Cheap Apartments for Rent in the Spring Arbor Neighborhood of Carmel, IN from $500 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Spring Arbor 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
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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

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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Showing Results 1-29, Page 1 of 1

Spring Arbor, Carmel, IN Local Guide

Cheapest Available Spring Arbor Apartments for Rent

 

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

Apartment ListingModel NameBed/BathPriced From
Carlton ApartmentsVilla1BR,1BA$800
Slate Run Lofts and ApartmentsStudio-AptsStudio,1BA$800
Reflections ApartmentsExpressionsStudio,1BA$844
King's Reserve College Park 55+ Active LivingStudio KingStudio,1BA$844
Turtle CreekStudioStudio,1BA$859
LandmarkRanierStudio,1BA$900
Avia Lofts at Founders RoadStudioStudio,1BA$979
The Grove on Harcourt1x1,5 Classic1BR,1BA$979
Lakeshore Reserve Off 86th Apartments and TownhomesOne Bedroom1BR,1BA$990
The Towers at Crooked Creek Senior Housing1BD1BR,1BA$1,008

Best Value Apartments for Rent in Spring Arbor, IN

As of February 02, 2026 the best value apartment in the Spring Arbor area is the $1.07 price per square foot The Newburgh Model at Private Reserve Townhomes in the in the Spring Arbor neighborhood starting from $1,379. The second greatest value Spring Arbor apartment is the 2 Bed/1 Ba w/FP-Up Model at North Willow starting at $1,494 with a $1.30 price per square foot in the Spring Arbor neighborhood. Here is today’s list of the best values for Spring Arbor apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
North Willow2 Bed/1 Ba w/FP-Up2BR,1BA$1.30
Willow Lake ApartmentsKeystone1BR,1BA$1.38
The Grove on 79th1x1,5 Townhome Renovated1BR,1.5BA$1.20
Westbury CourtTwo Bedroom One Bathroom (CN1)2BR,1BA$1.07
Chelsea VillageTwo Bedroom Apartment2BR,1BA$1.47
The Grove on Harcourt1x1,5 Renovated1BR,1.5BA$1.21
The Eclipse Apartment HomesThe Phoenix - Renovated1BR,1.5BA$1.44
The Elliott at College Park Apartment HomesOne Bedroom1BR,1BA$1.43
Lakeshore Reserve Off 86th Apartments and TownhomesOne Bedroom1BR,1BA$1.47

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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Best Local Schools in
Spring Arbor, Carmel, IN

School data provided by Great Schools

Lifestyle Ratings

Our team of engineers and researchers works hard to bring you Lifestyle Ratings of rentals in metropolitan areas across the United States, including Carmel. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and the best outdoor access, features that make it easier to raise kids, raising pets, transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Spring Arbor Apartments

What is a cheap apartment in Spring Arbor?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Spring Arbor is under $1,008.

What is the price of a cheap apartment in Spring Arbor?

The cheapest apartment in Spring Arbor is Carlton Apartments which is listed at $800, while the average apartment in Spring Arbor costs $1,869.

What types of apartments are the cheapest in Spring Arbor?

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 41 regular apartments in Spring Arbor 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 Spring Arbor?

Cheap apartments in Spring Arbor have an average cost of $283 which is $1,586 cheaper than the average rent for all rentals in Spring Arbor.

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

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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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.