New Apartments for Rent in Indianapolis, IN Under $1,500 (135 Rentals) Page 2 of 3

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Kennedy Apartments
Built in 20251 to 2 Bedroom Apartments

Kennedy Apartments

806 Dr Martin Luther King Jr StIndianapolis, IN 46202
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946 MLK
Built in 20171 to 3 Bedroom Apartments

946 MLK

946 Dr Martin Luther King Jr StIndianapolis, IN 46202
Corporate Housing
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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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The MK
Built in 2018Studio to 3 Bedroom Apartments

The MK

5858 N College AveIndianapolis, IN 46220
Corporate Housing
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Alder Woods
Built in 20231 to 2 Bedroom Apartments

Alder Woods

6806 E County Line RdIndianapolis, IN 46237
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Roberts School Flats
Built in 2018Studio to 2 Bedroom Apartments

Roberts School Flats

1401 E 10th StIndianapolis, IN 46201
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The Vue
Built in 2017Studio to 2 Bedroom Apartments

The Vue

718 E Georgia StIndianapolis, IN 46202
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City's End
Built in 2021Studio to 2 Bedroom Apartments

City's End

1441 Prospect StIndianapolis, IN 46203
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Grid
Built in 2020Studio to 2 Bedroom Apartments

Grid

520 E Washington StIndianapolis, IN 46204

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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Gathyr Apartments
Built in 2023Studio to 2 Bedroom Apartments

Gathyr Apartments

1117 E Market StIndianapolis, IN 46202
Corporate Housing
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Slate Run Lofts
Built in 2019Studio to 2 Bedroom Apartments

Slate Run Lofts

9555 International DrIndianapolis, IN 46268
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The Reserve at White River
Built in 20221 to 2 Bedroom Apartments

The Reserve at White River

2774 Pixel RdIndianapolis, IN 46222
Senior Living
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Monon Lofts
Built in 20171 to 2 Bedroom Apartments

Monon Lofts

1122 E 16th StIndianapolis, IN 46202
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Greyhound Village
Built in 20161 to 4 Bedroom Apartments

Greyhound Village

3701 Shelby StIndianapolis, IN 46227
Student Housing
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University Lofts
Built in 20191 to 4 Bedroom Apartments

University Lofts

1340 National AveIndianapolis, IN 46227
Student Housing
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Parkside At Tarkington
Built in 20221 to 2 Bedroom Apartments

Parkside At Tarkington

3901 N Meridian StIndianapolis, IN 46208
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The Hangar on Emerson
$1,386 - $4,834
Total Monthly Price

Total Monthly Price

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$1,386 - $4,834
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Built in 20231 to 3 Bedroom Apartments Available Now

The Hangar on Emerson

1140 E Emerson Pointe DrGreenwood, IN 46143
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Showing Results 51-100, Page 2 of 3

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 New Indianapolis Apartments

What is the Cheapest New apartment in Indianapolis?

Currently the most affordable New Apartment in Indianapolis is at Line Lofts listed at $515.

How much is the average rent for a New Indianapolis Apartment?

The average rent for a New Apartment in Indianapolis is $1,958.

What is the largest New Indianapolis Apartment for rent?

Today's New apartment with the most square footage in Indianapolis is a 2,675 square feet unit starting from $1,701 at Slate at Fishers District.

What is the average size for Indianapolis New Apartments for rent?

The average size for a New rental in Indianapolis is currently at 642 sq ft.

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

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

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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.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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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.

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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.