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$497 - $1,4501 to 2 Bedroom Apartments Available Now
1010 Central
1010 Central AveIndianapolis, IN 46202
Cheap Apartments for Rent in Indianapolis, IN from $300 (813 Rentals)
Search the lowest-cost Apartments available for rent right now in Indianapolis.
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$539 - $1,3961 to 2 Bedroom Apartments Available Now
Minnie Hartman
3734 E Vermont StIndianapolis, IN 46201
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$563 - $1,3112 Bedroom Apartments Available Now
Line Lofts
1145 E Washington StIndianapolis, IN 46202
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$595 - $930
Total Monthly Price
Studio to 2 Bedroom Apartments Contact Us For AvailabilityTotal Monthly Price
Base Rent
$595 - $930
Total Monthly Price
$595 - $930
The Sheldrake Apartments
2258 N Meridian StIndianapolis, IN 46208
6702 Georgetown Rd
IndianapolisIN46268
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$620 - $1,350Studio to 3 Bedroom Apartments Available Now
The Stratford
3201 Watergate RdIndianapolis, IN 46224
6124 Hillside Ave
IndianapolisIN46220
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$629 - $949Studio to 2 Bedroom Apartments Available Now
Meridian Towers
3710 N Meridian StIndianapolis, IN 46208
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$649
Total Monthly Price
Studio Apartments Available NowTotal Monthly Price
Base Rent
$597
Required Monthly Fees
$52
Total Monthly Price
$649
Glenstone Studios
2215 E 56th StIndianapolis, IN 46220
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$649 - $875Studio to 1 Bedroom Apartments Available Now
Volrath
118 Palmer StIndianapolis, IN 46225
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.
3610 Balsam Ave
IndianapolisIN46205
3609 Balsam Ave
IndianapolisIN46205
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$655 - $935Studio to 2 Bedroom Apartments Available Now
INDY FLATS
1304 N Delaware StIndianapolis, IN 46202
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$665 - $925
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Studio to 1 Bedroom Apartments Contact Us For AvailabilityTotal Monthly Price
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$665 - $925
Total Monthly Price
$665 - $925
Dunbar Court
1022 Dr Martin Luther King StIndianapolis, IN 46202
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$669Studio Apartments Available Now
2932 N Dearborn St
2932 N Dearborn StIndianapolis, IN 46218
25 S Emerson Ave
IndianapolisIN46219
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$699 - $975Studio to 3 Bedroom Apartments Available Now
Cambridge Commons
4959 Oakhurst DrIndianapolis, IN 46254
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$699 - $1,639Studio to 2 Bedroom Apartments Available Now
King's Reserve College Park 55+ Active Living
8810 Colby BlvdIndianapolis, IN 46268
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$700 - $1,800Studio to 4 Bedroom Apartments Available Now
Maple Creek Village
3800 W Michigan StIndianapolis, IN 46222
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$709 - $1,025Studio to 2 Bedroom Apartments Available Now
Rosewood Commons
5549 Rosewood Commons DrIndianapolis, IN 46254
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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$715 - $1,420Studio to 2 Bedroom Apartments Available Now
5700 Madison Apartments & Edgewood on Madison
5757 Madison AveIndianapolis, IN 46227
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$715 - $1,150Studio to 2 Bedroom Apartments Available Now
Serenity Manor 55+ Independent Active Living
1123 N Edmondson AveIndianapolis, IN 46219
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$720 - $2,960Studio to 3 Bedroom Apartments Available Now
The Boardwalk at Westlake Apartments and Townhomes
6000 Westlake DrIndianapolis, IN 46224
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$724 - $1,339Studio to 3 Bedroom Apartments Available Now
The Meridian North and South
2085 Waterford PlIndianapolis, IN 46260
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$725 - $1,700Studio to 3 Bedroom Apartments Available Now
Spanish Oaks
3645 Wingate CtIndianapolis, IN 46235
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$725Studio Apartments Available Now
Franklin Studios
4985 N Franklin RdIndianapolis, IN 46226
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$725 - $885Studio to 2 Bedroom Apartments Available May 15
Maple Court Apartments - Where City Convenience Meets Neighborhood Charm!
3524-3538 N Pennsylvania StIndianapolis, IN 46205
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$725 - $879Studio Apartments Available Now
34 North Apartments
3402 N Meridian StIndianapolis, IN 46208
1133 N Olney St
IndianapolisIN46201
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$725 - $2,390
Total Monthly Price
Studio to 2 Bedroom Apartments Available Mar 20Total Monthly Price
Base Rent
$712 - $2,377
Required Monthly Fees
$13
Total Monthly Price
$725 - $2,390
Dogwood Glen
2390 Woodglen DrIndianapolis, IN 46260
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.
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$729 - $1,359Studio to 2 Bedroom Apartments Available Now
The Hub at Nora
9000 N College AveIndianapolis, IN 46240
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$740 - $1,195Studio to 2 Bedroom Apartments Available Now
Marabou Mills
3402 Marabou Mills DrIndianapolis, IN 46214
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$741 - $1,312Studio to 2 Bedroom Apartments Available Now
Mariners Village Apartments
7135 Islander DrIndianapolis, IN 46214
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$7481 Bedroom Apartments Available Now
3725 N Sherman Dr
3725 N Sherman DrIndianapolis, IN 46218
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$749 - $999Studio to 2 Bedroom Apartments Available Now
Autumn Trails Apartments
7975 Red Mill DrIndianapolis, IN 46226
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$750 - $1,025Studio to 2 Bedroom Apartments Contact Us For Availability
Ashgrove Apartments
1211 Ginger CtIndianapolis, IN 46241
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$752 - $1,3401 to 2 Bedroom Apartments Available Now
Indy Town Apartments
6046 E 21st StIndianapolis, IN 46219
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$759 - $1,529
Total Monthly Price
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$595 - $1,365
Required Monthly Fees
$164
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$759 - $1,529
Pinnacle West
230 Welcome Way BlvdIndianapolis, IN 46214
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$765 - $789Studio Apartments Available Now
St. Agnes Apartments
1350 N Meridian StIndianapolis, IN 46202
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$765 - $1,380
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$681 - $1,296
Required Monthly Fees
$84
Total Monthly Price
$765 - $1,380
Garden Pointe Apartments
5005 Lily LnIndianapolis, IN 46254
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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$767 - $1,3061 to 2 Bedroom Apartments Available Jun 10
Eagle Creek Court
2148 Augusta Dr EIndianapolis, IN 46224
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$769 - $1,4251 to 3 Bedroom Apartments Available Now
Serenity Park Apartments
9060 E 39th PlIndianapolis, IN 46235
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$769 - $1,120Studio to 2 Bedroom Apartments Available Now
Sherbrook
8026 McFarland CtIndianapolis, IN 46227
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$775 - $8252 Bedroom Apartments Available Mar 13
The Aerie on 11th Street
6240 E 11th StIndianapolis, IN 46219
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$775 - $2,225
Total Monthly Price
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$747 - $2,197
Required Monthly Fees
$28
Total Monthly Price
$775 - $2,225
Elmtree Park
11023 Elmtree Park DrIndianapolis, IN 46229
3534 E Fall Creek Pkwy N Dr
IndianapolisIN46205
2238-2240 Barnor Dr
IndianapolisIN46219
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$775 - $9951 to 2 Bedroom Apartments Available Now
One Somerset
3761 S State AveIndianapolis, IN 46227
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$7781 Bedroom Apartments Available Now
Abbey Apartments - Affordable Senior Housing
4012 S Mann RdIndianapolis, IN 46221
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$779 - $1,224Studio to 2 Bedroom Apartments Available Now
Stonehenge
7980 Dunston DrIndianapolis, IN 46239
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.
Indianapolis, IN Local Guide
How much does it cost to rent an apartment in Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Indianapolis Studio Apartments | $1,161 | $595 | $5,203 |
| Cheap Indianapolis 1 Bedroom Apartments | $1,377 | $497 | $4,895 |
| Cheap Indianapolis 2 Bedroom Apartments | $1,634 | $563 | $6,227 |
| Cheap Indianapolis 3 Bedroom Apartments | $2,043 | $950 | $9,966 |
| Cheap Indianapolis 4 Bedroom Apartments | $1,979 | $600 | $10,000+ |
| Indianapolis 5 Bedroom Apartments | $7,478 | $1,000 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in Indianapolis
See all Apartments in IndianapolisExplore Indianapolis
Indianapolis, IN Local Guide
Written By:
Justin HabersaatEditing Staff
- Indianapolis Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Indianapolis, IN
Pricing Updated: 03/02/2026Current apartment rentals in the Indianapolis, IN area range in price from $497 to $17,010 with an overall median price of $2,691. The three Indianapolis neighborhoods with the lowest median rent pricing are Keystone-Monon at $775, Canterbury Chatard at $625, and New Augusta at $597. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Indianapolis Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Keystone-Monon | $1,229 | $775 | 57 |
| Canterbury Chatard | $1,249 | $625 | 45 |
| New Augusta | $1,339 | $597 | 302 |
| St Vincent Greenbriar | $1,359 | $699 | 347 |
| Wellington Park Heights | $1,364 | $625 | 367 |
| Marian Cold Springs | $1,379 | $595 | 463 |
| Northwest Indianapolis | $1,379 | $600 | 250 |
| Arden | $1,399 | $649 | 541 |
| Carson Heights | $1,405 | $775 | 164 |
| Spring Mill Heights | $1,405 | $724 | 389 |
Cheapest Available Indianapolis Apartments for Rent
The cheapest available apartment rental in Indianapolis, IN is a Studio unit found at D&T Nest in the Southeast Indianapolis neighborhood priced from $575. East Village at Avondale Meadows Apartments in the Martindale neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $579. Here is today’s list of the most affordable Indianapolis apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| D&T Nest | 0 Bedroom 1 Bath - 23033 | Studio,1BA | $575 |
| East Village at Avondale Meadows Apartments | B3 | 2BR,2BA | $579 |
| The Stratford | Studio | Studio,1BA | $620 |
| Meridian Towers | Studio Apartment | Studio,1BA | $629 |
| Glenstone Studios | Studio | Studio,1BA | $649 |
| Volrath | **Free Month of Rent ** 128 E Palmer St - Studio | 1BR,1BA | $649 |
| INDY FLATS | Sherwood Std D | Studio,1BA | $655 |
| Cambridge Commons | Studio | Studio,1BA | $699 |
| King's Reserve College Park 55+ Active Living | Studio King | Studio,1BA | $699 |
| Oxmoor Indy | 1BR/1.0BA | 1BR,1BA | $699 |
Best Value Apartments for Rent in Indianapolis, IN
As of March 02, 2026 the best value apartment in the Indianapolis area is the $0.97 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,750. The second greatest value Indianapolis apartment is the 2322 Guilford Ave Model at 2322 Guilford Ave, Unit A starting at $1,250 with a $0.83 price per square foot in the Martindale neighborhood. Here is today’s list of the best values for Indianapolis apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Shoemaker Building | loft | 2BR,2BA | $0.97 |
| 2322 Guilford Ave, Unit A | 2322 Guilford Ave | 3BR,1BA | $0.83 |
| Brookhaven Apartments | 2 Bed 1 Bath | 2BR,1BA | $0.91 |
| Pebble Point | Haven | 2BR,1.5BA | $0.97 |
| Estates at Crystal Bay | Three Bedroom 1.5 Bath Townhouse 1150 sq ft | 3BR,1.5BA | $1.00 |
| The Star | 2 Bed | 2BR,1BA | $0.76 |
| 60 - ADDISON APARTMENTS | 2nd Floor Standard + W/D Hookups | 2BR,1BA | $0.95 |
| Canal Gardens | 2.1 40% | 2BR,1BA | $0.93 |
| Frederick Square | Frederick Square 2 bedroom | 2BR,1BA | $1.00 |
| Oxmoor Indy | 1BR/1.0BA | 1BR,1BA | $1.00 |
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.
Read Article
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
Read ArticleYour Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Indianapolis Overview
Indiana’s capital, Indianapolis, is the state’s largest city and it ranks 13th in the country for size. It sits near the convergence of the White River and Fall Creek. Recently, Forbes ranked Indianapolis as having one of the best downtowns in the country because of its appealing appearance as well as amenities like movie theaters, museums, art galleries, parks, retail shops and entertainment. Indianapolis has experienced moderate growth in the last few years, and currently has a population of nearly 840,000 residents.
Why live in Indianapolis, IN?
In Indianapolis, if you are a sports fan, you are in luck. The city boasts many sports-related venues and activities. There is a lot to do if you love history, art, and the outdoors as well (in the warmer months, of course!). Here are some of the highlights the city has to offer:
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Indianapolis, IN Rentals by Map
See the most popular apartments and homes in Indianapolis, IN
Indianapolis, IN Area Reviews
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Wendy • 3+ years in Indianapolis
August 10, 2025One 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 Volrath which is listed at $649, while the average apartment in Indianapolis costs $2,691.
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 9,424 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 $363 which is $2,328 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
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.
Articles, How-To's, and Tips
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.
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.
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.
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.