
Cheap Apartments for Rent in the Downtown Indianapolis Neighborhood of Indianapolis, IN from $400 (176 Rentals) Page 2 of 4
Search the lowest-cost Apartments available for rent right now in the Downtown Indianapolis area of Indianapolis.


Riverview

264 N Holmes Ave

264 N Holmes Ave

333 Penn Apartments

3531 Garden Ave

2159-2159 Bellefontaine St, Unit 2157

Garden Arch Apartments

1527 Prospect St

306 E 19th St
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.

1354 Oliver Ave

330 N Arsenal Ave

Lockerbie Lofts

2131 North

Apollo & Aurora Apartments

1120 Dawson St

Penn Street Tower Apartments

Wesmont

Pinnex

Rise on Meridian
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.

Union Square

The Grounds

332 N Arsenal Ave

Nine+Eighteen

Gardens of Canal Court

The Continental Towers at Vermont Place

Circa Apartments

The Leo

Five Twenty Virginia

Axis
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Mozzo apartments

Temple Lofts

Colmar Apartments

CityWay

736 E Morris St

Total Monthly Price
2031 Broadway St, Unit Broadway

1541 E Ohio St

512 S State Ave

800 Capitol

2235 Doctor M.L.K. Jr St
Downtown Indianapolis - One of the Best Affordable Neighborhoods in Indianapolis
Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

Koehne Commons Apartments

INDY INDIE ARTIST COLONY

The Jordan

Windsor

Barbee

PICCADILLY

The Harrison

The Marleigh

Traymore Apartments

The Rotherwood Apartments
Downtown Indianapolis, Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Downtown Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Indianapolis Studio Apartments | $1,297 | $595 | $4,070 |
| Downtown Indianapolis 1 Bedroom Apartments | $1,567 | $497 | $4,071 |
| Downtown Indianapolis 2 Bedroom Apartments | $2,016 | $515 | $6,207 |
| Downtown Indianapolis 3 Bedroom Apartments | $2,167 | $799 | $6,477 |
| Downtown Indianapolis 4 Bedroom Apartments | $1,442 | $600 | $5,672 |
Browse Apartments in this Neighborhood
There are currently 176 rentals with your search options within a 2 mile radius of the Downtown Indianapolis Neighborhood of Indianapolis, IN.
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Frequently Asked Questions about Cheap Downtown Indianapolis Apartments
What is a cheap apartment in Downtown Indianapolis?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Indianapolis is under $891.
What is the price of a cheap apartment in Downtown Indianapolis?
The cheapest apartment in Downtown Indianapolis is 1733 N. Meridian which is listed at $780, while the average apartment in Downtown Indianapolis costs $14,049.
What types of apartments are the cheapest in Downtown Indianapolis?
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 116 regular apartments in Downtown Indianapolis 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 Downtown Indianapolis?
Cheap apartments in Downtown Indianapolis have an average cost of $274 which is $13,775 cheaper than the average rent for all rentals in Downtown Indianapolis.
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

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.

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.

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.

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

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.