Cheap Apartments for Rent in the Springmill Ridge Neighborhood of Carmel, IN from $1,010 (37 Rentals)

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

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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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Showing Results 1-37, Page 1 of 1

Springmill Ridge, Carmel, IN Local Guide

Cheapest Available Springmill Ridge Apartments for Rent

 

The cheapest available apartment rental in the Springmill Ridge area of Indianapolis, IN is a 1 Bed unit found at Main Street on the Monon priced from $1,144. Highpointe on Meridian has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,215. Here are the most affordable Springmill Ridge apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Main Street on the MononA2 Walnut1BR,1BA$1,144
Highpointe on MeridianU1 Bear - 1.11BR,1BA$1,215
Governor SquareDurbin - Renovated1BR,1BA$1,283
GramercyVerde (1.10A)1BR,1BA$1,294
Carmel WoodsThe Willows2BR,2BA$1,300
Lakes of CarmelOne Bedroom1BR,1BA$1,319
The Village on Spring MillVerdi - 1 bed 1 bath - Renovated1BR,1BA$1,337
Harmony Apartment HomesAndante 1.11BR,1BA$1,350
Carmel Landing Apartment Homes2-Townhome2BR,1BA$1,397
Mezz 42Fermata - 7175S1 Studio (605 sqft) A2Studio,1BA$1,399

Best Value Apartments for Rent in Springmill Ridge, IN

As of September 13, 2026 the best value apartment in the Springmill Ridge area is the $1.60 price per square foot The Raleigh Model at The Seasons of Carmel in the in the Carmel neighborhood starting from $2,156. The second greatest value Springmill Ridge apartment is the B1 Kendall Model at Old Town On The Monon starting at $2,024 with a $1.62 price per square foot in the Beacon Point neighborhood. Here is today’s list of the best values for Springmill Ridge apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Seasons of CarmelThe Raleigh2BR,2BA$1.60
Old Town On The MononB1 Kendall2BR,2BA$1.62
Park Lane Apartments7183B2 2x1.5 Townhome (1056 sqft)2BR,1.5BA$1.66
Carmel WoodsThe Monterey Pine3BR,2BA$1.45
Carmel Landing Apartment Homes2-Garden2BR,2BA$1.54
Governor SquareDurbin - Renovated1BR,1BA$1.43
The Village on Spring MillPurcell - 1 bed 1 bath - Renovated1BR,1BA$1.64
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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Best Local Schools in
Springmill Ridge, Carmel, IN

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of neighborhoods, cities, and rental properties across Indiana including Springmill Ridge, Carmel, and the greater Indianapolis area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, kid and pet-friendly communities, availability of transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Springmill Ridge Apartments

What is the price of a cheap apartment in Springmill Ridge?

The cheapest apartment in Springmill Ridge is Main Street on the Monon which is listed at $1,144, while the average apartment in Springmill Ridge costs $1,727.

What types of apartments are the cheapest in Springmill Ridge?

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 5 regular apartments in Springmill Ridge 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 Springmill Ridge?

Cheap apartments in Springmill Ridge have an average cost of $249 which is $1,478 cheaper than the average rent for all rentals in Springmill Ridge.

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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