
Apartments for Rent in Indianapolis, IN Under $1,500 (886 Rentals) Page 2 of 18


Park 66 Flats

Community Place

Monon Living

Southern Dunes

Versa

El Dorado

Eagle Chase

Penn Street Tower Apartments

Rise on Meridian
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

333 Penn Apartments

The Fort Apartments

Lakes of Windsor

River Ridge Apartments

Total Monthly Price
The 85Twenty

Nook Nine

7302 East Washington Street, Unit A, Unit A

3326 Ruckle St, Unit Rear Apartment, Unit Rear Apartment

Mozzo apartments

Iron Trail

Apollo & Aurora Apartments

LINDEN SQUARE

Edgewater Apartments

Bayview Club Apartments

Estates at Crystal Bay

The Timbers Apartments

Pinnex

North Willow

River Crossing

Aberdeen Apartments

2131 North

Aspen Lakes

Harrison Place Apartments

Circa Apartments

Eagle Creek by Spark Living

Indy Downtown Colonial Apartments

Vanguard at 16 Tech

Total Monthly Price
605 N Rural St, Unit 605, Unit 605

Garden Arch Apartments

Center Point

800 Capitol

Lockerbie Lofts

Riverview

Emhardt Apartments

Teal Run Apartments

Chelsea Village

Eagle Lake Landing

82 Flats

The Masters Apartments

Stone Ridge Flats and Townhomes
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 $1500 | $1,184 | $200 | $5,277 |
| Indianapolis 1 Bedroom Apartments Under $1500 | $1,389 | $544 | $5,777 |
| Indianapolis 2 Bedroom Apartments Under $1500 | $1,646 | $545 | $5,783 |
| Indianapolis 3 Bedroom Apartments Under $1500 | $2,027 | $626 | $8,289 |
| Indianapolis 4 Bedroom Apartments Under $1500 | $1,921 | $600 | $10,000+ |
| Indianapolis 5 Bedroom Apartments | $9,084 | $950 | $10,000+ |
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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 528 Studio Apartments in Indianapolis with rent ranges from $200 to $5,277 with an average price of $1,184.
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 $5,777 with an average monthly rent of $1,389.
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 $5,783. Today's average rental price for Two Bedrooms here is $1,646.
How expensive are Indianapolis Three Bedroom Apartments?
There are currently 513 Three Bedroom Apartments listings available in Indianapolis on ApartmentHomeLiving.com. The pricing ranges from $626 to $8,289 - averaging $2,027 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

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.

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.

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.