Cheap Studio Apartments for Rent in Indianapolis, IN from $595 (183 Rentals) Page 2 of 4

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9 On Canal
Rent Specials
$895 - $1,665
Total Monthly Price

Total Monthly Price

Base Rent
$895 - $3,300
Required Monthly Fees
$15
Total Monthly Price
$910 - $3,315
Studio Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
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Lake Castleton Apartments
Rent Specials
$947 - $1,177
Total Monthly Price

Total Monthly Price

Base Rent
$868 - $1,542
Required Monthly Fees
$112
Total Monthly Price
$980 - $1,654
Studio Apartments Available Now

Lake Castleton Apartments

7601 Carlton Arms DrIndianapolis, IN 46256
Affordability
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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.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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The Delaware Apartments
Rent Specials
$1,175
Total Monthly Price

Total Monthly Price

Base Rent
$1,140 - $1,315
Required Monthly Fees
$35
Total Monthly Price
$1,175 - $1,350
Studio Apartments Available Now

The Delaware Apartments

2205 N Delaware StIndianapolis, IN 46205
Furnished
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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 Coil
Rent Specials
$1,295 - $1,595
Total Monthly Price

Total Monthly Price

Base Rent
$1,113 - $3,113
Required Monthly Fees
$182
Total Monthly Price
$1,295 - $3,295
Studio Apartments Available Now

The Coil

6349 N College AveIndianapolis, IN 46220
Luxury
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Nook Nine
Rent Specials
$1,326 - $1,956
Total Monthly Price

Total Monthly Price

Base Rent
$1,236 - $3,121
Required Monthly Fees
$90
Total Monthly Price
$1,326 - $3,211
Studio Apartments Available Now

Nook Nine

9433 Avant AveIndianapolis, IN 46240
Corporate Housing
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Showing Results 51-100, Page 2 of 4

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 $690.

What is the price of a cheap apartment in Indianapolis?

The cheapest apartment in Indianapolis is D&T Nest which is listed at $575, while the average apartment in Indianapolis costs $3,058.

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 10,018 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 $387 which is $2,671 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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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.

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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.

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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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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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Articles, How-To's, and Tips

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.