Cheap Apartments for Rent in the Devonshire Neighborhood of Indianapolis, IN from $400 (28 Rentals)

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

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Chateau De Ville
Studio to 4 Bedroom Apartments

Chateau De Ville

5303 Rue De VilleIndianapolis, IN 46220
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The Lodge Apartments
1 to 2 Bedroom Apartments

The Lodge Apartments

4816 Alsuda DrIndianapolis, IN 46205
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-28, Page 1 of 1

Devonshire, Indianapolis, IN Local Guide

Cheapest Available Devonshire Apartments for Rent

 

The cheapest available apartment rental in the Devonshire area of Indianapolis, IN is a Studio unit found at Franklin Studios priced from $725. Monon Park, Managed by Buckingham Monon Living has the second lowest priced unit, which is a 1 Bed apartment currently listed from $821. Here are the most affordable Devonshire apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Franklin StudiosStudioStudio,1BA$725
Monon Park, Managed by Buckingham Monon Living1 Bed 1 Bath1BR,1BA$821
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$842
Timber Point ApartmentsThe Bonelli2BR,2BA$875
M Club ApartmentsB12BR,1BA$881
Lake Castleton ApartmentsCongressional1BR,1BA$896
A62 ApartmentsLePetit1BR,1BA$899
Chateau De VilleBordeauxStudio,1BA$923
Williamsburg NorthAshland1BR,1BA$950
Trails at LakesideVictoria1BR,1BA$970

Best Value Apartments for Rent in Devonshire, IN

As of January 10, 2026 the best value apartment in the Devonshire area is the $1.15 price per square foot B4 - Townhome Model at Veridian Castleton in the in the Berkley Place neighborhood starting from $1,428. The second greatest value Devonshire apartment is the 2Bd/2Ba Dn W/D Model at Ivy Knoll Apartments starting at $1,499 with a $1.25 price per square foot in the Roxbury neighborhood. Here is today’s list of the best values for Devonshire apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Veridian CastletonB4 - Townhome2BR,1.5BA$1.15
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.25
Timber Point ApartmentsThe Ashland1BR,1BA$1.08
Castleton Manor ApartmentsThe Banyan1BR,1.5BA$1.25
The Lenox Apartment Homes1 Bed 1 Bath Apartment - Renovated1BR,1BA$1.32
Williamsburg NorthAshland1BR,1BA$1.21
Fallwood1 Bed/1.5 Ba Dn1BR,1.5BA$1.43
Chateau in the Woods1 Bd/1 Ba Sm ABY1BR,1BA$1.40
The Life at Harrison Trails1 BED 1 BATH B1BR,1BA$1.34
Monon Park, Managed by Buckingham Monon Living1 Bed 1 Bath1BR,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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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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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Quick Rent Budget Calculator

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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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Pet Friendly Lifestyle
Devonshire, Indianapolis, IN

Ranked #94

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 Devonshire Apartments

What is a cheap apartment in Devonshire?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Devonshire is under $970.

What is the price of a cheap apartment in Devonshire?

The cheapest apartment in Devonshire is Monon Park, Managed by Buckingham Monon Living which is listed at $821, while the average apartment in Devonshire costs $1,643.

What types of apartments are the cheapest in Devonshire?

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 59 regular apartments in Devonshire 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 Devonshire?

Cheap apartments in Devonshire have an average cost of $183 which is $1,460 cheaper than the average rent for all rentals in Devonshire.

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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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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Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!