Cheap Homes for Rent in Carmel, IN from $400 (47 Rentals)

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Search the lowest-cost Homes available for rent right now in Carmel.

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 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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property at 4419 Deerview Ct

4419 Deerview Ct

IndianapolisIN46268

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 865 W 136th St

865 W 136th St

CarmelIN46032

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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Carmel, IN Local Guide

Cheapest Neighborhoods for Apartments in Carmel, IN

Pricing Updated: 07/31/2025

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$2,119$1,159208

Cheapest Available Carmel Apartments for Rent

 

The cheapest available apartment rental in Carmel, IN is a Studio unit found at King's Reserve College Park - 55+ Senior in the Spring Arbor neighborhood priced from $799. The Hub at Nora in the Nora neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here is today’s list of the most affordable Carmel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
King's Reserve College Park - 55+ SeniorStudio KingStudio,1BA$799
The Hub at NoraStudio - 441 Sq FtStudio,1BA$800
Carlton ApartmentsVilla1BR,1BA$800
Turtle CreekStudio 3rdStudio,1BA$817
River Road ApartmentsVilla1BR,1BA$880
Woodbridge Castleton1 Bedroom Apartment1BR,1BA$972
Grove on 79th1 Bed 1 Bath Apartment - Upgraded1BR,1BA$980
The Towers at Crooked Creek Senior Housing1BD1BR,1BA$1,008
TGM Autumn WoodsA31BR,1BA$1,020
Grove on Harcourt1 Bed 1.5 Bath Apartment1BR,1BA$1,025

Best Value Apartments for Rent in Carmel, IN

As of July 31, 2025 the best value apartment in the Carmel area is the $0.93 price per square foot 7176B1 Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,049. The second greatest value Carmel apartment is the Bordeaux Model at The Retreat at Carmel starting at $2,018 with a $1.31 price per square foot in the Nora 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$0.93
The Retreat at CarmelBordeaux2BR,2BA$1.31
Governor Square2 bedroom 2 bathroom Renovated -Marshall2BR,2BA$1.33
Ivy Knoll Apartments2Bd/2Ba Up W/D2BR,2BA$1.19
Sunblest Apartments2AS-Nickel Plate2BR,2BA$1.28
Scandia ApartmentsLandsting2BR,2BA$1.03
Sunlake Apartments2G-Sunrise Series2BR,2BA$1.32
The Preserve on Allisonville TownhomesTwo Bedroom Townhome2BR,1.5BA$1.34
The Elliott at College Park Apartment HomesTwo Bedroom 1.5 Bath2BR,1.5BA$1.28
Grove on Harcourt1 Bed 1.5 Bath Large Apartment - Upgrade1BR,1.5BA$1.29

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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Frequently Asked Questions about Carmel

What type of rentals are currently available in Carmel?

There are currently 161 Apartments for Rent in Carmel, IN with pricing that ranges from $799 to $11,670. There are also 170 Single Family Homes for rent, Condos, and Townhome rentals currently available in Carmel ranging from $400 to $12,900.

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 $12,900 with an average monthly rent of $3,376.

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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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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.