Cheap Apartments for Rent in the Shelborne Green Neighborhood of Carmel, IN from $500 (26 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Shelborne Green area of Carmel.

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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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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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268

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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Slate Run Lofts
Studio to 2 Bedroom Apartments

Slate Run Lofts

9555 International DrIndianapolis, IN 46268
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The Jameson
1 to 2 Bedroom Apartments

The Jameson

1854 Century WayIndianapolis, IN 46260
Showing Results 1-26, Page 1 of 1

Shelborne Green, Carmel, IN Local Guide

Cheapest Available Shelborne Green Apartments for Rent

 

The cheapest available apartment rental in the Shelborne Green area of Indianapolis, IN is a Studio unit found at Slate Run Lofts and Apartments priced from $800. Carlton Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $840. Here are the most affordable Shelborne Green apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Slate Run Lofts and ApartmentsStudio-AptsStudio,1BA$800
Carlton ApartmentsCottage1BR,1BA$840
Reflections ApartmentsReplicaStudio,1BA$844
Turtle CreekStudioStudio,1BA$859
The Eclipse Apartment HomesThe Luna I - Classic1BR,1BA$879
The Grove on Harcourt1x1,5 Classic1BR,1BA$979
The Towers at Crooked Creek Senior Housing1BD1BR,1BA$1,008
Lakeshore Reserve Off 86th Apartments and TownhomesOne Bedroom1BR,1BA$1,020
The Manning Apartment HomesStudioStudio,1BA$1,059
Oak Lake at Crooked CreekCanopy1BR,1BA$1,062

Best Value Apartments for Rent in Shelborne Green, IN

As of December 29, 2025 the best value apartment in the Shelborne Green area is the $1.38 price per square foot Keystone Model at Willow Lake Apartments in the in the Spring Arbor neighborhood starting from $1,510. The second greatest value Shelborne Green apartment is the Two Bedroom Townhome Model at Chelsea Village starting at $1,579 with a $1.58 price per square foot in the Spring Arbor neighborhood. Here is today’s list of the best values for Shelborne Green apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Willow Lake ApartmentsKeystone1BR,1BA$1.38
Chelsea VillageTwo Bedroom Townhome2BR,1.5BA$1.58
The Grove on 79th1x1,5 Townhome Renovated1BR,1.5BA$1.20
The Retreat Northwest1 Bedroom 1.5 Bathroom 942 Sq. Ft.1BR,1.5BA$1.15
The Grove on Harcourt1x1,5 Large Renovated1BR,1.5BA$1.14
The Eclipse Apartment HomesThe Phoenix - Renovated1BR,1.5BA$1.42
The Elliott at College Park Apartment HomesOne Bedroom1BR,1BA$1.40
The JamesonBarker1BR,1BA$1.59
Summerwood on Towne Line ApartmentsPoplar1BR,1BA$1.61
Lakeshore Reserve Off 86th Apartments and TownhomesOne Bedroom1BR,1BA$1.52

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.

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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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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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Pet Friendly Lifestyle
Shelborne Green, Carmel, IN

Ranked #9

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you Lifestyle Ratings of rentals and neighborhoods across the USA, including Carmel. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, pet-friendly features, family-friendliness, proximity to transit, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Shelborne Green Apartments

What is a cheap apartment in Shelborne Green?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Shelborne Green is under $1,062.

What is the price of a cheap apartment in Shelborne Green?

The cheapest apartment in Shelborne Green is Carlton Apartments which is listed at $840, while the average apartment in Shelborne Green costs $2,399.

What types of apartments are the cheapest in Shelborne Green?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 49 regular apartments in Shelborne Green that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Shelborne Green?

Cheap apartments in Shelborne Green have an average cost of $386 which is $2,013 cheaper than the average rent for all rentals in Shelborne Green.

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.

Helpful Local Expert Guides

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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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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

Articles, How-To's, and Tips

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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!