Cheap Apartments for Rent in the Augusta Neighborhood of Indianapolis, IN from $500 (41 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Augusta area of Indianapolis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268
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The Meridian North
1 to 3 Bedroom Apartments

The Meridian North

2100 Westlane RdIndianapolis, IN 46260
Corporate Housing
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Oakbrook Village
1 to 3 Bedroom Apartments

Oakbrook Village

6098 Georgetown RdIndianapolis, IN 46254

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.

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Lake Camelot Apartments
1 to 3 Bedroom Apartments

Lake Camelot Apartments

6475 Excalibur CtIndianapolis, IN 46268
  • Utilities Included
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Lakes of Georgetown
1 to 3 Bedroom Apartments

Lakes of Georgetown

6335 Sandyside DrIndianapolis, IN 46268

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.

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Showing Results 1-41, Page 1 of 1

Augusta, Indianapolis, IN Local Guide

Cheapest Available Augusta Apartments for Rent

 

The cheapest available apartment rental in the Augusta area of Indianapolis, IN is a Studio unit found at King's Reserve College Park 55+ Active Living priced from $699. Dogwood Glen has the second lowest priced unit, which is a Studio apartment currently listed from $715. Here are the most affordable Augusta apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
King's Reserve College Park 55+ Active LivingStudio KingStudio,1BA$699
Dogwood GlenStudio 1 BathStudio,1BA$715
Carlton ApartmentsVilla1BR,1BA$800
The Meridian North and SouthA8S South1BR,1BA$809
Covered BridgeOne Bedroom One Bath1BR,1BA$829
AnnhurstOne Bed One Bath1BR,1BA$849
LandmarkRanierStudio,1BA$870
Lakeshore Reserve Off 86th Apartments and TownhomesOne Bedroom1BR,1BA$880
Lake Camelot Apartments2 Bedroom Garden2BR,1BA$965
The Woods of Eagle CreekThe Creek: One Bedroom Apartment1BR,1BA$969

Best Value Apartments for Rent in Augusta, IN

As of April 28, 2026 the best value apartment in the Augusta area is the $1.47 price per square foot Three Bedroom 2.5 Bath Townhome Model at Lakeshore Reserve Off 86th Apartments and Townhomes in the in the Spring Arbor neighborhood starting from $1,975. The second greatest value Augusta apartment is the The Newburgh Model at Private Reserve Townhomes starting at $1,379 with a $1.07 price per square foot in the Spring Arbor neighborhood. Here is today’s list of the best values for Augusta apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lakeshore Reserve Off 86th Apartments and TownhomesThree Bedroom 2.5 Bath Townhome3BR,2.5BA$1.47
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
Estates at Crystal BayTwo Bedroom 1.5 Bath Townhouse 1000 sq ft2BR,1.5BA$1.13
The Woods of Eagle CreekThe Den: Two Bedroom Townhome2BR,1.5BA$1.41
Lake Camelot Apartments2 Bedroom Garden2BR,1BA$1.07
Lakes of GeorgetownU831-M1BR,1BA$1.45
The Elliott at College Park Apartment HomesOne Bedroom1BR,1BA$1.43
Covered BridgeOne Bedroom One Bath1BR,1BA$1.18
Oakbrook VillageThe Willow 1B 1BB1BR,1BA$1.44
The Meridian North and SouthA4R South1BR,1BA$1.28

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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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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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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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

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Lifestyle Ratings

Our team is happy to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, including Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and the best proximity to parks and outdoor amenities, transit availability, pet-friendly communities, family-friendly amenities, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Augusta Apartments

What is a cheap apartment in Augusta?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Augusta is under $969.

What is the price of a cheap apartment in Augusta?

The cheapest apartment in Augusta is Carlton Apartments which is listed at $800, while the average apartment in Augusta costs $1,415.

What types of apartments are the cheapest in Augusta?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 20 regular apartments in Augusta that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Augusta?

Cheap apartments in Augusta have an average cost of $151 which is $1,264 cheaper than the average rent for all rentals in Augusta.

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

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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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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.

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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.

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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.

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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.