
Apartments for Rent in Indianapolis, IN Under $1,200 (655 Rentals)


Total Monthly Price
1338 Barth Ave

333 Penn Apartments

Bishop Pond Apartments

Riverchase Apartments

Paragon Park

Penn Street Tower Apartments

Riverview

Emhardt Apartments

Colmar Apartments
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.

The Masters Apartments

The Riverside Apartment Homes

Sundance Apartments

Solana Apartments

Total Monthly Price
Indy 7925

Teal Run Apartments

Center Point

Crosswinds

Eagle Creek by Spark Living

Broad Ripple Flats
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

The Delaware Apartments

Creek Bay

Bayview Club Apartments

Buckingham & Balmoral

Stadium Lofts & Flats

Plaza at Central Greens

Chelsea Village

TGM Avalon Lake

The Meadows

Maxwell Apartments
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

Heritage Apartments

Northampton Village Apartments

Total Monthly Price
ReNew at the Crossing

Forest Ridge Apartment Homes

Lakeshore Apartments

Ashton Brook

Kinwood Place

Riley Towers

1010 Central

Windsor Park
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.

Veridian Castleton

Aberdeen Apartments

Cedar Ridge

Waterfront Pointe

Park Forest Apartments

Drake Street Garden Homes

The Assumption on Blaine

Total Monthly Price
5841 W 25th St, Unit 1 or 4

Hanna Village

The Eclipse Apartment Homes
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.
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 Under $1200 | $1,241 | $595 | $6,179 |
| Indianapolis 1 Bedroom Apartments Under $1200 | $1,391 | $544 | $4,532 |
| Indianapolis 2 Bedroom Apartments Under $1200 | $1,659 | $650 | $9,238 |
| Indianapolis 3 Bedroom Apartments Under $1200 | $2,015 | $799 | $9,756 |
| Indianapolis 4 Bedroom Apartments Under $1200 | $1,879 | $600 | $6,569 |
| Indianapolis 5 Bedroom Apartments | $6,369 | $1,175 | $10,000+ |
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Indianapolis, IN Local Guide
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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Indianapolis, IN Rentals by Map
See the most popular apartments and homes in Indianapolis, IN
Indianapolis, IN Area Reviews
Wendy • 3+ years in Indianapolis
August 10, 2025One of Indiana's most beautiful cities!
Frequently Asked Questions about Indianapolis
How much are Studio apartments in Indianapolis?
There are currently 529 Studio Apartments in Indianapolis with rent ranges from $595 to $6,179 with an average price of $1,241.
What is the current price range for One Bedroom Indianapolis Apartments for rent?
Today's rental pricing for One Bedroom Apartments in Indianapolis ranges from $544 to $4,532 with an average monthly rent of $1,391.
What does renting a Two Bedroom Apartment in Indianapolis cost?
The monthly rent prices of Two Bedroom Apartments currently available in Indianapolis range from $650 to $9,238. Today's average rental price for Two Bedrooms here is $1,659.
How expensive are Indianapolis Three Bedroom Apartments?
There are currently 519 Three Bedroom Apartments listings available in Indianapolis on ApartmentHomeLiving.com. The pricing ranges from $799 to $9,756 - averaging $2,015 for the location.
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

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.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.