
Cheap Apartments for Rent with Specials in Indianapolis, IN from $300 (208 Rentals) Page 2 of 5
Rental Listings with Specials.
Cheap Apartments in Indianapolis.


Astoria Park Apartment Homes

The Park at Greenhill

The Prairies Apartment Homes

Veridian Castleton

Wildwood Village Apartments

Sherman Village

Greentree Apartments

1010 Central

The Hills Apartment Homes
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.

Cumberland Manor

Fountainview Apartments

CityView on Meridian

Williamsburg North

Carriage House West

Aspen Chase

Glen Ridge Manor Townhomes and Flats (Indy Town)

The Manning Apartment Homes

Residences at Lawnview

Meridian Court South
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.

Beechmill Apartments

The Pines at SoBro

The Spring Waterside Luxury Apartments

Estates at Crystal Bay

Lockefield Gardens

Park Forest Apartments

The Domino

The Cedars Apartment Homes

TGM Autumn Woods

TGM Avalon Lake
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.

The Grove on 79th

522 Fletcher Ave

The Sycamores

Retreat at Riverbend Apartment Homes

Artistry Indy

Aberdeen Apartments

Eagle Creek by Spark Living

The Vistas Apartment Homes

Line Lofts

Lakeside Crossing at Eagle Creek Apartments and Townhomes
Cash 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.

Total Monthly Price
Wylde at Eagle Creek

Keeneland Crest Apartments

Pier 39 Apartments & Townhomes

Park at Eagle Creek

Rosedale Hills

Circle City

The Towers at Crooked Creek Senior Housing

Waterside at Castleton

Aura Apartments

Suncrest
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.
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 | $1,200 | $556 | $6,490 |
| Indianapolis 1 Bedroom Apartments | $1,376 | $543 | $3,999 |
| Indianapolis 2 Bedroom Apartments | $1,660 | $650 | $10,000+ |
| Indianapolis 3 Bedroom Apartments | $2,033 | $799 | $8,628 |
| Indianapolis 4 Bedroom Apartments | $2,391 | $600 | $8,036 |
| Indianapolis 5 Bedroom Apartments | $7,323 | $2,800 | $10,000+ |
Browse Top Apartments in Indianapolis
See all Apartments in IndianapolisExplore Indianapolis
Indianapolis, IN Area Reviews
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 Central @ 29 which is listed at $543, while the average apartment in Indianapolis costs $1,385.
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 5,904 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 $295 which is $1,090 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

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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.