281 N Warman Ave
IndianapolisIN46222
Cheap Homes for Rent in Downtown Indianapolis Neighborhood of Indianapolis, IN from $400 (36 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Indianapolis area of Indianapolis.
1043 N Holmes Ave
IndianapolisIN46222
4 E Washington St
IndianapolisIN46204
1111 Medford Ave
IndianapolisIN46222
1702 W Michigan St
IndianapolisIN46222
1702W W Michigan St
IndianapolisIN46222
1058 N Traub Ave
IndianapolisIN46222
1022 Laurel St
IndianapolisIN46203
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.
2060 N Delaware St
IndianapolisIN46202
954 N Concord St
IndianapolisIN46222
3127 W 10th St
IndianapolisIN46222
1230 N Belmont Ave
IndianapolisIN46222
328 N Elder Ave
IndianapolisIN46222
37 West St Clair Street
IndianapolisIN46204
1329 E Market St
IndianapolisIN46202
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.
3 E Washington St
IndianapolisIN46204
146 E 19th St
IndianapolisIN46202
340 Prospect St
IndianapolisIN46225
1413 N Concord St
IndianapolisIN46222
330 N Randolph St
IndianapolisIN46201
2 E Washington St
IndianapolisIN46204
567 N Belmont Ave
IndianapolisIN46222
1413 N Mount Street
IndianapolisIN46222
1717 N Talbott St
IndianapolisIN46202
1048 High St
IndianapolisIN46225
2222 Groff Ave
IndianapolisIN46222
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.
1823 Hoyt Ave
IndianapolisIN46203
501 Madison Ave
IndianapolisIN46225
626 E 15th St
IndianapolisIN46202
254 N Reisner St
IndianapolisIN46222
1601 N Delaware St
IndianapolisIN46202
1011 Dreier Pl
IndianapolisIN46203
829 N Pennsylvania St
IndianapolisIN46204
2310 N Kenwood Ave
IndianapolisIN46208
1631 Columbia Ave
IndianapolisIN46202
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
913 Massachusetts Ave
IndianapolisIN46202
Showing Results 1-36, Page 1 of 1
Downtown Indianapolis, Indianapolis, IN Local Guide
How much does it cost to rent a home in Downtown Indianapolis?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Indianapolis 2 Bedroom Homes for Rent | $1,815 | $845 | $4,700 |
| Downtown Indianapolis 3 Bedroom Homes for Rent | $2,211 | $1,250 | $3,900 |
| Downtown Indianapolis 4 Bedroom Homes for Rent | $2,796 | $1,375 | $5,000 |
Browse Homes for Rent in this Neighborhood
There are currently 36 rentals with your search options within a 2 mile radius of the Downtown Indianapolis Neighborhood of Indianapolis, IN.
Explore Indianapolis
Downtown Indianapolis, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
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Cheapest Available Downtown Indianapolis Apartments for Rent
The cheapest available apartment rental in the Downtown Indianapolis area of Indianapolis, IN is a 1 Bed unit found at Union at 16th priced from $684. The Washington has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable Downtown Indianapolis apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Union at 16th | 1 Bed 1 Bath | 1BR,1BA | $684 |
| The Washington | One Bedroom - Sublevel | 1BR,1BA | $850 |
| The Seminole | 1br | 1BR,1BA | $938 |
| Devonshire Apartments in Downtown Indianapolis | 1BR/1.0BA | 1BR,1BA | $990 |
| Lockefield Gardens | Standard One Bedroom (S1) | 1BR,1BA | $991 |
| Indy Colonial Apartments | 1 Bed, 1 bath | 1BR,1BA | $1,000 |
| Senate Manor | 1.1 Ap | 1BR,1BA | $1,005 |
| Lofts on Madison | Studio | Studio,1BA | $1,049 |
| College Manor | 1 BR | 1BR,1BA | $1,050 |
| Maxwell Apartments | Milan | Studio,1BA | $1,054 |
Best Value Apartments for Rent in Downtown Indianapolis, IN
As of July 11, 2025 the best value apartment in the Downtown Indianapolis area is the $1.08 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,950. The second greatest value Downtown Indianapolis apartment is the 1 Bedroom 1 Bath Model at The Block starting at $1,599 with a $1.10 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Downtown Indianapolis apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Shoemaker Building | loft | 2BR,2BA | $1.08 |
| The Block | 1 Bedroom 1 Bath | 1BR,1BA | $1.10 |
| 1613 Nowland Ave, Unit B | 1613 Nowland Ave | 2BR,2.5BA | $1.32 |
| 1003 Broadway St, Unit 1003 Broadway St apt 2 | 1003 Broadway St | 2BR,2BA | $1.25 |
| El Dorado | 3 Bedroom 1 Bath | 3BR,1BA | $1.07 |
| 1641 E Michigan St, Unit C | 1641 E Michigan St | 2BR,1BA | $1.31 |
| Van Dyke | Van Dyke 1B 980 | 1BR,1BA | $1.25 |
| Proctor Place | 2 Bedroom | 2BR,1BA | $1.23 |
| Stadium Lofts & Flats | Loft J | Studio ,1BA | $1.34 |
| The Seminole | 1br | 1BR,1BA | $1.28 |
Quick Rent Budget Calculator
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Frequently Asked Questions about Downtown Indianapolis
What type of rentals are currently available in Downtown Indianapolis?
There are currently 352 Apartments for Rent in Downtown Indianapolis, IN with pricing that ranges from $550 to $9,114. There are also 179 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Indianapolis ranging from $425 to $5,000.
What is the current price range for Rental Homes in Downtown Indianapolis?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Indianapolis ranges from $425 to $5,000 with an average monthly rent of $1,734.
How much are larger Three and Four Bedroom Rentals in Downtown Indianapolis?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Indianapolis range from $1,285 to $9,114, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $3,900. Four Bedroom Single-Family rentals are also available starting from $1,375 and Four Bedroom Apartments start at $550.
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.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.