Cheap Apartments for Rent in the Canal Walk Neighborhood of Indianapolis, IN from $605 (104 Rentals)

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

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9 On Canal
Rent Specials
$1,113 - $3,518
Total Monthly Price

Total Monthly Price

Base Rent
$1,113 - $3,518
Total Monthly Price
$1,113 - $3,518
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
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  • Customer Reviewed
  • 3D Tour

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Ralston Apartments
Rent Specials
$1,159 - $2,895
Total Monthly Price

Total Monthly Price

Base Rent
$1,159 - $2,895
Total Monthly Price
$1,159 - $2,895
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
Corporate Housing
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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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property at 234 E 9th St

$1,424

Total Monthly Price

Total Monthly Price

Base Rent
$1,424
Total Monthly Price
$1,424

2 Bedroom, 1 Bath Home for Rent

Available Now

234 E 9th St

IndianapolisIN46204

Canal Walk - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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property at 537 E 11th St

$1,450

1 Bedroom Rentals

Available Now

537 E 11th St

IndianapolisIN46202

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Canal Walk, Indianapolis, IN Local Guide

Cheapest Available Canal Walk Apartments for Rent

 

The cheapest available apartment rental in the Canal Walk area of Indianapolis, IN is a Studio unit found at Dunbar Court priced from $675. INDY FLATS has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here are the most affordable Canal Walk apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Dunbar CourtStudioStudio,1BA$675
INDY FLATSSherwood Std DStudio,1BA$675
St. RegisThe Pierre1BR,1BA$793
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
The Davlan2-12BR,1BA$846
Senate ManorS.1 BStudio,1BA$930
522 Fletcher Ave*ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ...1BR,1BA$999
The Washington2 Bedroom2BR,1BA$1,025
Artistry IndyEdie (EcoSuite)Studio,1BA$1,034
Lofts on MadisonStudio, 1 bathStudio,1BA$1,050

Best Value Apartments for Rent in Canal Walk, IN

As of August 29, 2026 the best value apartment in the Canal Walk area is the $1.36 price per square foot 3 Bedroom 2 Bath Model at The Block in the in the Riley neighborhood starting from $2,399. The second greatest value Canal Walk apartment is the Star Townhome Model at Pulliam Square starting at $2,725 with a $1.55 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Canal Walk apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Block3 Bedroom 2 Bath3BR,2BA$1.36
Pulliam SquareStar Townhome2BR,2BA$1.55
946 MLKB33BR,2BA$1.14
402 E New York St2 Beds, 2.5 Baths2BR,2.5BA$1.55
The Davlan2-12BR,1BA$0.95
Gardens of Canal CourtOne Bedroom One Bath (875 Square Feet)1BR,1BA$1.53
Drake Street Garden HomesTwo Bedroom2BR,1BA$1.33
The McKayMcKay 1B 8311BR,1BA$1.48
522 Fletcher Ave*ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ...1BR,1BA$1.37
The Washington2 Bedroom2BR,1BA$1.47

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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.

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in metropolitan areas across the United States, including Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, apartment communities for the kids, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Canal Walk Apartments

What is a cheap apartment in Canal Walk?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Canal Walk is under $1,050.

What is the price of a cheap apartment in Canal Walk?

The cheapest apartment in Canal Walk is St. Regis which is listed at $793, while the average apartment in Canal Walk costs $1,504.

What types of apartments are the cheapest in Canal Walk?

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 69 regular apartments in Canal Walk 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 Canal Walk?

Cheap apartments in Canal Walk have an average cost of $238 which is $1,266 cheaper than the average rent for all rentals in Canal Walk.

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.

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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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