741 N Rangeline Rd
CarmelIN46032
Cheap Homes for Rent in Shadow Lakes Neighborhood of Carmel, IN from $900 (4 Rentals)
Search the lowest-cost Homes available for rent right now in the Shadow Lakes area of Carmel.
1059 Timber Creek Dr
CarmelIN46032
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.
209 Faulkner Ct, Unit 205, Unit 205
209 Faulkner Ct
CarmelIN46032
14931 Silver Thorne Way
CarmelIN46033
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.
Showing Results 1-4, Page 1 of 1
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 | $2,459 | $1,900 | $2,950 |
| Shadow Lakes 3 Bedroom Homes for Rent | $2,609 | $1,850 | $3,795 |
| Shadow Lakes 4 Bedroom Homes for Rent | $3,246 | $2,495 | $3,800 |
| Shadow Lakes 5 Bedroom Homes for Rent | $4,824 | $3,600 | $6,500 |
| Shadow Lakes 6 Bedroom Homes for Rent | $10,000 | $5,000 | $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 4 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
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Best Value Apartments for Rent in Shadow Lakes, IN
As of May 09, 2026 the best value apartment in the Shadow Lakes area is the $1.54 price per square foot Rosewood Model at Redwood Noblesville Webster Drive in the in the Beacon Point neighborhood starting from $1,999. The second greatest value Shadow Lakes apartment is the 7183C1 3x1.5 Townhome (1280 sqft) Model at Park Lane Apartments starting at $2,199 with a $1.72 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. |
|---|---|---|---|
| Redwood Noblesville Webster Drive | Rosewood | 2BR,2BA | $1.54 |
| Park Lane Apartments | 7183C1 3x1.5 Townhome (1280 sqft) | 3BR,1.5BA | $1.72 |
| Penn Circle | B1G - Garage Included | 2BR,2BA | $1.62 |
| Carmel Woods | The Willows | 2BR,2BA | $1.54 |
| Carmel Landing Apartment Homes | 2-Garden | 2BR,2BA | $1.62 |
| The Village on Spring Mill | Verdi - 1 bed 1 bath - Renovated | 1BR,1BA | $1.77 |
| 124 Maple St, Unit 124 | 124 Maple St | 2BR,1BA | $1.59 |
| Flats at Spring Mill Station | The Aberdeen | 1BR,1BA | $1.76 |
| Gramercy | Verde (1.10A) | 1BR,1BA | $1.64 |
| Lakes of Carmel | One Bedroom | 1BR,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.
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.
Read ArticleQuick 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 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 60 Apartments for Rent in Shadow Lakes, IN with pricing that ranges from $1,078 to $6,656. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Shadow Lakes ranging from $950 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 $950 to $15,000 with an average monthly rent of $4,014.
How much are larger Three and Four Bedroom Rentals in Shadow Lakes?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Shadow Lakes range from $1,608 to $4,890, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,850 to $3,795. Four Bedroom Single-Family rentals are also available starting from $2,495 and Four Bedroom Apartments start at $5,950.
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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