
Cheap Apartments for Rent in Indianapolis, IN from $300 (654 Rentals)
Search the lowest-cost Apartments available for rent right now in Indianapolis.


6702 Georgetown Rd

3535 Robson St

Meridian Towers

St. Agnes Apartments
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.

Country Club Apartments

Dunbar Court

2721 N Keystone Ave

1702W W Michigan St

The Aerie on 11th Street

24 N Linwood Ave

Indy Town Apartments

Eagle Creek Court

Serenity Manor 55+ Independent Senior Living

Vineyards Apartments

Fields Apartments

Hills Apartments
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.

Berkley Commons

Willowood East

Rosewood Commons

Westbury Court

The Pines at SoBro

Marabou Mills

5700 Madison Apartments & Edgewood on Madison

Autumn Trails Apartments
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.

608 N Dearborn St

3725 E Vermont St

Ashgrove Apartments

Woods at Oak Crossing

Wylde at Eagle Creek

Pinnacle West

Riverside Apartments

The Boardwalk at Westlake Apartments and Townhomes

Serenity Park Apartments

Cedars Apartments
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

The Meridian North and South

7051 E 11th St

Scarborough Lake Apartments

Abbey Apartments - Affordable Senior Housing

Olivewood

Darby Court

3003 N Webster Ave

712-712 N Bosart Ave

Meadows Apartments
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

King's Reserve College Park - 55+ Senior
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 | $1,259 | $595 | $5,274 |
Cheap Indianapolis 1 Bedroom Apartments | $1,402 | $597 | $4,339 |
Cheap Indianapolis 2 Bedroom Apartments | $1,680 | $695 | $8,242 |
Cheap Indianapolis 3 Bedroom Apartments | $2,045 | $1,015 | $10,000+ |
Cheap Indianapolis 4 Bedroom Apartments | $1,608 | $550 | $4,907 |
Browse Top Apartments in Indianapolis
See all Apartments in IndianapolisExplore Indianapolis

Indianapolis, IN Local Guide

- Indianapolis Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Indianapolis, IN
Pricing Updated: 07/30/2025Current apartment rentals in the Indianapolis, IN area range in price from $550 to $11,670 with an overall median price of $2,259. The three Indianapolis neighborhoods with the lowest median rent pricing are Irvington at $700, Garfield Park South at $649, and Carson Heights at $649. 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 |
---|---|---|---|
Irvington | $1,110 | $700 | 18 |
Garfield Park South | $1,299 | $649 | 18 |
Carson Heights | $1,303 | $649 | 114 |
University Heights | $1,303 | $649 | 115 |
Edgewood | $1,307 | $740 | 163 |
Park 100 | $1,307 | $726 | 106 |
North Perry | $1,332 | $649 | 57 |
Thompson-Edgewood | $1,332 | $740 | 142 |
Keystone-Monon | $1,350 | $739 | 39 |
Shelby Street-Epler Avenue | $1,357 | $649 | 180 |
Cheapest Available Indianapolis Apartments for Rent
 The cheapest available apartment rental in Indianapolis, IN is a 1 Bed unit found at Harpers Crossing in the The Settlement - Designer neighborhood priced from $438. 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 |
---|---|---|---|
Harpers Crossing | 1 bdr | 1BR,1BA | $438 |
East Village at Avondale Meadows Apartments | B3 | 2BR,2BA | $579 |
The Stratford | Studio | Studio,1BA | $610 |
Meridian Towers | Studio Apartment | Studio,1BA | $629 |
Country Club Apartments | Studio | Studio,1BA | $649 |
Glenstone Studios | Studio | Studio,1BA | $649 |
Parkway | 1 Bedroom | 1BR,1BA | $699 |
The Aerie on 11th Street | 6260 East 11th Street - Apt 302 | 2BR,1BA | $700 |
Indy Town Apartments | Arlington Green 1 bedroom | 1BR,1BA | $713 |
Serenity Manor 55+ Independent Senior Living | Studio | Studio,1BA | $715 |
Best Value Apartments for Rent in Indianapolis, IN
As of July 30, 2025 the best value apartment in the Indianapolis area is the $0.93 price per square foot 7176B1 Model at Pinnacle on Meridian in the in the Nora neighborhood starting from $2,049. The second greatest value Indianapolis apartment is the Two Bedroom One Bathroom Model at Mariners Village starting at $1,113 with a $0.93 price per square foot in the Timberview 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. |
---|---|---|---|
Pinnacle on Meridian | 7176B1 | 2BR,2BA | $0.93 |
Mariners Village | Two Bedroom One Bathroom | 2BR,1BA | $0.93 |
Glen Ridge Manor Townhomes and Flats | Glen Ridge 2 Bedroom Townhome | 2BR,1BA | $0.81 |
Estates at Crystal Bay | Three Bedroom 1.5 Bath Townhouse 1150 sq ft | 3BR,1.5BA | $0.88 |
Scandia Apartments | Landsting | 2BR,2BA | $1.03 |
Brookhaven Apartments | 1 Bed 1 Bath | 1BR,1BA | $0.86 |
Hopeside I | 2.2-50% | 2BR,2BA | $0.81 |
Villa Del Sol Apartments | Spacious one bed one bathroom apartment | 1BR,1BA | $1.04 |
The Aerie on 11th Street | 6240 East 11th Street - Apt 202 | 2BR,1BA | $0.82 |
The Star | 1 Bed | 1BR,1BA | $0.91 |
Quick Rent Budget Calculator
How much rent can you afford?
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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:
Pet Friendly LifestyleIndianapolis, IN
Ranked #1
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
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
Getting Around Indianapolis, IN
Walk Score®
50 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
53 / 100
Bikeable
Some bike infrastructure
Transit Score®
29 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $715.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is Harpers Crossing which is listed at $438, while the average apartment in Indianapolis costs $2,259.
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 3,459 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 $387 which is $1,872 cheaper than the average rent for all rentals in Indianapolis.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

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.

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.