Cheap Apartments for Rent in the Spring Mill Neighborhood of Carmel, IN from $700 (57 Rentals)

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

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.

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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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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

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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Midtown Flats
Studio to 3 Bedroom Apartments

Midtown Flats

591 Monon BlvdCarmel, IN 46032
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Penn Circle
1 to 2 Bedroom Apartments

Penn Circle

12415 N Pennsylvania StCarmel, IN 46032
property at 12913 Tradd St

$1,750

Total Monthly Price

Total Monthly Price

Base Rent
$1,750
Total Monthly Price
$1,750

2 Bedroom, 2 Bath Condo for Rent

Available Now

12913 Tradd St, Unit 2A

12913 Tradd St
CarmelIN46032

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 511 Zephyr Way

$2,145

Total Monthly Price

Total Monthly Price

Base Rent
$2,145
Total Monthly Price
$2,145

3 Bedroom, 2 Bath Rentals

Available Now

511 Zephyr Way

WestfieldIN46074
property at 551 Grabill Dr

$2,195

Total Monthly Price

Total Monthly Price

Base Rent
$2,195
Total Monthly Price
$2,195

3 Bedroom, 3 Bath Rentals

Available Now

551 Grabill Dr

WestfieldIN46074

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Spring Mill, Carmel, IN Local Guide

Cheapest Available Spring Mill Apartments for Rent

 

The cheapest available apartment rental in the Spring Mill area of Indianapolis, IN is a 1 Bed unit found at Main Street on the Monon priced from $1,199. Gramercy has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,230. Here are the most affordable Spring Mill apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Main Street on the MononS1 Maple1BR,1BA$1,199
GramercyVerde (1.10A)1BR,1BA$1,230
Carmel WoodsThe Sequoia2BR,1BA$1,240
The Village on Spring MillVerdi - 1 bed 1 bath - Renovated1BR,1BA$1,352
The Union at Grand JunctionMidlandStudio,1BA$1,374
Providence at Old Meridian1B1B Jackson Sqr - Renovated1BR,1BA$1,384
Midtown FlatsBrownsburg Studio, 1 BathroomStudio,1BA$1,410
Highpointe on MeridianD2 Lincoln - 2.22BR,2BA$1,423
Park Lane Apartments7183B3 2x2 (876 sqft)2BR,2BA$1,429

Best Value Apartments for Rent in Spring Mill, IN

As of June 18, 2026 the best value apartment in the Spring Mill area is the $1.35 price per square foot 2 bedroom 2 bathroom Renovated -Marshall Model at Governor Square in the in the Spring Mill neighborhood starting from $1,655. The second greatest value Spring Mill apartment is the 7177B1 Model at Cottages at Sanders Glen starting at $1,789 with a $1.54 price per square foot in the Beacon Point neighborhood. Here is today’s list of the best values for Spring Mill apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Governor Square2 bedroom 2 bathroom Renovated -Marshall2BR,2BA$1.35
Cottages at Sanders Glen7177B12BR,1BA$1.54
Carmel WoodsThe Monterey Pine3BR,2BA$1.53
Alexandria of Carmel ApartmentsThe Congressional 2 BR 1 BA2BR,1BA$1.71
Carmel Landing Apartment Homes2-Garden2BR,2BA$1.58
Park Lane Apartments7183B1 2x1.5 (876 sqft)2BR,1.5BA$1.71
Flats at Spring Mill StationThe Harriet1BR,1BA$1.69
The Village on Spring MillPurcell - 1 bed 1 bath - Renovated1BR,1BA$1.68
124 Maple St, Unit 124124 Maple St2BR,1BA$1.59
GramercyVerde (1.10A)1BR,1BA$1.61

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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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 Lifestyle
Spring Mill, Carmel, IN

Ranked #3

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Spring Mill, Carmel, IN

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com works hard to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in metropolitan areas across the United States, including Carmel. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and proximity to parks, family-friendly amenities, 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 Mill Apartments

What is the Cheapest Studio apartment in Spring Mill?

Currently the most affordable Cheap Studio Apartment in Spring Mill is at Main Street on the Monon listed at $1,199.

How much is rent for a Cheap One Bedroom Spring Mill Apartment?

The lowest price for a Cheap One Bedroom Spring Mill Apartment is $1,144 at Main Street on the Monon.

What is the lowest price for a Cheap Two Bedroom Spring Mill Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Spring Mill is starting from $1,259 at Main Street on the Monon.

What is the most affordable Spring Mill Three Bedroom Apartment?

The best deal on a cheap Spring Mill Three Bedroom Apartment rental is at Carmel Woods and starts from $1,608.

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

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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.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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Articles, How-To's, and Tips

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.