Cheap Homes for Rent in Carmel, IN from $400 (20 Rentals)

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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 11/05/2025

Current apartment rentals in the Carmel, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Carmel Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Carmel$2,812$1,70024

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a Studio unit found at The Hub at Nora in the Nora neighborhood priced from $749. Reflections Apartments in the Spring Arbor neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $844. Here is today’s list of the most affordable Carmel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Hub at NoraStudio Suite with Patio/Balcony - The SparkStudio,1BA$749
Reflections ApartmentsReplicaStudio,1BA$844
Slate Run Lofts and ApartmentsStudio-AptsStudio,1BA$850
Turtle CreekStudioStudio,1BA$859
College Courts1 Bed/1 Bath Up (B)1BR,1BA$859

Best Value Apartments for Rent in Carmel, IN

As of November 06, 2025 the best value apartment in the Carmel area is the $1.18 price per square foot 7176B1 Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,599. The second greatest value Carmel apartment is the 2Bd/2Ba Dn W/D Model at Ivy Knoll Apartments starting at $1,494 with a $1.25 price per square foot in the Roxbury neighborhood. Here is today’s list of the best values for Carmel apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pinnacle on Meridian7176B12BR,2BA$1.18
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.25
North Willow2 Bed/1 Ba w/FP-Up2BR,1BA$1.30
The Grove on 79th1 Bed 1.5 Bath Apartment - Renovated1BR,1.5BA$1.12
The Elliott at College Park Apartment HomesTwo Bedroom 1.5 Bath2BR,1.5BA$1.35
The Retreat Northwest1 Bedroom 1.5 Bathroom 942 Sq. Ft.1BR,1.5BA$1.16
The Grove on Harcourt1 Bed 1.5 Bath Large Apartment - Reno1BR,1.5BA$1.15
10903 N College Ave, Unit UNIT A10903 N College Ave1BR,1BA$1.17
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.27
Scandia ApartmentsTivoli1BR,1BA$1.28

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Pet Friendly Lifestyle
Carmel, IN

Ranked #2

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Carmel, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Carmel

What type of rentals are currently available in Carmel?

There are currently 166 Apartments for Rent in Carmel, IN with pricing that ranges from $705 to $7,338. There are also 160 Single Family Homes for rent, Condos, and Townhome rentals currently available in Carmel ranging from $400 to $10,000.

What is the current price range for Rental Homes in Carmel?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Carmel ranges from $400 to $10,000 with an average monthly rent of $2,423.

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 A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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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! 

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.