Cheap Short Term Lease Apartments for Rent in Indianapolis, IN from $424 (145 Rentals) Page 2 of 3

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Short Term Rental Options.

Cheap Apartments in Indianapolis.

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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The 85Twenty
$1,245 - $1,753

Total Monthly Price

Base Rent$1,245 - $1,753
Total Monthly PriceVaries
1 to 3 Bedroom Apartments Available Now

The 85Twenty

8520 Sierra Ridge DrIndianapolis, IN 46239
Corporate Housing
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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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Central State Mansion
Studio to 3 Bedroom Apartments

Central State Mansion

202 Steeples BlvdIndianapolis, IN 46222
Student Housing
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Remington on Rockville
1 to 3 Bedroom Apartments

Remington on Rockville

7455 Rockleigh AveIndianapolis, IN 46214
  • Utilities Included

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Create a productive work-from-home apartment setup, even in a small space or studio. Discover layout ideas, desk solutions, and organization tips that actually work.

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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227
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The Regal Apartments
1 to 2 Bedroom Apartments

The Regal Apartments

3603 N Washington BlvdIndianapolis, IN 46205
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Elmtree Park
Studio to 2 Bedroom Apartments

Elmtree Park

11023 Elmtree Park DrIndianapolis, IN 46229
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Aragon Woods
Studio to 3 Bedroom Apartments

Aragon Woods

8172 Aragon Woods DrIndianapolis, IN 46214
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The Meridian North
1 to 3 Bedroom Apartments

The Meridian North

2100 Westlane RdIndianapolis, IN 46260
Corporate Housing
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Spicewood
Studio to 2 Bedroom Apartments

Spicewood

354 Spicewood DrIndianapolis, IN 46227
Senior Living
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Reflections Apartments
Studio to 3 Bedroom Apartments

Reflections Apartments

7999 Silverleaf DrIndianapolis, IN 46260
Corporate Housing
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Ninth Avenue Apartments
Studio to 3 Bedroom Apartments

Ninth Avenue Apartments

4651 Mimi DrIndianapolis, IN 46237
Corporate Housing

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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Lake Camelot Apartments
1 to 3 Bedroom Apartments

Lake Camelot Apartments

6475 Excalibur CtIndianapolis, IN 46268
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Oakbrook Village
1 to 3 Bedroom Apartments

Oakbrook Village

6098 Georgetown RdIndianapolis, IN 46254
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919 Broadway St
1 Bedroom Apartments

919 Broadway St

919 Broadway StIndianapolis, IN 46202
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10 West Apartments
1 to 3 Bedroom Apartments

10 West Apartments

7855 Cimarron TrlIndianapolis, IN 46214
Corporate Housing
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The Oasis
1 to 3 Bedroom Apartments

The Oasis

4900 Edinborough LnIndianapolis, IN 46241
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Harbour Pointe
1 to 2 Bedroom Apartments

Harbour Pointe

4400 E Fall Creek Parkway North DrIndianapolis, IN 46205
Corporate Housing

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.

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Indianapolis, IN Area Reviews

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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 $675.

What is the price of a cheap apartment in Indianapolis?

The cheapest apartment in Indianapolis is Harpers Crossing which is listed at $424, while the average apartment in Indianapolis costs $1,393.

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 5,584 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 $286 which is $1,107 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

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Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I am the local expert for ApartmentHomeLiving.com in the Indianapolis area. Being born and raised in Indiana, I know the true meaning of Hoosier hospitality.

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Indy's 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.

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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.

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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.

Articles, How-To's, and Tips

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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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.

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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.