Cheap Homes for Rent in Shadow Lakes Neighborhood of Carmel, IN from $1,700 (24 Rentals)

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Search the lowest-cost Homes available for rent right now in the Shadow Lakes area of Carmel.

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Shadow Lakes, Carmel, IN Local Guide

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 Carmel Landing Apartment Homes priced from $1,122. Harmony Apartment Homes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,124. Here are the most affordable Shadow Lakes apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Carmel Landing Apartment Homes1-Garden1BR,1BA$1,122
Harmony Apartment HomesBass A 1.11BR,1BA$1,124
Providence at Old Meridian1B1B New Yorker - Renovated1BR,1BA$1,182
MAIN STREETThe Walnut1BR,1BA$1,189
The Village on Spring MillVerdi - 1 bed 1 bath - Renovated1BR,1BA$1,197

Best Value Apartments for Rent in Shadow Lakes, IN

As of September 08, 2025 the best value apartment in the Shadow Lakes area is the $1.58 price per square foot Capewood Model at Redwood Noblesville Webster Drive in the in the Beacon Point neighborhood starting from $2,558. The second greatest value Shadow Lakes apartment is the Two Bedroom Study Model at Lakes of Carmel starting at $1,737 with a $1.31 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Redwood Noblesville Webster DriveCapewood2BR,2BA$1.58
Lakes of CarmelTwo Bedroom Study2BR,2BA$1.31
Penn CircleB32BR,2BA$1.53
Park Lane Apartments2 BDRM TOWNHOME LIVING w/ ENCLOSED PATIO ON MAI...2BR,1.5BA$1.51
Pebble Brook VillageBay Hill2BR,1BA$1.50
Flats at Spring Mill StationThe Harriet1BR,1BA$1.61
OLD TOWN ON THE MONONFoster1BR,1BA$1.62
The Village on Spring MillVerdi - 1 bed 1 bath - Renovated1BR,1BA$1.46
Carmel WoodsThe Cypress1BR,1BA$1.54
GramercyVerde (1.10 A)1BR,1BA$1.65

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Shadow Lakes, Carmel, IN

Ranked #2

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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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 56 Apartments for Rent in Shadow Lakes, IN with pricing that ranges from $1,100 to $4,466. There are also 73 Single Family Homes for rent, Condos, and Townhome rentals currently available in Shadow Lakes ranging from $1,795 to $4,500.

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 $1,795 to $4,500 with an average monthly rent of $3,009.

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.

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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.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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.