
Cheap Apartments for Rent in Indianapolis, IN from $300 with Washer/Dryer (410 Rentals) Page 5 of 9
Search the lowest-cost Apartments available for rent right now in Indianapolis.


Penn Street Tower Apartments

Ivy Knoll Apartments

3326 Ruckle St, Unit Rear Apartment

7302 East Washington Street, Unit A

Versa

Lakeshore Reserve Off 86th Apartments and Townhomes

Total Monthly Price
Wynbrooke Senior Apartments

Community Place

LINDEN SQUARE

Pinnex

Lakes of Windsor

River Ridge

Total Monthly Price
Pleasant Run Senior Apartments

Historic Marcy Village

Bluff Crossing Apartments

Mozzo apartments

Total Monthly Price
The Otis at Fort Ben Apartments

Wesmont

The Grounds

The Ripple

Canterbury House Apartments - Franklin Road

Addison Creek

Stonekey Apartments

Arlington Terrace Apartments

Emerson Place

The Villages at Mill Crossing

Lakes at Crossbridge

Whispering Pines

Cloverleaf Apartments & Townhomes

Pinewood Village Apartments

Hopeside I

Mayfield Green Cooperative

Cavalier Court

Red Maple Grove

Sunstone at Arlington Woods

Remington on Rockville

Elmtree Park

Dogwood Glen

Estate View

Garfield Parkside Townhomes

Guion Creek Apartments

The Jeffersonian Apartments Of Indianapolis

Marabou Mills

Sebring Court

Autumn Trails Apartments

Meridian Plaza

Ritter Apartments

Spicewood

Heathmoore - Indianapolis
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 | $1,205 | $556 | $6,490 |
| Indianapolis 1 Bedroom Apartments | $1,379 | $544 | $4,102 |
| Indianapolis 2 Bedroom Apartments | $1,668 | $650 | $9,214 |
| Indianapolis 3 Bedroom Apartments | $2,010 | $799 | $9,126 |
| Indianapolis 4 Bedroom Apartments | $2,018 | $600 | $9,375 |
| Indianapolis 5 Bedroom Apartments | $5,106 | $950 | $10,000+ |
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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 $703.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is Oxmoor Indy which is listed at $699, while the average apartment in Indianapolis costs $2,593.
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 6,095 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 $311 which is $2,282 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

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.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.