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$1,078 - $4,466Built in 2025Studio to 3 Bedroom Apartments Available Now
The Wren & The Windsor
750 Veterans WayCarmel, IN 46032
Cheap New Apartments for Rent in Indianapolis, IN from $300 (73 Rentals) Page 2 of 2
Search the lowest-cost Apartments available for rent right now in Indianapolis.
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$1,115 - $3,234Built in 2021Studio to 3 Bedroom Apartments Available Aug 20
The Kent at Carmel City Center
301 American Way NCarmel, IN 46032
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$1,199 - $1,350Built in 20241 to 2 Bedroom Apartments Available Now
Grace Lane Apartments
42 Manor DrGreenfield, IN 46140
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$1,215 - $2,099
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Built in 20251 to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,215 - $2,099
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BroadAcre Apartments of McCordsville
5871 BroadAcre DrMcCordsville, IN 46055
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$1,237 - $2,037Built in 2023Studio to 2 Bedroom Apartments Available Now
Madison at Greenwood
523 S Madison AveGreenwood, IN 46142
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$1,245 - $1,994Built in 20241 to 2 Bedroom Apartments Available Now
Vita Senior Apartments
535 Country Gate DrNew Whiteland, IN 46184
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$1,266 - $9,205Built in 2023Studio to 3 Bedroom Apartments Available Now
Lavina
7520 Alluvium StNoblesville, IN 46062
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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$1,270 - $1,910Built in 20161 to 2 Bedroom Apartments Available Now
Flats at Switch
9 Municipal DrFishers, IN 46038
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$1,275 - $1,759Built in 20171 to 3 Bedroom Apartments Available Now
Regency Preserve
1971 Carlton BlvdAvon, IN 46123
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$1,287 - $3,618Built in 2020Studio to 3 Bedroom Apartments Available Now
The Mark at Fishers District
11547 Yard StFishers, IN 46037
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$1,292 - $2,970Built in 2021Studio to 2 Bedroom Apartments Available Now
Nickel Plate Station
11671 Maple StFishers, IN 46038
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$1,295 - $1,765Built in 20241 to 2 Bedroom Apartments Available Now
Foundry at Heartland Crossing
8396 E Gunnoah WayCamby, IN 46113
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$1,299 - $2,819Built in 2024Studio to 3 Bedroom Apartments Available Now
Hobbs Station
2870 Pearsons PkyPlainfield, IN 46168
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$1,299 - $2,200Built in 20241 to 3 Bedroom Apartments Available Now
Flats at Stones Crossing
1490 St Clare WayGreenwood, IN 46143
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
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SouthPointe Village Apartments
11245 Lantern RdFishers, IN 46038
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Haven Homes
556 Ally BlvdPlainfield, IN 46168
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Built in 20242 to 3 Bedroom Apartments
Cumberland Cottages
13995 Cumberland RdFishers, IN 46038
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Built in 20181 to 2 Bedroom Apartments
Kinnley Court
3650 Clarks Creek RdPlainfield, IN 46168
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Built in 20221 to 3 Bedroom Apartments
Harpers Crossing
311 Harpers CrossingPlainfield, IN 46168
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Built in 20181 to 4 Bedroom Apartments
The Gables
826 Ryland StGreenwood, IN 46143
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Built in 20181 to 3 Bedroom Apartments
Mosaic Apartments
8155 Montage AveAvon, IN 46123
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
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The District
13110 Baden DrFishers, IN 46037
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Built in 20191 to 3 Bedroom Apartments
Harmony Apartment Homes
1601 Waterleaf DrWestfield, IN 46074
Showing Results 51-73, Page 2 of 2
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 | $1,195 | $500 | $6,490 |
| Indianapolis 1 Bedroom Apartments | $1,380 | $518 | $4,208 |
| Indianapolis 2 Bedroom Apartments | $1,668 | $600 | $10,000+ |
| Indianapolis 3 Bedroom Apartments | $2,041 | $799 | $9,205 |
| Indianapolis 4 Bedroom Apartments | $2,275 | $600 | $8,433 |
| Indianapolis 5 Bedroom Apartments | $6,130 | $950 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Indianapolis, IN Area Reviews
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Write a ReviewWendy • 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 1010 Central which is listed at $518, while the average apartment in Indianapolis costs $1,383.
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 5,909 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 $314 which is $1,069 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
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.
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.
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.
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.
Articles, How-To's, and Tips
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
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.
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.