Cheap Homes for Rent in Canal Walk Neighborhood of Indianapolis, IN from $600 (8 Rentals)

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

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.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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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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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 1 Bed unit found at The Seminole priced from $833. Priscilla on Pennsylvania has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable Canal Walk apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Seminole1br1BR,1BA$833
Priscilla on PennsylvaniaStudioStudio,1BA$875
Circle City ApartmentsWinterhouse Studio 389Studio,1BA$910

Best Value Apartments for Rent in Canal Walk, IN

As of May 10, 2025 the best value apartment in the Canal Walk area is the $1.08 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,950. The second greatest value Canal Walk apartment is the Park Avenue Model at The Pointe on Mass starting at $2,370 with a $1.56 price per square foot in the Near North Indianapolis 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.
Shoemaker Buildingloft2BR,2BA$1.08
The Pointe on MassPark Avenue2BR,2BA$1.56
The Block1 Bedroom 1 Bath1BR,1BA$1.06
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.29
RaleighRaleigh 1BTH 8861BR,2BA$1.42
The E'LaanThe Vonnegut II1BR,1BA$1.68
The Seminole1br1BR,1BA$1.13
Indiana Flats and Townhomes2 x 1 Townhome2BR,1BA$1.63
Illinois Street Senior Apartments1BR 1A 60%1BR,1BA$1.68
1010 CentralGarage 60%1BR,1BA$1.70

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.

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Frequently Asked Questions about Canal Walk

What type of rentals are currently available in Canal Walk?

There are currently 155 Apartments for Rent in Canal Walk, IN with pricing that ranges from $605 to $9,703. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in Canal Walk ranging from $695 to $6,200.

What is the current price range for Rental Homes in Canal Walk?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Canal Walk ranges from $695 to $6,200 with an average monthly rent of $2,339.

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.

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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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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.