
Cheap Apartments for Rent in Indianapolis, IN from $300 with Swimming Pool (240 Rentals) Page 3 of 5
Search the lowest-cost Apartments available for rent right now in Indianapolis.


Waterside at Castleton

Overlook at Valley Ridge Apartments

Total Monthly Price
ReNew at the Crossing

Estates at Crystal Bay

Brockton

Woodbridge Castleton

Aberdeen Apartments

Lakeshore Reserve Off 86th Apartments and Townhomes

The Residences on 56th
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.

Westpark Townhomes

Fallwood

Country Lake Estates

Keeneland Crest Apartments

The Grove on Harcourt

Martinique Terrace

Oak Lake at Crooked Creek

Abney Lake

Woods of Castleton

Avery Point Apartments
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Oak Park

Canal Square

Parkside at Castleton Square Apartments and Townhomes

Northview

The Lodge at Trails Edge

The Lenox Apartment Homes

The Riverside Apartment Homes

Center Point

Pier 39 Apartments & Townhomes

Edison at Meridian Hills
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Vetra 5480

TGM Avalon Lake

Avia Lofts at Founders Road

TGM Shadeland Station

Autumn Chase

Elevate Keystone Apartments

Waterfront Pointe

Cedar Ridge

Castleton Manor Apartments

Riley Towers
Understanding Amenity Fees: Know Where You Might Be Able to Save Money
What are amenity fees and are they optional? This guide breaks down everything you need to know about apartment amenity fees, including when you can opt out and how you might be able to lower your rent.

The Eclipse Apartment Homes

Summerwood on Towne Line Apartments

Total Monthly Price
9 On Canal

Windsor Park

Eagle Creek by Spark Living

The Residence at White River Apartments

Murphy's Landing

Forest Ridge Apartment Homes

The Life at Belhaven Place

Riverchase Apartments
It's time to soak up some sun!
One of the easiest and more obvious ways of enjoying the summer sun is to lounge out by your community pool. Learn a Few Rules to Keep in Mind while at the pool.
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 | $1,193 | $556 | $6,490 |
| Indianapolis 1 Bedroom Apartments | $1,380 | $518 | $4,113 |
| Indianapolis 2 Bedroom Apartments | $1,667 | $600 | $10,000+ |
| Indianapolis 3 Bedroom Apartments | $2,038 | $799 | $9,205 |
| Indianapolis 4 Bedroom Apartments | $2,396 | $600 | $8,568 |
| Indianapolis 5 Bedroom Apartments | $6,130 | $950 | $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 1010 Central which is listed at $518, while the average apartment in Indianapolis costs $1,384.
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 6,053 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 $313 which is $1,071 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.