment in the Carmel area is the $1.18 price per square foot Two Bedroom with Bonus Room (7176B2) Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,599. 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$1.18
Casey Corner TownhomesTrenton3BR,2.5BA$1.35
Scandia ApartmentsNordica2BR,2BA$1.12
The Retreat Northwest2 Bedroom 2 Bathroom 1215 Sq. Ft.2BR,2.5BA$1.08
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.25
North Willow2 Bed/1 Ba w/FP-Up2BR,1BA$1.30
The Grove on 79th1x1,5 Townhome Renovated1BR,1.5BA$1.20
The Grove on Harcourt1x1,5 Upgrade1BR,1.5BA$1.16
Carlyle CourtTwo Bedroom One Bathroom (CN2)2BR,1BA$1.14
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.27

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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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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Carmel, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
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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 The Hub at Nora 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 $996 at Carlyle Court.

What is the most affordable Carmel Three Bedroom Apartment?

The best deal on a cheap Carmel Three Bedroom Apartment rental is at Scandia Apartments and starts from $1,410.

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

Written by: Wendy Melton

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.

Articles, How-To's, and Tips

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

Written by: Lauren Harrington

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.