Cheap 2 Bedroom Apartments for Rent in Indianapolis, IN from $545 (542 Rentals) Page 4 of 11

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Garden Pointe Apartments
Rent Specials
$1,150 - $1,330
Total Monthly Price

Total Monthly Price

Base Rent
$766 - $1,246
Required Monthly Fees
$84
Total Monthly Price
$850 - $1,330
2 Bedroom Apartments Available Now

Garden Pointe Apartments

5005 Lily LnIndianapolis, IN 46254
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Avery Point Apartments
$1,183 - $2,914
Total Monthly Price

Total Monthly Price

Base Rent
$977 - $2,871
Required Monthly Fees
$43
Total Monthly Price
$1,020 - $2,914
2 Bedroom Apartments Available Now

Avery Point Apartments

8525 Laurel Valley DrIndianapolis, IN 46250
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Lake Castleton Apartments
Rent Specials
$1,194 - $1,654
Total Monthly Price

Total Monthly Price

Base Rent
$868 - $1,542
Required Monthly Fees
$112
Total Monthly Price
$980 - $1,654
2 Bedroom Apartments Available Now

Lake Castleton Apartments

7601 Carlton Arms DrIndianapolis, IN 46256
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Creek Bay
$1,195 - $1,455
Total Monthly Price

Total Monthly Price

Base Rent
$956 - $1,362
Required Monthly Fees
$93
Total Monthly Price
$1,049 - $1,455
2 Bedroom Apartments Available Now

Creek Bay

6650 Creek Bay DrIndianapolis, IN 46217
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Eagle’s Edge
Rent Specials
$1,200 - $1,350
Total Monthly Price

Total Monthly Price

Base Rent
$985 - $1,685
Required Monthly Fees
$15
Total Monthly Price
$1,000 - $1,700
2 Bedroom Apartments Available Now

Eagle’s Edge

4301 Falcon Creek BlvdIndianapolis, IN 46254
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Chateau in the Woods
$1,212 - $1,343
Total Monthly Price

Total Monthly Price

Base Rent
$950 - $1,532
Required Monthly Fees
$49
Total Monthly Price
$999 - $1,581
2 Bedroom Apartments Available Now

Chateau in the Woods

4020 Monaco DrIndianapolis, IN 46220
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M Club Apartments
$1,221 - $2,159
Total Monthly Price

Total Monthly Price

Base Rent
$871 - $2,149
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Varies
Total Monthly Price
Varies
2 Bedroom Apartments Available Now

M Club Apartments

7007 Courthouse DrIndianapolis, IN 46226
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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 $655.

What is the price of a cheap apartment in Indianapolis?

The cheapest apartment in Indianapolis is Postbrook East Apartments which is listed at $485, while the average apartment in Indianapolis costs $2,862.

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 10,456 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 $389 which is $2,473 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

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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

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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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.

Articles, How-To's, and Tips

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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

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

Written by: Bob Mallory

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.