741 N Rangeline Rd
CarmelIN46032
Cheap Homes for Rent in Shadow Lakes Neighborhood of Carmel, IN from $1,200 (8 Rentals)
Search the lowest-cost Homes available for rent right now in the Shadow Lakes area of Carmel.
881 Warrington Ave
WestfieldIN46074
511 Zephyr Way
WestfieldIN46074
551 Grabill Dr
WestfieldIN46074
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.
17546 Ebling Trl
WestfieldIN46062
4217 Douro Trl
WestfieldIN46062
17710 Gasparilla Ct
NoblesvilleIN46062
17506 Shady Nook Rd
NoblesvilleIN46062
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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Shadow Lakes, Carmel, IN Local Guide
How much does it cost to rent a home in Shadow Lakes?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Shadow Lakes 2 Bedroom Homes for Rent | $2,367 | $1,275 | $2,950 |
| Shadow Lakes 3 Bedroom Homes for Rent | $2,572 | $1,899 | $4,000 |
| Shadow Lakes 4 Bedroom Homes for Rent | $3,085 | $2,305 | $3,800 |
| Shadow Lakes 5 Bedroom Homes for Rent | $5,327 | $3,600 | $9,500 |
| Shadow Lakes 6 Bedroom Homes for Rent | $15,000 | $10,000 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 8 rentals with your search options within a 3 mile radius of the Shadow Lakes Neighborhood of Carmel, IN.
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Shadow Lakes, Carmel, IN Local Guide
- Nearby Carmel neighborhoods
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Cheapest Available Shadow Lakes Apartments for Rent
The cheapest available apartment rental in the Shadow Lakes area of Indianapolis, IN is a 1 Bed unit found at Main Street on the Monon priced from $1,144. Gramercy has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,195. Here are the most affordable Shadow Lakes apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Main Street on the Monon | A2 Walnut | 1BR,1BA | $1,144 |
| Gramercy | Verde (1.10A) | 1BR,1BA | $1,195 |
| Carmel Woods | The Cypress | 1BR,1BA | $1,210 |
Best Value Apartments for Rent in Shadow Lakes, IN
As of June 23, 2026 the best value apartment in the Shadow Lakes area is the $1.54 price per square foot 7177B1 Model at Cottages at Sanders Glen in the in the Beacon Point neighborhood starting from $1,789. The second greatest value Shadow Lakes apartment is the The Deccan Model at Flats at Spring Mill Station starting at $1,666 with a $1.46 price per square foot in the Beacon Point neighborhood. Here is today’s list of the best values for Shadow Lakes apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Cottages at Sanders Glen | 7177B1 | 2BR,1BA | $1.54 |
| Flats at Spring Mill Station | The Deccan | 2BR,2BA | $1.46 |
| Alexandria of Carmel Apartments | The Congressional 2 BR 1 BA | 2BR,1BA | $1.69 |
| Carmel Landing Apartment Homes | 2-Garden | 2BR,2BA | $1.58 |
| Pebble Brook Village | Bay Hill | 2BR,1BA | $1.54 |
| The Village on Spring Mill | Verdi - 1 bed 1 bath - Renovated | 1BR,1BA | $1.64 |
| Carmel Woods | The Cypress | 1BR,1BA | $1.51 |
| 124 Maple St, Unit 124 | 124 Maple St | 2BR,1BA | $1.59 |
| Bridgewater | The Beeson | 1BR,1BA | $1.71 |
| Gramercy | Verde (1.10A) | 1BR,1BA | $1.57 |
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.
Read Article
Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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 LifestyleShadow Lakes, Carmel, IN
Ranked #2
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Shadow Lakes, Carmel, IN
School data provided by Great Schools
Frequently Asked Questions about Shadow Lakes
What type of rentals are currently available in Shadow Lakes?
There are currently 62 Apartments for Rent in Shadow Lakes, IN with pricing that ranges from $1,078 to $4,466. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Shadow Lakes ranging from $1,275 to $15,000.
What is the current price range for Rental Homes in Shadow Lakes?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Shadow Lakes ranges from $1,275 to $15,000 with an average monthly rent of $5,670.
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.
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