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Apartments for Rent in Indianapolis, IN Under $500 (18 Rentals)
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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
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1 to 4 Bedroom Apartments
Canterbury House Apartments - Franklin Road
7955 Kingsmead DrIndianapolis, IN 46226
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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
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1 to 4 Bedroom Apartments
The Commons at Wynne Farms Apartments
2828 Redrock Rd WBrownsburg, IN 46112
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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.
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Showing Results 1-18, Page 1 of 1
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 $500 | $1,217 | $515 | $5,274 |
| Indianapolis 1 Bedroom Apartments Under $500 | $1,350 | $597 | $4,292 |
| Indianapolis 2 Bedroom Apartments Under $500 | $1,619 | $563 | $5,706 |
| Indianapolis 3 Bedroom Apartments Under $500 | $1,982 | $801 | $10,000+ |
| Indianapolis 4 Bedroom Apartments Under $500 | $1,654 | $550 | $6,626 |
| Indianapolis 5 Bedroom Apartments | $5,135 | $2,750 | $9,085 |
Browse Top Apartments in Indianapolis
See all Apartments in IndianapolisExplore Indianapolis
Indianapolis, IN Local Guide
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Quick 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.
Pet Friendly LifestyleIndianapolis, IN
Ranked #1
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
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
Getting Around Indianapolis, IN
Walk Score®
50 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
53 / 100
Bikeable
Some bike infrastructure
Transit Score®
29 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Indianapolis, IN Area Reviews
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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 526 Studio Apartments in Indianapolis with rent ranges from $515 to $5,274 with an average price of $1,217.
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 $597 to $4,292 with an average monthly rent of $1,350.
What does renting a Two Bedroom Apartment in Indianapolis cost?
The monthly rent prices of Two Bedroom Apartments currently available in Indianapolis range from $563 to $5,706. Today's average rental price for Two Bedrooms here is $1,619.
How expensive are Indianapolis Three Bedroom Apartments?
There are currently 491 Three Bedroom Apartments listings available in Indianapolis on ApartmentHomeLiving.com. The pricing ranges from $801 to $11,089 - averaging $1,982 for the location.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.