Cheap Apartments for Rent in Carmel, IN from $799 (149 Rentals)

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

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property at 12833 Tradd St
$1,650

Total Monthly Price

Base Rent$1,650
Total Monthly Price$1,650
1 Bedroom, 1 Bath Condo for Rent
Available Oct 1
Affordability

12833 Tradd St, Unit 2C

12833 Tradd St
CarmelIN46032
  • Smoke Free
property at 10746 Central Ave
$1,795

Total Monthly Price

Base Rent$1,795
Total Monthly Price$1,795
3 Bedroom, 2 Bath Townhome for Rent
Available Now
Affordability

10746 Central Ave

CarmelIN46280
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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

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Midtown Flats
Studio to 3 Bedroom Apartments

Midtown Flats

591 Monon BlvdCarmel, IN 46032
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Carmel Center
1 to 3 Bedroom Apartments

Carmel Center

675 Beacon StCarmel, IN 46032

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 09/20/2026

Current apartment rentals in the Carmel, IN area range in price from $1,010 to $4,466 with an overall median price of $1,763. Here is today’s list neighborhoods with the lowest median pricing for Carmel Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Carmel$1,763$1,010247

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a 1 Bed unit found at Carlton Apartments in the Spring Arbor neighborhood priced from $810. The Hub at Nora in the Nora neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $849. Here is today’s list of the most affordable Carmel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Carlton ApartmentsVilla1BR, 1BA$810
The Hub at NoraStudio - The CoreStudio, 1BA$849
Turtle CreekA2 Walnut1BR, 1BA$859
College Courts1 Bed/1 Bath Dn (A)1BR, 1BA$864
King's Reserve College Park 55+ Active AdultStudio NookStudio, 1BA$875
Dogwood Glen1 Bed 1 Bath1BR, 1BA$880
River Road ApartmentsVilla1BR, 1BA$880
Reflections ApartmentsExpressionsStudio, 1BA$884
Northwood on the TrailRedbud1BR, 1BA$922
Pickwick Farms Apartments1 BR, 1 Bath1BR, 1BA$946

Best Value Apartments for Rent in Carmel, IN

As of September 20, 2026 the best value apartment in the Carmel area is the $1.35 price per square foot Trenton Model at Casey Corner Townhomes in the Westfield neighborhood starting from $2,300. The second greatest value Carmel apartment is the Three Bedroom 2.5 Bath Townhome Model at Lakeshore Reserve Off 86th Apartments and Townhomes in the Spring Arbor neighborhood starting at $1,730 with a $1.29 price per square foot. 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.
Casey Corner TownhomesTrenton3BR, 2.5BA$1.35
Lakeshore Reserve Off 86th Apartments and TownhomesThree Bedroom 2.5 Bath Townhome3BR, 2.5BA$1.29
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR, 2BA$1.13
Woodbridge Castleton2 Bedroom Townhome2BR, 1.5BA$1.36
Parkside at Castleton Square Apartments and TownhomesTwo Bedroom 2 Bath2BR, 2BA$1.37
The Elliott at College Park Apartment HomesTwo Bedroom 1.5 Bath2BR, 1.5BA$1.11
ReNew at the Crossing2x22BR, 2BA$1.21
The Grove on Harcourt1x1.5 Large Renovated1BR, 1.5BA$1.33
TGM Autumn WoodsA21BR, 1BA$1.35
Northwood on the TrailRedbud1BR, 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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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 a cheap apartment in Carmel?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Carmel is under $946.

What is the price of a cheap apartment in Carmel?

The cheapest apartment in Carmel is Carlton Apartments which is listed at $810, while the average apartment in Carmel costs $1,763.

What types of apartments are the cheapest in Carmel?

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 3 regular apartments in Carmel that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Carmel?

Cheap apartments in Carmel have an average cost of $303 which is $1,460 cheaper than the average rent for all rentals in Carmel.

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.

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