Top Rated Cheap Apartments for Rent in Indianapolis, IN from $513 (152 Rentals) Page 2 of 4

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Top Rated Apartments in Indianapolis.

Cheap Apartments in Indianapolis.

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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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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Shore Acres
Studio to 3 Bedroom Apartments

Shore Acres

1105 Westfield Ct WIndianapolis, IN 46240
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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268
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Whispering Pines
1 to 3 Bedroom Apartments

Whispering Pines

4444 Mission DrIndianapolis, IN 46254
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The Historic Bauer
1 to 2 Bedroom Apartments

The Historic Bauer

3720 N Meridian StIndianapolis, IN 46208
  • Utilities Included

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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Remington on Rockville
1 to 3 Bedroom Apartments

Remington on Rockville

7455 Rockleigh AveIndianapolis, IN 46214
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Peppermill Farms
1 to 2 Bedroom Apartments

Peppermill Farms

6830 Mill View DrIndianapolis, IN 46226
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Encore Apartments
Studio to 2 Bedroom Apartments

Encore Apartments

8035 Preidt PlIndianapolis, IN 46237
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Bellagio Living II
1 Bedroom Apartments

Bellagio Living II

8953 Brigadier DrIndianapolis, IN 46226
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Saxony Court
1 to 2 Bedroom Apartments

Saxony Court

29-49 S Audubon RdIndianapolis, IN 46219
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Lawrence Landing
1 to 2 Bedroom Apartments

Lawrence Landing

6875 Faris AveIndianapolis, IN 46226
  • Utilities Included

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.

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Chateau in the Woods
1 to 3 Bedroom Apartments

Chateau in the Woods

4020 Monaco DrIndianapolis, IN 46220
Corporate Housing
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Edge 35
Studio to 2 Bedroom Apartments

Edge 35

1224 Prospect StIndianapolis, IN 46203
Student Housing
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The Richelieu
1 to 2 Bedroom Apartments

The Richelieu

610 N East StIndianapolis, IN 46202
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Plaza at Central Greens
1 to 3 Bedroom Apartments

Plaza at Central Greens

3010 W Washington StIndianapolis, IN 46222
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Blacherne Apartments
Studio to 3 Bedroom Apartments

Blacherne Apartments

402 N Meridian StIndianapolis, IN 46204
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The Retreat On Washington
1 to 2 Bedroom Apartments

The Retreat On Washington

2950 Kirkbride WayIndianapolis, IN 46222
Senior Living
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Bradford Park
1 to 4 Bedroom Apartments

Bradford Park

3940 Crystal Pond WayIndianapolis, IN 46234
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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.

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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 Volrath which is listed at $599, while the average apartment in Indianapolis costs $1,399.

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 5,998 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 $1,113 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 Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods article

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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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.

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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.