Cheap Apartments for Rent in the Downtown Carmel Neighborhood of Carmel, IN from $900 (39 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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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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
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Midtown Flats
Studio to 3 Bedroom Apartments

Midtown Flats

591 Monon BlvdCarmel, 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.

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property at 209 Faulkner Ct

$1,900

Total Monthly Price

Total Monthly Price

Base Rent
$1,900
Total Monthly Price
$1,900

2 Bedroom, 2 Bath Condo for Rent

Available Now

209 Faulkner Ct, Unit 205, Unit 205

209 Faulkner Ct
CarmelIN46032
Showing Results 1-39, 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 1 Bed unit found at Main Street on the Monon priced from $1,144. Highpointe on Meridian has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,154. Here are the most affordable Downtown Carmel apartments for rent in Carmel, IN:

Apartment ListingModel NameBed/BathPriced From
Main Street on the MononWalnut 1.11BR,1BA$1,144
Highpointe on MeridianU1 Bear - 1.11BR,1BA$1,154
Providence at Old Meridian1B1B Jackson Sqr - Renovated1BR,1BA$1,280
GramercyVerde (1.10A)1BR,1BA$1,285
Lakes of CarmelOne Bedroom1BR,1BA$1,296
Governor SquareDurbin - Renovated1BR,1BA$1,325
The Wren & The Windsor in Carmel City CenterSoho PenthouseStudio,1BA$1,378
VER at Proscenium ApartmentsThe Delaney1BR,1BA$1,393
Carmel CenterBrookline1BR,1BA$1,395

Best Value Apartments for Rent in Downtown Carmel, IN

As of April 25, 2026 the best value apartment in the Downtown Carmel area is the $1.12 price per square foot Two Bedroom TH Model at Woodland Springs Apartment Homes in the in the Spring Mill neighborhood starting from $1,797. The second greatest value Downtown Carmel apartment is the 70 Florence St Model at 70 Florence St, Unit 70 Florence St starting at $2,300 with a $1.69 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.
Woodland Springs Apartment HomesTwo Bedroom TH2BR,2.5BA$1.12
70 Florence St, Unit 70 Florence St70 Florence St2BR,2.5BA$1.69
Penn CircleB1G - Garage Included2BR,2BA$1.62
Carmel WoodsThe Willows2BR,2BA$1.54
Governor SquareDurbin - Renovated1BR,1BA$1.47
Overture at Proscenium ApartmentsLonaStudio ,1BA$1.75
The Gallery ApartmentsVermeer2BR,1BA$1.82
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.20
GramercyVerde (1.10A)1BR,1BA$1.69
Lakes of CarmelOne Bedroom1BR,1BA$1.73

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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

4.0
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 $1,199.

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

The lowest price for a Cheap One Bedroom Downtown Carmel Apartment is $1,144 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 $1,259 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 Carmel Woods and starts from $1,608.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.