
3 Bedroom Apartments for Rent in Indianapolis, IN Under $1,500 (153 Rentals) Page 2 of 4


16 Park Apartments

City Heights

Sherman Village

Jade North Apartments

Crosswinds

Total Monthly Price
246 N Beville Ave, Unit 1

1602 Quill St, Unit B

856 River Ave

747 N Elder Ave
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

1136-1138 Fairfield Ave

6740 Morgan St

1602 S Butler Ave

1613 Lawton Ave

1232 Cameron St

1332 W Lee St

8124 E 37th Pl

1524 N Chester Ave

1534 Bacon St

44 S Ewing St
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

958 N Tuxedo St

3106 N College Ave

1706 E Tabor St

916-918 Fairfield Ave

28 S Dearborn St

7015 Wadsworth Way

2422 Coyner Ave

1602 Quill St

1527 Prospect St

512 S State Ave
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.

1353 N Olney St

1354 Oliver Ave

335 S Oakland Ave

933-935 N Dearborn St

861 N Drexel Ave

2018 Rembrandt St

508-508 Emerson Ave

5033-5035 E New York St

354 S Biltmore Ave

2356 N Arsenal Ave
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.

1206 N Concord St

Mayfield Green Cooperative

Maplewood

Addison Creek

Deerfield Acres

Brownstone Apartments

Red Maple Grove

Pinewood Village Apartments

Rosedale Hills

Cavalier Court
Check Out Indianapolis’s Best Affordable Neighborhoods
Learn about Indianapolis and the best places to live with original content written by our Local Expert Wendy Melton
Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Indianapolis Studio Apartments | $1,228 | $556 | $6,226 |
| Indianapolis 1 Bedroom Apartments | $1,383 | $544 | $3,999 |
| Indianapolis 2 Bedroom Apartments | $1,675 | $650 | $9,351 |
| Indianapolis 3 Bedroom Apartments | $2,024 | $799 | $9,764 |
| Indianapolis 4 Bedroom Apartments | $1,978 | $600 | $9,521 |
| Indianapolis 5 Bedroom Apartments | $5,857 | $950 | $10,000+ |
Explore Indianapolis
Indianapolis, IN Area Reviews
Wendy • 3+ years in Indianapolis
August 10, 2025One of Indiana's most beautiful cities!
Frequently Asked Questions about 3 Bedroom Indianapolis Apartments
What is the Cheapest apartment in Indianapolis with 3 Bedroom?
Currently the most affordable 3 Bedroom in Indianapolis is at Maison Gardens Apartments listed at $870.
How much is the average rent for a 3 Bedroom Indianapolis Apartment?
The average rent for a 3 Bedroom Apartment in Indianapolis is $2,024.
What is the largest available 3 Bedroom Indianapolis Apartment for rent?
Today's apartment with the most square footage in Indianapolis is a 2,645 square feet unit starting from $1,879 at The Residences on 56th.
What is the average size for Indianapolis 3 Bedroom Apartments for rent?
The average size for a 3 Bedroom rental in Indianapolis is currently 1,577 sq ft.
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

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.

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.

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.

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

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
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.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
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.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.