
Apartments for Rent in Indianapolis, IN Under $1,200 (642 Rentals)


Total Monthly Price
1338 Barth Ave

Hanna Village

Canal Square

Riverchase Apartments

Wesmont

Overlook at Valley Ridge Apartments

Riverview

82 Flats

Lakeshore Apartments
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.

Edge 35

Latitudes Apartments

Park Forest Apartments

Broad Ripple Flats

The Masters Apartments

The Delaware Apartments

Stone Ridge Flats and Townhomes

Buckingham & Balmoral

Estates at Crystal Bay

Plaza at Central Greens
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.

TGM Avalon Lake

The Residence at White River Apartments

The Eclipse Apartment Homes

Bishop Pond Apartments

The Meadows

Summerwood on Towne Line Apartments

Heritage Apartments

Northampton Village Apartments

Vanguard at 16 Tech

Harrison Place Apartments
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.

Stadium Lofts & Flats

Park at Eagle Creek

Waterfront Pointe

The Assembly

Berkley Commons

Kinwood Place

Sundance Apartments

Total Monthly Price
Indy 7925

Woods of Castleton

Parkside at Castleton Square Apartments and Townhomes
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.

Loch Haven

Cedar Ridge

The Assumption on Blaine

Drake Street Garden Homes

Proctor Place

Wesley Place

Autumn Chase

Total Monthly Price
ReNew at the Crossing

Vetra 5480

Edison at Meridian Hills
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
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 | $1,199 | $495 | $5,104 |
| Indianapolis 1 Bedroom Apartments Under $1200 | $1,385 | $544 | $4,071 |
| Indianapolis 2 Bedroom Apartments Under $1200 | $1,646 | $545 | $6,669 |
| Indianapolis 3 Bedroom Apartments Under $1200 | $2,036 | $626 | $8,592 |
| Indianapolis 4 Bedroom Apartments Under $1200 | $1,937 | $600 | $10,000+ |
| Indianapolis 5 Bedroom Apartments | $11,925 | $7,013 | $10,000+ |
Browse Top Apartments in Indianapolis
See all Apartments in IndianapolisExplore Indianapolis

Indianapolis, IN Local Guide
- Indianapolis Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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 527 Studio Apartments in Indianapolis with rent ranges from $495 to $5,104 with an average price of $1,199.
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 $4,071 with an average monthly rent of $1,385.
What does renting a Two Bedroom Apartment in Indianapolis cost?
The monthly rent prices of Two Bedroom Apartments currently available in Indianapolis range from $545 to $6,669. Today's average rental price for Two Bedrooms here is $1,646.
How expensive are Indianapolis Three Bedroom Apartments?
There are currently 505 Three Bedroom Apartments listings available in Indianapolis on ApartmentHomeLiving.com. The pricing ranges from $626 to $8,592 - averaging $2,036 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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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.