
Cheap Apartments for Rent in Indianapolis, IN from $300 (890 Rentals) Page 12 of 18
Search the lowest-cost Apartments available for rent right now in Indianapolis.


The Meridian

Saxony Court

Reflections Apartments

Spicewood

Birchwood Place

Muessing Apartments

Deerfield Acres

3519 Balsam Ave

550 Fletcher Ave

Atrium Village

Carlyle Court

Encore Apartments

The Meridian North

South & Madison

Capitol Manor

1745 N Ritter Ave

Farhill Lake Apartments

Central State Mansion

Rand House Apartments

Colonial Park

Clark House Apartments

Meier House Apartments

Crossroads at Southgreen

The Sterling

Braeburn Village

Nora Commons on the Monon Senior Apartments

The Victoria Apartments

Proctor Place

College Park Apartments

Bellagio Living II

The Whitaker

Bellagio Living I

Indy Christian Place Apartments LLC

Lake Camelot Apartments

Eagledale Senior Apartments

Minnie Hartman

Waterstone Place Apartments

Canal Gardens

St. James

Madison Apartments

Linwood Manor

Ninth Avenue Apartments

Villa Del Sol Apartments

Pickwick Farms Apartments

Utomin Apartments

Heather Ridge

Northwoods Apartments

Trenton House Apartments

Monon Lofts
Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Indianapolis Studio Apartments | $1,234 | $556 | $5,725 |
| Cheap Indianapolis 1 Bedroom Apartments | $1,390 | $544 | $4,277 |
| Cheap Indianapolis 2 Bedroom Apartments | $1,682 | $650 | $10,000+ |
| Cheap Indianapolis 3 Bedroom Apartments | $2,032 | $799 | $9,756 |
| Cheap Indianapolis 4 Bedroom Apartments | $2,516 | $600 | $10,000+ |
| Indianapolis 5 Bedroom Apartments | $7,368 | $1,175 | $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 $689.
What is the price of a cheap apartment in Indianapolis?
The cheapest apartment in Indianapolis is The Villages at Mill Crossing which is listed at $669, while the average apartment in Indianapolis costs $2,656.
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 6,450 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 $338 which is $2,318 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

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.

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.

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.

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.
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.