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$1,350Built in 20161 Bedroom Apartments Available Now
The Delaware Apartments
2205 N Delaware StIndianapolis, IN 46205
Cheap New Apartments for Rent in Indianapolis, IN from $300 (147 Rentals) Page 2 of 3
Search the lowest-cost Apartments available for rent right now in Indianapolis.
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$1,357 - $3,173Built in 2017Studio to 2 Bedroom Apartments Available Now
Quarry at River North
8901 River Crossing BlvdIndianapolis, IN 46240
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$1,390 - $1,540Built in 2017Studio to 1 Bedroom Apartments Available Now
Forte Apartments
1140 Shelby StIndianapolis, IN 46203
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$1,390 - $2,990Built in 2020Studio to 2 Bedroom Apartments Available Now
Ardmore Apartments
231 N Pennslvania StIndianapolis, IN 46204
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$1,430 - $2,190Built in 2016Studio to 2 Bedroom Apartments Available Now
Slate Apartments
501 Virginia AveIndianapolis, IN 46203
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$1,435 - $1,976Built in 20231 to 2 Bedroom Apartments Contact Us For Availability
The Landing Apartments
9906 Runway DrIndianapolis, IN 46234
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$1,461 - $6,353Built in 2022Studio to 3 Bedroom Apartments Available Now
220 Meridian
220 N Meridian StIndianapolis, IN 46204
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$1,492 - $3,581Built in 2015Studio to 2 Bedroom Apartments Available Now
Pulliam Square
152 E New York StIndianapolis, IN 46204
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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
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 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 to 2 Bedroom Apartments
Morton School Senior Apartments
2101 N College AveIndianapolis, 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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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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Built in 2016Studio to 2 Bedroom Apartments
Illinois Street Senior Apartments
1352 N Illinois StIndianapolis, IN 46202
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Built in 20191 to 2 Bedroom Apartments
Cox Creek at Reagan Crossing
10435 Cox PlIndianapolis, IN 46234
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Built in 20151 to 2 Bedroom Apartments
Preserve at Willow Springs
2252 River Willow PlIndianapolis, IN 46260
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Built in 2015Studio to 3 Bedroom Apartments
The Overlook at Riverdale- Marian University
3200 Cold Spring RdIndianapolis, IN 46222
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Built in 20233 Bedroom Apartments
Garfield Parkside Townhomes
401 E Southern AveIndianapolis, IN 46225
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Built in 20251 to 2 Bedroom Apartments
Kennedy Apartments
806 Dr Martin Luther King Jr StIndianapolis, IN 46202
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$965 - $1,420Built in 20151 to 3 Bedroom Apartments Available Now
LaCabreah Apartments
7130 LaCabreah DrBrownsburg, IN 46112
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$1,180 - $3,460Built in 2023Studio to 2 Bedroom Apartments Available Now
Muse Carmel
1685 E 116th StCarmel, IN 46032
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$1,183 - $2,063Built in 20161 to 2 Bedroom Apartments Available Now
Flats at Switch
9 Municipal DrFishers, IN 46038
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$1,199 - $3,668Built in 20161 to 3 Bedroom Apartments Available Now
Double Creek Flats Apartments
335 Double Creek DrPlainfield, IN 46168
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$1,200 - $1,400Built in 20241 to 2 Bedroom Apartments Available Now
Eastway Court Expansion
42 Manor DrGreenfield, IN 46140
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$1,220 - $1,854Built in 20211 to 2 Bedroom Apartments Available Now
The Barlow
234 E Main StPlainfield, IN 46168
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$1,221 - $1,992Built in 20151 to 3 Bedroom Apartments Available Now
Residences on Ronald Reagan
10531 Kings Row DrAvon, IN 46123
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$1,239 - $1,880Built in 20201 to 2 Bedroom Apartments Available Now
Pullman Pointe
11110 Lantern RdFishers, IN 46038
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$1,249 - $1,910Built in 2023Studio to 2 Bedroom Apartments Available Now
Madison at Greenwood
523 S Madison AveGreenwood, IN 46142
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$1,269 - $2,235Built in 20171 to 3 Bedroom Apartments Available Now
The Ascent Apartments of Plainfield
2471 Ascent WayPlainfield, IN 46168
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$1,271 - $2,041Built in 20181 to 2 Bedroom Apartments Available Now
Union Green
5793 Green StBrownsburg, IN 46112
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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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$1,280 - $4,466Built in 2025Studio to 3 Bedroom Apartments Available Now
The Wren & The Windsor
750 Veterans WayCarmel, IN 46032
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$1,294 - $3,152Built in 2024Studio to 3 Bedroom Apartments Available Now
The State at Fishers Apartments
10510 Kings Wy RdFishers, IN 46037
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$1,295 - $2,155Built in 20181 to 2 Bedroom Apartments Available Now
The Arbuckle
7249 Arbuckle CommonsBrownsburg, IN 46112
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$1,297 - $2,733Built in 2021Studio to 2 Bedroom Apartments Available Now
Nickel Plate Station
11671 Maple StFishers, IN 46038
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$1,299 - $1,947Built in 20181 to 2 Bedroom Apartments Available Now
Wilshaw
1525 N Main StSpeedway, IN 46224
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$1,309 - $2,359Built in 2015Studio to 3 Bedroom Apartments Available Now
The Flats at Fishers Marketplace
9588 Ambleside DrFishers, IN 46038
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$1,327 - $4,444Built in 2018Studio to 3 Bedroom Apartments Available Now
Avant
12890 Old Meridian StCarmel, IN 46032
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$1,329 - $2,412Built in 20201 to 2 Bedroom Apartments Available Now
Aria Apartments of Zionsville
11005 Octave DrZionsville, IN 46077
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 | $1,172 | $581 | $5,271 |
| Indianapolis 1 Bedroom Apartments | $1,373 | $581 | $4,071 |
| Indianapolis 2 Bedroom Apartments | $1,659 | $563 | $5,706 |
| Indianapolis 3 Bedroom Apartments | $2,034 | $999 | $8,315 |
| Indianapolis 4 Bedroom Apartments | $1,875 | $600 | $10,000+ |
| Indianapolis 5 Bedroom Apartments | $4,445 | $1,000 | $8,760 |
Explore Indianapolis
Let everyone know!
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If you’re an expert on all things Indianapolis, tell us what you love (and don't) by rating it and writing a review.
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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.
Indianapolis, IN Area Reviews
Do you know the Indianapolis area?
Let everyone know!
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 $715.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is Oxmoor Indy which is listed at $699, while the average apartment in Indianapolis costs $2,696.
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 8,571 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 $375 which is $2,321 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.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.