Cheap Apartments for Rent in the Spring Mill Neighborhood of Carmel, IN from $761 (61 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

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property at 12833 Tradd St
$1,650

Total Monthly Price

Base Rent$1,650
Total Monthly Price$1,650
1 Bedroom, 1 Bath Condo for Rent
Available Oct 1
Affordability

12833 Tradd St, Unit 2C

12833 Tradd St
CarmelIN46032
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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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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included
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Midtown Flats
Studio to 3 Bedroom Apartments

Midtown Flats

591 Monon BlvdCarmel, IN 46032
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Carmel Center
1 to 3 Bedroom Apartments

Carmel Center

675 Beacon StCarmel, IN 46032

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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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 $1,189. The Union at Grand Junction has the second lowest priced unit, which is a Studio apartment currently listed from $1,198. Here are the most affordable Spring Mill apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Main Street on the MononA4 Cottonwood1BR, 1BA$1,189
The Union at Grand JunctionMidlandStudio, 1BA$1,198
Highpointe on MeridianU1 Bear - 1.11BR, 1BA$1,215
Carmel Landing Apartment Homes1-Garden1BR, 1BA$1,230
Governor SquareDurbin - Renovated1BR, 1BA$1,274
GramercyVerde (1.10A)1BR, 1BA$1,295
Lakes of CarmelOne Bedroom1BR, 1BA$1,319
The Village on Spring MillVerdi - 1 bed 1 bath - Renovated1BR, 1BA$1,330
Harmony Apartment HomesAndante 1.11BR, 1BA$1,350

Best Value Apartments for Rent in Spring Mill, IN

As of September 17, 2026 the best value apartment in the Spring Mill area is the $1.46 price per square foot B1 Kendall Model at Old Town On The Monon in the Beacon Point neighborhood starting from $1,824. The second greatest value Spring Mill apartment is the The Monterey Pine Model at Carmel Woods in the Carmel neighborhood starting at $1,525 with a $1.45 price per square foot. 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.
Old Town On The MononB1 Kendall2BR, 2BA$1.46
Carmel WoodsThe Monterey Pine3BR, 2BA$1.45
Governor SquareDurbin - Renovated1BR, 1BA$1.42
Park Lane Apartments7183B3 2x2 (876 sqft)2BR, 2BA$1.71
Flats at Spring Mill StationThe Harriet1BR, 1BA$1.73
The Village on Spring MillPurcell - 1 bed 1 bath - Renovated1BR, 1BA$1.63
124 Maple St, Unit 124124 Maple St2BR, 1BA$1.59
GramercyVerde (1.10A)1BR, 1BA$1.70
Lakes of CarmelOne Bedroom1BR, 1BA$1.76
Harmony Apartment HomesAndante 1.11BR, 1BA$1.83

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 #4

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 a cheap apartment in Spring Mill?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Spring Mill is under $1,350.

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

The cheapest apartment in Spring Mill is Main Street on the Monon which is listed at $1,189, while the average apartment in Spring Mill costs $1,753.

What types of apartments are the cheapest in Spring Mill?

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 3 regular apartments in Spring Mill 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 Mill?

Cheap apartments in Spring Mill have an average cost of $213 which is $1,540 cheaper than the average rent for all rentals in Spring Mill.

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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