Cheap 2 Bedroom Apartments for Rent in Indianapolis, IN from $513 (588 Rentals) Page 3 of 12

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Horizons Apartments
$1,075 - $1,105

Total Monthly Price

Base Rent$925 - $1,345
Total Monthly Price$925 - $1,345
2 Bedroom Apartments Available Now

Horizons Apartments

4955 Red Horizon BlvdIndianapolis, IN 46221
Affordability
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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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One Somerset
$1,099

Total Monthly Price

Base Rent$899 - $1,099
Total Monthly PriceVaries
2 Bedroom Apartments Available Now

One Somerset

3761 S State AveIndianapolis, IN 46227
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ReNew at the Crossing
Rent Specials
$1,099 - $2,149

Total Monthly Price

Base Rent$1,099 - $2,149
Total Monthly Price$1,099 - $2,149
2 Bedroom Apartments Available Now

ReNew at the Crossing

1130 Racquet Club North DrIndianapolis, IN 46260
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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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property at 5960 42nd St
$1,100
2 Bedroom Rentals
Available Now
Affordability

5960 42nd St

IndianapolisIN46226

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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The Art of the Rental Viewing: What to look for during a property tour

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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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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Indianapolis, IN Area Reviews

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Wendy • 3+ years in Indianapolis

August 10, 2025

One of Indiana's most beautiful cities!

Frequently Asked Questions about Cheap Indianapolis Apartments

What is a cheap apartment in Indianapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Indianapolis is under $675.

What is the price of a cheap apartment in Indianapolis?

The cheapest apartment in Indianapolis is Harpers Crossing which is listed at $513, while the average apartment in Indianapolis costs $1,399.

What types of apartments are the cheapest in Indianapolis?

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 5,998 regular apartments in Indianapolis 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 Indianapolis?

Cheap apartments in Indianapolis have an average cost of $286 which is $1,113 cheaper than the average rent for all rentals in Indianapolis.

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

decorative image for Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods article

Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I am the local expert for ApartmentHomeLiving.com in the Indianapolis area. Being born and raised in Indiana, I know the true meaning of Hoosier hospitality.

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

Written by: Wendy Melton

Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

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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.

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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.

Articles, How-To's, and Tips

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.