Cheap Apartments for Rent in the Downtown Carmel Neighborhood of Carmel, IN from $1,000 (32 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
property at 741 Oswego Rd

741 Oswego Rd

CarmelIN46032

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.

Read Article
close
View Me
Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included
close
View Me
Penn Circle
1 to 2 Bedroom Apartments

Penn Circle

12415 N Pennsylvania StCarmel, IN 46032

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.

Read Article
Showing Results 1-32, Page 1 of 1

Downtown Carmel, Carmel, IN Local Guide

Cheapest Available Downtown Carmel Apartments for Rent

 

The cheapest available apartment rental in the Downtown Carmel area of Carmel, IN is a Studio unit found at MAIN STREET priced from $1,064. Providence at Old Meridian has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,176. Here are the most affordable Downtown Carmel apartments for rent in Carmel, IN:

Apartment ListingModel NameBed/BathPriced From
MAIN STREETThe MapleStudio,1BA$1,064
Providence at Old Meridian1B1B Rush Street -Renovated1BR,1BA$1,176
Carmel WoodsThe Cypress1BR,1BA$1,190
GramercyVerde (1.10 A)1BR,1BA$1,235
Highpointe on MeridianU3 Castle - 1.11BR,1BA$1,263
The Gallery ApartmentsVan Gogh1BR,1BA$1,289
Alexandria of Carmel ApartmentsThe Independence 1 BR 1 BA1BR,1BA$1,305
Lakes of CarmelLarge One Bedroom1BR,1BA$1,351
OLD TOWN ON THE MONONFoster1BR,1BA$1,354

Best Value Apartments for Rent in Downtown Carmel, IN

As of November 29, 2025 the best value apartment in the Downtown Carmel area is the $1.68 price per square foot Carnegie Model at OLD TOWN ON THE MONON in the in the Beacon Point neighborhood starting from $3,271. The second greatest value Downtown Carmel apartment is the 2 bed 2.5 bath Townh Renovated - Ralston Model at Governor Square starting at $1,820 with a $1.13 price per square foot in the Spring Mill neighborhood. Here is today’s list of the best values for Downtown Carmel apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
OLD TOWN ON THE MONONCarnegie3BR,2.5BA$1.68
Governor Square2 bed 2.5 bath Townh Renovated - Ralston2BR,2.5BA$1.13
Overture at Proscenium ApartmentsSydney2BR,2BA$1.62
Carmel WoodsThe Willows2BR,2BA$1.54
Mezz 427175A4 1x1.5 (885 sqft)1BR,1.5BA$1.81
Lakes of CarmelLarge One Bedroom1BR,1.5BA$1.68
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.27
Penn CircleA31BR,1BA$1.77
GramercyVerde (1.10 A)1BR,1BA$1.63
Highpointe on MeridianU3 Castle - 1.11BR,1BA$1.82

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Downtown Carmel, Carmel, IN

Ranked #10

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

decorative image of woman handing cat to small boy

Best Local Schools in
Downtown Carmel, Carmel, IN

School data provided by Great Schools

Getting Around the Downtown Carmel Neighborhood in Carmel, IN

Walk Score®

69 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

75 / 100

Very Bikeable

Biking is convenient for most trips

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 Downtown Carmel Apartments

What is the Cheapest Studio apartment in Downtown Carmel?

Currently the most affordable Cheap Studio Apartment in Downtown Carmel is at MAIN STREET listed at $1,064.

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

The lowest price for a Cheap One Bedroom Downtown Carmel Apartment is $1,176 at Providence at Old Meridian.

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Carmel is starting from $1,299 at MAIN STREET.

What is the most affordable Downtown Carmel Three Bedroom Apartment?

The best deal on a cheap Downtown Carmel Three Bedroom Apartment rental is at Gramercy and starts from $1,595.

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.