Cheap Apartments for Rent in the College Park Neighborhood of Indianapolis, IN from $500 (28 Rentals)

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

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The Meridian North and South
$709 - $1,617
Total Monthly Price

Total Monthly Price

Base Rent
$631 - $1,539
Required Monthly Fees
$78

Total Monthly Price
$709 - $1,617
Studio to 3 Bedroom Apartments Available Now

The Meridian North and South

2085 Waterford PlIndianapolis, IN 46260
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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Dogwood Glen
$725 - $2,390
Total Monthly Price

Total Monthly Price

Base Rent
$712 - $2,377
Required Monthly Fees
$13

Total Monthly Price
$725 - $2,390
Studio to 2 Bedroom Apartments Available Mar 13

Dogwood Glen

2390 Woodglen DrIndianapolis, IN 46260
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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Avia Lofts at Founders Road
Rent Specials
$959 - $1,469
Total Monthly Price

Total Monthly Price

Base Rent
$933 - $1,443
Required Monthly Fees
$26

Total Monthly Price
$959 - $1,469
Studio to 2 Bedroom Apartments Available Now

Avia Lofts at Founders Road

3553 Founders RdIndianapolis, IN 46268
Student Housing
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  • 3D Tour
  • Smoke Free

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The Retreat Northwest
$1,073 - $2,239
Total Monthly Price

Total Monthly Price

Base Rent
$1,041 - $2,207
Required Monthly Fees
$32

Total Monthly Price
$1,073 - $2,239
1 to 3 Bedroom Apartments Available Now

The Retreat Northwest

1130 Racquet Club North DrIndianapolis, IN 46260
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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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Slate Run Lofts
Studio to 2 Bedroom Apartments

Slate Run Lofts

9555 International DrIndianapolis, IN 46268
  • Smoke Free
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The Jameson
1 to 2 Bedroom Apartments

The Jameson

1854 Century WayIndianapolis, IN 46260

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College Park, Indianapolis, IN Local Guide

Cheapest Available College Park Apartments for Rent

 

The cheapest available apartment rental in the College Park area of Indianapolis, IN is a Studio unit found at King's Reserve College Park 55+ Active Living priced from $699. The Meridian North and South has the second lowest priced unit, which is a 1 Bed apartment currently listed from $764. Here are the most affordable College Park apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
King's Reserve College Park 55+ Active LivingStudio KingStudio,1BA$699
The Meridian North and SouthA1S South1BR,1BA$764
Westbury CourtStandard One Bedroom (SN3)1BR,1BA$786
Carlton ApartmentsVilla1BR,1BA$800
Slate Run Lofts and ApartmentsStudio-AptsStudio,1BA$800
Reflections ApartmentsExpressionsStudio,1BA$824
Turtle CreekStudioStudio,1BA$859
LandmarkRanierStudio,1BA$870
The Grove on 79th1x1 Classic1BR,1BA$899
Summerwood on Towne Line ApartmentsPoplar1BR,1BA$950

Best Value Apartments for Rent in College Park, IN

As of February 25, 2026 the best value apartment in the College Park area is the $1.07 price per square foot The Newburgh Model at Private Reserve Townhomes in the in the Spring Arbor neighborhood starting from $1,379. The second greatest value College Park apartment is the 2 Bed/1 Ba w/FP-Up Model at North Willow starting at $1,404 with a $1.23 price per square foot in the Spring Arbor neighborhood. Here is today’s list of the best values for College Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
North Willow2 Bed/1 Ba w/FP-Up2BR,1BA$1.23
Willow Lake ApartmentsKeystone1BR,1BA$1.38
Crooked CreekThe Sage2BR,1.5BA$1.46
The Grove on Harcourt1x1,5 Renovated1BR,1.5BA$1.23
The Elliott at College Park Apartment HomesOne Bedroom1BR,1BA$1.48
Summerwood on Towne Line ApartmentsWillow1BR,1BA$1.43
The Retreat Northwest1 Bedroom 1 Bathroom 753 Sq. Ft.1BR,1BA$1.42
WoodlakeOne Bedroom Apartment1BR,1BA$1.48
The Grove on 79th1x1 Classic1BR,1BA$1.39

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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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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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Pet Friendly Lifestyle
College Park, Indianapolis, IN

Ranked #68

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap College Park Apartments

What is a cheap apartment in College Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in College Park is under $950.

What is the price of a cheap apartment in College Park?

The cheapest apartment in College Park is The Meridian North and South which is listed at $764, while the average apartment in College Park costs $1,745.

What types of apartments are the cheapest in College Park?

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 57 regular apartments in College Park 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 College Park?

Cheap apartments in College Park have an average cost of $169 which is $1,576 cheaper than the average rent for all rentals in College Park.

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.

Articles, How-To's, and Tips

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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.