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

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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. Lake Castleton Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $814. Here are the most affordable Devonshire apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Franklin StudiosStudioStudio,1BA$725
Lake Castleton ApartmentsLiberty2BR,2BA$814
Timber Point ApartmentsThe Ayers1BR,1BA$835
M Club ApartmentsB12BR,1BA$857
Monon Park, Managed by Buckingham Monon Living1 Bed 1 Bath1BR,1BA$886
Trails at LakesideVictoria1BR,1BA$895
Chateau De VilleBordeauxStudio,1BA$923
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$929
The Lenox Apartment Homes1 Bed 1 Bath Apartment - Classic1BR,1BA$949
Veridian CastletonA31BR,1BA$949

Best Value Apartments for Rent in Devonshire, IN

As of November 25, 2025 the best value apartment in the Devonshire area is the $1.15 price per square foot 2 Bed/2Ba Den W/D Up Model at Fallwood in the in the United Northeast neighborhood starting from $1,495. The second greatest value Devonshire 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 Devonshire apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fallwood2 Bed/2Ba Den W/D Up2BR,2BA$1.15
Veridian CastletonB4 - Townhome2BR,1.5BA$1.13
Ivy Knoll Apartments2Bd/2Ba Dn W/D2BR,2BA$1.25
Castleton Manor ApartmentsThe Banyan1BR,1.5BA$1.25
The Lenox Apartment Homes1 Bed 1 Bath Apartment - Classic1BR,1BA$1.19
Williamsburg NorthAshland1BR,1BA$1.21
Timber Point ApartmentsThe Ayers1BR,1BA$1.15
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$1.39
M Club ApartmentsA11BR,1BA$1.31
Monon Park, Managed by Buckingham Monon Living1 Bed 1 Bath1BR,1BA$1.48

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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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

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
Devonshire, Indianapolis, IN

Ranked #81

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Getting Around the Devonshire Neighborhood in Indianapolis, IN

Walk Score®

49 / 100

Car-Dependent

Most errands require a car

Bike Score®

46 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

15 / 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 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 $949.

What is the price of a cheap apartment in Devonshire?

The cheapest apartment in Devonshire is Lake Castleton Apartments which is listed at $826, while the average apartment in Devonshire costs $1,647.

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 51 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 $204 which is $1,443 cheaper than the average rent for all rentals in Devonshire.

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.