Cheap Apartments for Rent in the Downtown Carmel Neighborhood of Carmel, IN from $900 (28 Rentals)

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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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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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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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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Penn Circle
1 to 2 Bedroom Apartments

Penn Circle

12415 N Pennsylvania StCarmel, IN 46032

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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Showing Results 1-28, 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 on the Monon priced from $1,134. Gramercy has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,260. Here are the most affordable Downtown Carmel apartments for rent in Carmel, IN:

Apartment ListingModel NameBed/BathPriced From
Main Street on the MononMapleStudio,1BA$1,134
GramercyVerde (1.10A)1BR,1BA$1,260
Lakes of CarmelOne Bedroom1BR,1BA$1,296
The Gallery ApartmentsDaVinci1BR,1BA$1,329
Providence at Old Meridian1 Bdrm Extension -Renovated1BR,1BA$1,364
The Wren & The WindsorRoyal1BR,1BA$1,368
Midtown Flats1 Bedroom, 1 BathroomStudio,1BA$1,377
Highpointe on MeridianU1 Bear - 1.11BR,1BA$1,389
Governor SquareDurbin - Renovated1BR,1BA$1,395

Best Value Apartments for Rent in Downtown Carmel, IN

As of March 10, 2026 the best value apartment in the Downtown Carmel area is the $1.72 price per square foot 7183C1 3x1.5 Townhome (1280 sqft) Model at Park Lane Apartments in the in the Beacon Point neighborhood starting from $2,199. The second greatest value Downtown Carmel apartment is the Two Bedroom Model at Woodland Springs Apartment Homes starting at $1,431 with a $1.19 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.
Park Lane Apartments7183C1 3x1.5 Townhome (1280 sqft)3BR,1.5BA$1.72
Woodland Springs Apartment HomesTwo Bedroom2BR,2BA$1.19
Penn CircleB62BR,2BA$1.50
Overture at Proscenium ApartmentsLondon2BR,2BA$1.71
Carmel WoodsThe Willows2BR,2BA$1.54
Governor SquareDurbin - Renovated1BR,1BA$1.55
Mezz 42Con Moto - 7175A1 1x1 (800 sqft)1BR,1BA$1.87
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.14
GramercyVerde (1.10A)1BR,1BA$1.66
Lakes of CarmelOne Bedroom1BR,1BA$1.73

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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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.

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Pet Friendly Lifestyle
Downtown Carmel, Carmel, IN

Ranked #9

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
Downtown Carmel, Carmel, IN

School data provided by Great Schools

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 on the Monon listed at $1,134.

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

The lowest price for a Cheap One Bedroom Downtown Carmel Apartment is $1,194 at Main Street on the Monon.

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 $1,304 at Main Street on the Monon.

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 $1,575.

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.

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

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.