Cheap Apartments for Rent in the Downtown Carmel Neighborhood of Carmel, IN from $1,000 (29 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

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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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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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

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 1-29, 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 $1,113. Carmel Woods has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,190. Here are the most affordable Downtown Carmel apartments for rent in Carmel, IN:

Apartment ListingModel NameBed/BathPriced From
MAIN STREETThe MapleStudio,1BA$1,113
Carmel WoodsThe Cypress1BR,1BA$1,190
The Gallery ApartmentsVan Gogh1BR,1BA$1,199
GramercyVerde (1.10 A)1BR,1BA$1,200
Muse CarmelWalkerStudio,1BA$1,210
Highpointe on MeridianU2 Blackburn - 1.11BR,1BA$1,224
Lakes of CarmelOne Bedroom1BR,1BA$1,296
OLD TOWN ON THE MONONFoster1BR,1BA$1,354
Providence at Old Meridian1B1B Canal Street - Renovated1BR,1BA$1,363

Best Value Apartments for Rent in Downtown Carmel, IN

As of January 18, 2026 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 Two Bedroom TH Model at Woodland Springs Apartment Homes starting at $1,749 with a $1.09 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
Woodland Springs Apartment HomesTwo Bedroom TH2BR,2.5BA$1.09
Governor Square2 bedroom 2 bathroom Renovated -Marshall2BR,2BA$1.20
Carmel WoodsThe Willows2BR,2BA$1.54
Penn CircleA101BR,1BA$1.80
Mezz 427175A4 1x1.5 (885 sqft)1BR,1.5BA$1.81
Overture at Proscenium ApartmentsScotStudio ,1BA$1.72
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.27
GramercyVerde (1.10 A)1BR,1BA$1.58
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 #10

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

Pet Friendliness Lifestyle Score

3.0
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 listed at $1,113.

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

The lowest price for a Cheap One Bedroom Downtown Carmel Apartment is $1,190 at Carmel Woods.

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 $1,505.

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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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!