Cheap Apartments for Rent in the Downtown Carmel Neighborhood of Carmel, IN from $900 (25 Rentals)

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

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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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

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

Penn Circle

12415 N Pennsylvania StCarmel, IN 46032

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 1 Bed unit found at MAIN STREET priced from $1,174. Carmel Woods has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,233. Here are the most affordable Downtown Carmel apartments for rent in Carmel, IN:

Apartment ListingModel NameBed/BathPriced From
MAIN STREETThe Walnut1BR,1BA$1,174
Carmel WoodsThe Cypress1BR,1BA$1,233
Providence at Old Meridian1 Bdrm Extension -Renovated1BR,1BA$1,249
Governor SquareDurbin - Renovated1BR,1BA$1,250
GramercyVerde (1.10 A)1BR,1BA$1,285

Best Value Apartments for Rent in Downtown Carmel, IN

As of June 02, 2025 the best value apartment in the Downtown Carmel area is the $1.85 price per square foot Sydney Model at Overture at Proscenium Apartments in the in the Beacon Point neighborhood starting from $2,402. The second greatest value Downtown Carmel apartment is the B5 Model at Penn Circle starting at $1,783 with a $1.63 price per square foot in the Beacon Point 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.
Overture at Proscenium ApartmentsSydney2BR,2BA$1.85
Penn CircleB52BR,2BA$1.63
Governor SquareDurbin - Renovated1BR,1BA$1.39
Mezz 42Accapella (7175A2 1x1 - 890 sqft)1BR,1BA$1.72
Park Lane Apartments7183B3 2x2 (876 sqft)2BR,2BA$1.71
OLD TOWN ON THE MONONFoster1BR,1BA$1.62
Carmel WoodsThe Cypress1BR,1BA$1.54
The OliviaBudapest1BR,1BA$1.91
GramercyVerde (1.10 A)1BR,1BA$1.69
MAIN STREETThe Walnut1BR,1BA$1.81

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Carmel, Carmel, IN

Ranked #8

Among neighborhoods in Carmel, IN 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

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

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

The lowest price for a Cheap One Bedroom Downtown Carmel Apartment is $1,174 at MAIN STREET.

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 $1,384 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 Carmel Woods and starts from $1,608.

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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.