Cheap Apartments for Rent in the Clearwater Neighborhood of Indianapolis, IN from $700 (34 Rentals)

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

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Clearwater, Indianapolis, IN Local Guide

Cheapest Available Clearwater Apartments for Rent

 

The cheapest available apartment rental in the Clearwater area of Indianapolis, IN is a Studio unit found at The Hub at Nora priced from $749. College Courts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $859. Here are the most affordable Clearwater apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Hub at NoraStudio Suite with Patio/Balcony - The SparkStudio,1BA$749
College Courts1 Bed/1 Bath Up (B)1BR,1BA$859
Lincolnshire Broad RippleStudio Upper LevelsStudio,1BA$875
River Road ApartmentsVilla1BR,1BA$880
Scandia ApartmentsDannenborg1BR,1BA$894
Jade North ApartmentsPlan FStudio,1BA$900
Williamsburg NorthAshland1BR,1BA$950
Riverbend ApartmentsMonte Carlo1BR,1BA$967
Woodbridge Castleton1 Bedroom Apartment1BR,1BA$973
Chateau in the Woods1 Bd/1 Ba Sm ABY1BR,1BA$994

Best Value Apartments for Rent in Clearwater, IN

As of November 10, 2025 the best value apartment in the Clearwater area is the $1.19 price per square foot 2 Bed, 2.5 Bath, 2 car Garage Townhome Model at Townes at Winthrop in the in the Warfleigh neighborhood starting from $2,200. The second greatest value Clearwater apartment is the B4 - Townhome Model at Veridian Castleton starting at $1,403 with a $1.13 price per square foot in the Berkley Place neighborhood. Here is today’s list of the best values for Clearwater apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Townes at Winthrop2 Bed, 2.5 Bath, 2 car Garage Townhome2BR,2.5BA$1.19
Veridian CastletonB4 - Townhome2BR,1.5BA$1.13
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.25
Scandia ApartmentsLandsting2BR,2BA$1.09
The Preserve on Allisonville TownhomesTwo Bedroom Townhome2BR,1.5BA$1.37
Edgewater Apartments2 Bedroom2BR,2BA$1.26
Somerset LakesRetreat: One Bedroom Apartment1BR,1BA$1.26
Castleton Manor ApartmentsThe Banyan1BR,1.5BA$1.25
Williamsburg NorthAshland1BR,1BA$1.21
Woodbridge Castleton1 Bedroom Apartment1BR,1BA$1.39

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Clearwater, Indianapolis, IN

Ranked #27

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Getting Around the Clearwater Neighborhood in Indianapolis, IN

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

22 / 100

Minimal Transit

It may be possible to get on a bus

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 Cheap Clearwater Apartments

What is a cheap apartment in Clearwater?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Clearwater is under $994.

What is the price of a cheap apartment in Clearwater?

The cheapest apartment in Clearwater is College Courts which is listed at $859, while the average apartment in Clearwater costs $2,101.

What types of apartments are the cheapest in Clearwater?

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 113 regular apartments in Clearwater 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 Clearwater?

Cheap apartments in Clearwater have an average cost of $224 which is $1,877 cheaper than the average rent for all rentals in Clearwater.

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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.