Cheap Apartments for Rent in the College Park Neighborhood of Indianapolis, IN from $500 (33 Rentals)

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Search the lowest-cost Apartments available for rent right now in the College Park 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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ReNew at the Crossing
Rent Specials
$1,059 - $2,639
Total Monthly Price

Total Monthly Price

Base Rent
$1,059 - $2,639
Total Monthly Price
$1,059 - $2,639
1 to 3 Bedroom Apartments Available Now

ReNew at the Crossing

1130 Racquet Club North DrIndianapolis, IN 46260
Corporate Housing
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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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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268

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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Dogwood Glen
Studio to 2 Bedroom Apartments

Dogwood Glen

2390 Woodglen DrIndianapolis, IN 46260
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Reflections Apartments
Studio to 3 Bedroom Apartments

Reflections Apartments

7999 Silverleaf DrIndianapolis, IN 46260
Corporate Housing
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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

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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Crooked Creek
1 to 2 Bedroom Apartments

Crooked Creek

3947 Point Bar RdIndianapolis, IN 46268
Showing Results 1-33, Page 1 of 1

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 The Meridian North and South priced from $759. Reflections Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here are the most affordable College Park apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Meridian North and SouthS1P SouthStudio,1BA$759
Reflections ApartmentsReplicaStudio,1BA$799
Carlton ApartmentsVilla1BR,1BA$810
Turtle Creek - IndianapolisS1 ShellStudio,1BA$859
LandmarkRanierStudio,1BA$870
Pickwick Farms Apartments1 BR, 1 Bath1BR,1BA$954
WoodlakeOne Bedroom Apartment1BR,1BA$961
King's Reserve College Park 55+ Active LivingStudio AlcoveStudio,1BA$1,025
The Grove on Harcourt1x1.5 Large Classic1BR,1BA$1,029
The Manning Apartment HomesStudioStudio,1BA$1,029

Best Value Apartments for Rent in College Park, IN

As of July 12, 2026 the best value apartment in the College Park area is the $1.30 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 $1,750. The second greatest value College Park 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 College Park 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$1.30
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
The Elliott at College Park Apartment HomesTwo Bedroom 1.5 Bath2BR,1.5BA$1.31
Crooked CreekThe Sage (Renovated)2BR,1.5BA$1.61
The Eclipse Apartment HomesThe Tuscana - Upgraded2BR,1BA$1.42
The Grove on Harcourt1x1.5 Large Renovated1BR,1.5BA$1.31
The Villages of Bent Tree ApartmentsThe Meridian - 1 Bedroom 1 Bat1BR,1BA$1.52
Pickwick Farms Apartments2 BR, 2 Bath2BR,2BA$1.37
ReNew at the Crossing1x11BR,1BA$1.41
WoodlakeOne Bedroom Apartment1BR,1BA$1.37

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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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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Pet Friendly Lifestyle
College Park, Indianapolis, IN

Ranked #71

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 $1,029.

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 $769, while the average apartment in College Park costs $1,756.

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 5 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 $117 which is $1,639 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.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Written by: Wendy Melton

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.