Cheap Apartments for Rent with Specials in Indianapolis, IN from $300 (235 Rentals) Page 3 of 5

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Rental Listings with Specials.

Cheap Apartments in Indianapolis.

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Indy 7925
Rent Specials
$1,035 - $1,761
Total Monthly Price

Total Monthly Price

Base Rent
$985 - $1,711
Required Monthly Fees
$50
Total Monthly Price
$1,035 - $1,761
1 to 3 Bedroom Apartments Available Now

Indy 7925

7925 Palawan DrIndianapolis, IN 46239
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632MLK
Rent Specials
$1,050 - $2,550
Total Monthly Price

Total Monthly Price

Base Rent
$955 - $2,455
Required Monthly Fees
$95
Total Monthly Price
$1,050 - $2,550
Studio to 3 Bedroom Apartments Available Now

632MLK

632 Dr Martin Luther King Jr StIndianapolis, IN 46202
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Wylde at Eagle Creek
Rent Specials
$1,093 - $2,445
Total Monthly Price

Total Monthly Price

Base Rent
$1,083 - $2,435
Required Monthly Fees
$10
Total Monthly Price
$1,093 - $2,445
1 to 2 Bedroom Apartments Available Now

Wylde at Eagle Creek

6612 Eagle Pointe DrIndianapolis, IN 46254
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Ralston Apartments
Rent Specials
$1,167 - $3,496
Total Monthly Price

Total Monthly Price

Base Rent
$1,113 - $3,442
Required Monthly Fees
$54
Total Monthly Price
$1,167 - $3,496
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
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The Delaware Apartments
Rent Specials
$1,175 - $1,750
Total Monthly Price

Total Monthly Price

Base Rent
$1,140 - $1,715
Required Monthly Fees
$35
Total Monthly Price
$1,175 - $1,750
Studio to 2 Bedroom Apartments Available Now

The Delaware Apartments

2205 N Delaware StIndianapolis, IN 46205
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The 85Twenty
Rent Specials
$1,177 - $1,736
Total Monthly Price

Total Monthly Price

Base Rent
$1,127 - $1,686
Required Monthly Fees
$50
Total Monthly Price
$1,177 - $1,736
1 to 3 Bedroom Apartments Available Now

The 85Twenty

8520 Sierra Ridge DrIndianapolis, IN 46239
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Monon Living
Rent Specials
$1,180 - $3,226
Total Monthly Price

Total Monthly Price

Base Rent
$1,097 - $3,143
Required Monthly Fees
$83
Total Monthly Price
$1,180 - $3,226
1 to 3 Bedroom Apartments Available Now

Monon Living

5934 Carvel AveIndianapolis, IN 46220
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Wendy • 3+ years in Indianapolis

August 10, 2025

One 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 $705.

What is the price of a cheap apartment in Indianapolis?

The cheapest apartment in Indianapolis is Volrath which is listed at $649, while the average apartment in Indianapolis costs $2,588.

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 9,289 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 $369 which is $2,219 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

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

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.

decorative image for Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters article

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.

decorative image for Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods article

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.

Articles, How-To's, and Tips

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.