Cheap 2 Bedroom Apartments for Rent in Indianapolis, IN from $650 (612 Rentals) Page 7 of 13

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Indy 7925
$1,392 - $1,659

Total Monthly Price

Base Rent$1,234 - $1,782
Total Monthly PriceVaries
2 Bedroom Apartments Available Now

Indy 7925

7925 Palawan DrIndianapolis, IN 46239
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9 On Canal
Rent Specials
$1,500 - $2,018

Total Monthly Price

Base Rent$1,113 - $3,518
Total Monthly Price$1,113 - $3,518
2 Bedroom Apartments Available Sep 7

9 On Canal

335 W 9th StIndianapolis, IN 46202
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Showing Results 301-350, Page 7 of 13

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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 $699.

What is the price of a cheap apartment in Indianapolis?

The cheapest apartment in Indianapolis is Central @ 29 which is listed at $655, while the average apartment in Indianapolis costs $1,390.

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 6,057 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 $296 which is $1,094 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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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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Articles, How-To's, and Tips

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

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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.

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.