Cheap Apartments for Rent in the Edgewood Neighborhood of Indianapolis, IN from $300 (15 Rentals)

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

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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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227
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Rosedale Hills
Studio to 3 Bedroom Apartments

Rosedale Hills

2139 E Hanna AveIndianapolis, IN 46227
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Crossroads at Madison
Studio to 2 Bedroom Apartments

Crossroads at Madison

4725 Madison AveIndianapolis, IN 46227
  • Utilities Included
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Estate View
1 Bedroom Apartments

Estate View

6768 S East StIndianapolis, IN 46227

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.

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Windsor Court
1 to 2 Bedroom Apartments

Windsor Court

7302 Queen Anne CtIndianapolis, IN 46227
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Crossroads at Southgreen
1 to 2 Bedroom Apartments

Crossroads at Southgreen

5030 Southgreen DrIndianapolis, IN 46227
  • Utilities Included

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.

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South & Madison
Studio to 3 Bedroom Apartments

South & Madison

1819 Madison Village DrIndianapolis, IN 46227

Edgewood, Indianapolis, IN Local Guide

Cheapest Available Edgewood Apartments for Rent

 

The cheapest available apartment rental in the Edgewood area of Indianapolis, IN is a 1 Bed unit found at Stone Lake priced from $650. 5700 Madison Apartments & Edgewood on Madison has the second lowest priced unit, which is a Studio apartment currently listed from $765. Here are the most affordable Edgewood apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Stone Lake1X11BR,1BA$650
5700 Madison Apartments & Edgewood on MadisonEdgewood - LoftStudio,1BA$765
South & MadisonE2Studio,1BA$840
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$849
Parc Bordeaux ApartmentsStudioStudio,1BA$850

Best Value Apartments for Rent in Edgewood, IN

As of June 03, 2025 the best value apartment in the Edgewood area is the $0.89 price per square foot 2 Bedroom Townhome Model at SOUTHPORT AT BUCK CREEK in the in the Thompson-Edgewood neighborhood starting from $1,239. The second greatest value Edgewood apartment is the Two Bedroom Two Bath Model at Fox Club starting at $1,125 with a $1.13 price per square foot in the Thompson-Edgewood neighborhood. Here is today’s list of the best values for Edgewood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
SOUTHPORT AT BUCK CREEK2 Bedroom Townhome2BR,1.5BA$0.89
Fox ClubTwo Bedroom Two Bath2BR,2BA$1.13
Ninth Avenue ApartmentsThe Lily2BR,1BA$1.38
Capital PlaceTwo Bedroom One Bath TH2BR,1BA$1.28
Martinique Terrace1Bd/1Ba-Dn Mini W/D1BR,1BA$1.35
Strawbridge GreenEmerson2BR,1BA$1.17
Pine GlenOne Bedroom One Bath1BR,1BA$1.11
Windsor CourtDeluxe One Bedroom (AN1)1BR,1BA$1.29
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$1.31
Stone Lake1X11BR,1BA$1.00

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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Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, and customized analysis for South Indianapolis. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, features that make it easier to raise kids, raising pets, transit options, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Edgewood Neighborhood in Indianapolis, IN

Walk Score®

53 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

28 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap Edgewood Apartments

What is the Cheapest Studio apartment in Edgewood?

Currently the most affordable Cheap Studio Apartment in Edgewood is at 5700 Madison Apartments & Edgewood on Madison listed at $765.

How much is rent for a Cheap One Bedroom Edgewood Apartment?

The lowest price for a Cheap One Bedroom Edgewood Apartment is $650 at Stone Lake.

What is the lowest price for a Cheap Two Bedroom Edgewood Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Edgewood is starting from $800 at Stone Lake.

What is the most affordable Edgewood Three Bedroom Apartment?

The best deal on a cheap Edgewood Three Bedroom Apartment rental is at Strawbridge Green and starts from $1,035.

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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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.

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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.