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from $830Built in 20151 to 2 Bedroom Apartments Available Now
Madison Lofts
1430 Madison AveIndianapolis, IN 46225
Cheap New Apartments for Rent in Indianapolis, IN from $300 (61 Rentals)
Search the lowest-cost Apartments available for rent right now in Indianapolis.
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from $892Built in 2021Studio to 1 Bedroom Apartments Available Now
Alpine Studios
5818 Flight School DrIndianapolis, IN 46221
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from $999Built in 2018Studio to 2 Bedroom Apartments Available Now
River West Flats
1150 N White River Pkwy West DrIndianapolis, IN 46222
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from $1,000Built in 20251 to 3 Bedroom Apartments Available Now
City Heights
457 Monument View DrIndianapolis, IN 46227
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from $1,070Built in 20221 to 3 Bedroom Apartments Available Now
Union at 16th
2152 Emrich LnIndianapolis, IN 46222
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from $1,110Built in 2019Studio to 2 Bedroom Apartments Available Aug 16
Edge 35
1224 Prospect StIndianapolis, IN 46203
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from $1,125Built in 2023Studio to 2 Bedroom Apartments Available Now
Wesley Place
75 W 18th StIndianapolis, IN 46202
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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from $1,125Built in 20201 to 3 Bedroom Apartments Available Now
The Assembly
1301 E Washington StIndianapolis, IN 46202
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from $1,125Built in 2025Studio to 2 Bedroom Apartments Available Now
The Stella
1827 N Meridian StIndianapolis, IN 46202
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from $1,131Built in 20221 to 3 Bedroom Apartments Available Now
Proctor Place
240 N Warman AveIndianapolis, IN 46222
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from $1,140Built in 2017Studio to 2 Bedroom Apartments Available Aug 4
Forte Apartments
1140 Shelby StIndianapolis, IN 46203
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from $1,159Built in 20251 to 3 Bedroom Apartments Available Now
Bishop Pond Residences Apartments
6214 Long Channel LnIndianapolis, IN 46268
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from $1,175Built in 2020Studio to 2 Bedroom Apartments Available Now
Riverview
460 N White River Pkwy West DrIndianapolis, IN 46222
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from $1,195Built in 2025Studio to 2 Bedroom Apartments Available Now
The Domino
3200 Dr. Andrew J. Brown AveIndianapolis, IN 46205
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from $1,199Built in 2025Studio to 2 Bedroom Apartments Available Now
Residence on Penn
2801 S Pennsylvania StIndianapolis, IN 46225
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from $1,199Built in 2023Studio to 2 Bedroom Apartments Available Now
Gathyr Apartments
1117 E Market StIndianapolis, IN 46202
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from $1,200Built in 20171 to 3 Bedroom Apartments Available Now
946 MLK
946 Dr Martin Luther King Jr StIndianapolis, IN 46202
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from $1,205Built in 2025Studio to 2 Bedroom Apartments Available Now
Vanguard at 16 Tech
1410 Breedlove LnIndianapolis, IN 46202
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from $1,215Built in 20171 to 2 Bedroom Apartments Contact Us For Availability
2131 North
2131 N Meridian StIndianapolis, IN 46202
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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from $1,225Built in 20251 to 2 Bedroom Apartments Available Now
Iron Trail
7595 W US Highway 40Indianapolis, IN 46229
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from $1,227Built in 20151 to 3 Bedroom Apartments Available Now
Southern Dunes
7247 Vista CirIndianapolis, IN 46217
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from $1,229Built in 2023Studio to 2 Bedroom Apartments Available Now
Industry Indianapolis
421 N Pennsylvania StIndianapolis, IN 46204
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from $1,250Built in 2020Studio to 2 Bedroom Apartments Available Now
The Ripple
1430 Broad Ripple AveIndianapolis, IN 46220
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from $1,251Built in 2024Studio to 2 Bedroom Apartments Available Now
Rise on Meridian
915 S Meridian StIndianapolis, IN 46225
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from $1,289Built in 2025Studio to 3 Bedroom Apartments Available Now
Nook Nine
9433 Avant AveIndianapolis, IN 46240
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from $1,289Built in 2021Studio to 2 Bedroom Apartments Available Now
Wesmont
1515 Lewis StIndianapolis, IN 46202
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from $1,290Built in 20222 Bedroom Apartments Available Now
Wynbrooke Senior Apartments
10318 E County Road 200 NIndianapolis, IN 46234
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.
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from $1,299Built in 2020Studio to 2 Bedroom Apartments Available Now
Notch at Nora
8502 Westfield BlvdIndianapolis, IN 46240
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from $1,299Built in 20221 to 2 Bedroom Apartments Available Jul 25
Bluff Crossing Apartments
3506 Bluff RdIndianapolis, IN 46217
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Built in 20221 to 2 Bedroom Apartments
Parkside At Tarkington
3901 N Meridian StIndianapolis, IN 46208
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Built in 20181 to 2 Bedroom Apartments
Sunstone at Arlington Woods
5620 E 30th StIndianapolis, IN 46218
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Built in 20171 to 2 Bedroom Apartments
Overlook at the Fairgrounds
1720 E 38th StIndianapolis, IN 46218
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Built in 20221 to 2 Bedroom Apartments
The Reserve at White River
2774 Pixel RdIndianapolis, IN 46222
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Built in 2019Studio to 2 Bedroom Apartments
Slate Run Lofts
9555 International DrIndianapolis, IN 46268
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Built in 20151 to 2 Bedroom Apartments
The Retreat On Washington
2950 Kirkbride WayIndianapolis, IN 46222
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Built in 2019Studio Apartments
Morton School Senior Apartments
2101 N College AveIndianapolis, IN 46202
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.
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Built in 20161 Bedroom Apartments
Illinois Street Senior Apartments
1352 N Illinois StIndianapolis, IN 46202
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Built in 2017Studio to 2 Bedroom Apartments
The Congress at Library Square
923 N Meridian StIndianapolis, IN 46204
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Built in 2016Studio to 4 Bedroom Apartments
632 MLK Apartments
632 Dr Martin Luther King Jr StIndianapolis, IN 46202
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from $1,090Built in 20211 to 2 Bedroom Apartments Available Now
The Barlow
234 E Main StPlainfield, IN 46168
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from $1,140Built in 20151 to 3 Bedroom Apartments Available Now
LaCabreah Apartments
7130 LaCabreah DrBrownsburg, IN 46112
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from $1,164Built in 20151 to 3 Bedroom Apartments Available Now
Residences on Ronald Reagan
10531 Kings Row DrAvon, IN 46123
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from $1,179Built in 2023Studio to 2 Bedroom Apartments Available Now
The Madison at Greenwood
523 S Madison AveGreenwood, IN 46142
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from $1,250Built in 2018Studio to 2 Bedroom Apartments Available Now
The Arbuckle
7249 Arbuckle CommonsBrownsburg, IN 46112
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
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from $1,251Built in 20171 to 3 Bedroom Apartments Available Now
Regency Preserve
1971 Carlton BlvdAvon, IN 46123
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 | $1,263 | $595 | $5,274 |
| Indianapolis 1 Bedroom Apartments | $1,418 | $597 | $4,845 |
| Indianapolis 2 Bedroom Apartments | $1,697 | $695 | $8,343 |
| Indianapolis 3 Bedroom Apartments | $2,092 | $1,015 | $10,000+ |
| Indianapolis 4 Bedroom Apartments | $1,700 | $550 | $5,211 |
Explore Indianapolis
Indianapolis, IN Local Guide
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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.
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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 $699.
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 $2,345.
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 3,357 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 $385 which is $1,960 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.
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.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.