Cheap Apartments for Rent in the Edgewood Neighborhood of Indianapolis, IN from $700 (34 Rentals)

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

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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227
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Estate View
1 to 2 Bedroom Apartments

Estate View

6768 S East StIndianapolis, IN 46227

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Windsor Court
1 to 2 Bedroom Apartments

Windsor Court

7302 Queen Anne CtIndianapolis, IN 46227
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South & Madison
Studio to 3 Bedroom Apartments

South & Madison

1819 Madison Village DrIndianapolis, IN 46227
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Ninth Avenue Apartments
Studio to 3 Bedroom Apartments

Ninth Avenue Apartments

4651 Mimi DrIndianapolis, IN 46237
Corporate Housing
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Grand Oaks
1 to 2 Bedroom Apartments

Grand Oaks

7215 Grand Ritz LnIndianapolis, IN 46237
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CrossRoads @ Southgreen
1 to 2 Bedroom Apartments

CrossRoads @ Southgreen

5030 Southgreen DrIndianapolis, IN 46227
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Edgewood - 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!

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Showing Results 1-34, Page 1 of 1

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 Studio unit found at Cherry Glen priced from $799. 5700 Madison Apartments & Edgewood on Madison has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here are the most affordable Edgewood apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Cherry GlenStudioStudio,1BA$799
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$800
South & MadisonE2Studio,1BA$809
Capital PlaceOne Bedroom One Bath TH1BR,1BA$824
Brookwood Apartments1 Bedroom 1 Bathroom1BR,1BA$845
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$849
Parc Bordeaux ApartmentsStudioStudio,1BA$850
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$850
Pine Glen1x1 Classic WL1BR,1BA$870
Buckridge at Southport1BR/1.0BA1BR,1BA$875

Best Value Apartments for Rent in Edgewood, IN

As of August 30, 2026 the best value apartment in the Edgewood area is the $0.99 price per square foot Two Bedroom Two Bath Model at Fox Club in the in the Shelby Street-Epler Avenue neighborhood starting from $985. The second greatest value Edgewood apartment is the Two Bedroom One Bathroom (CN1) Model at Windsor Court starting at $1,060 with a $1.15 price per square foot in the Winchester Village 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.
Fox ClubTwo Bedroom Two Bath2BR,2BA$0.99
Windsor CourtTwo Bedroom One Bathroom (CN1)2BR,1BA$1.15
CrossRoads @ Madison ParkCrossRoads @ Madison Park - 012BR,1BA$1.10
Capital PlaceTwo Bedroom One Bath w/Den2BR,1BA$1.28
Martinique Terrace1 Bed/1 Ba Up Mini W/D1BR,1BA$1.25
CrossRoads @ SouthgreenCrossRoads @ Southgreen - 615-1...2BR,1BA$1.20
Brookwood Apartments1 Bedroom 1 Bathroom1BR,1BA$1.10
Sherman VillageGarden Apt1BR,1BA$1.28
Buckridge at Southport1BR/1.0BA1BR,1BA$1.22
SOUTHPORT AT BUCK CREEK1 Bedroom1BR,1BA$1.29

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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!

Frequently Asked Questions about Cheap Edgewood Apartments

What is a cheap apartment in Edgewood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Edgewood is under $875.

What is the price of a cheap apartment in Edgewood?

The cheapest apartment in Edgewood is Capital Place which is listed at $824, while the average apartment in Edgewood costs $1,160.

What types of apartments are the cheapest in Edgewood?

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 17 regular apartments in Edgewood 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 Edgewood?

Cheap apartments in Edgewood have an average cost of $116 which is $1,044 cheaper than the average rent for all rentals in Edgewood.

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.

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