
Top Rated Apartments for Rent in Indianapolis, IN Under $700 (4 Rentals)
Apartments in Indianapolis with the best features, newest construction, and richest amenities.

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.
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 | $1,271 | $595 | $7,429 |
Indianapolis 1 Bedroom Apartments | $1,425 | $597 | $4,988 |
Indianapolis 2 Bedroom Apartments | $1,704 | $700 | $8,077 |
Indianapolis 3 Bedroom Apartments | $2,091 | $1,015 | $10,000+ |
Indianapolis 4 Bedroom Apartments | $1,631 | $550 | $5,214 |
Explore Indianapolis

Indianapolis, IN Local Guide
- Indianapolis Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
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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.
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.
Frequently Asked Questions about Indianapolis
How much are Studio apartments in Indianapolis?
There are currently 254 Studio Apartments in Indianapolis with rent ranges from $438 to $7,429 with an average price of $2,235.
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 $4,988 with an average monthly rent of $1,425.
What does renting a Two Bedroom Apartment in Indianapolis cost?
The monthly rent prices of Two Bedroom Apartments currently available in Indianapolis range from $700 to $8,077. Today's average rental price for Two Bedrooms here is $1,704.
How expensive are Indianapolis Three Bedroom Apartments?
There are currently 436 Three Bedroom Apartments listings available in Indianapolis on ApartmentHomeLiving.com. The pricing ranges from $1,015 to $14,286 - averaging $2,091 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.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.