Cheap Apartments for Rent in the Edgewood Neighborhood of Indianapolis, IN from $600 (32 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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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
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Estate View
1 to 2 Bedroom Apartments

Estate View

6768 S East StIndianapolis, IN 46227
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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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Crossroads at Southgreen
1 to 2 Bedroom Apartments

Crossroads at Southgreen

5030 Southgreen 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
  • Utilities Included

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.

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Showing Results 1-32, 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 5700 Madison Apartments & Edgewood on Madison priced from $790. Pine Glen has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Edgewood apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$790
Pine GlenCedar Vintage1BR,1BA$799
South & MadisonE2Studio,1BA$809
Cherry GlenStudioStudio,1BA$819
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$849
Parc Bordeaux ApartmentsStudioStudio,1BA$850
Buckridge at Southport1BR/1.0BA1BR,1BA$900
Ninth Avenue ApartmentsThe SaffronStudio,1BA$919
Sherman VillageGarden Apt1BR,1BA$925
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$928

Best Value Apartments for Rent in Edgewood, IN

As of May 31, 2026 the best value apartment in the Edgewood area is the $0.91 price per square foot 3 Bedroom Townhome Model at SOUTHPORT AT BUCK CREEK in the in the Winchester Village neighborhood starting from $1,629. The second greatest value Edgewood apartment is the Sherman Model at Strawbridge Green starting at $1,560 with a $1.19 price per square foot in the Shelby Street-Epler Avenue 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 CREEK3 Bedroom Townhome3BR,2.5BA$0.91
Strawbridge GreenSherman3BR,2.5BA$1.19
Capital PlaceThree Bedroom 1.5 Bath TH w/Den3BR,1.5BA$1.16
Fox ClubTwo Bedroom Two Bath2BR,2BA$1.13
Windsor CourtTwo Bedroom Two Bathroom (C3M)2BR,2BA$1.15
South & MadisonB22BR,1BA$1.19
Martinique Terrace1 Bed/1 Ba Up Mini W/D1BR,1BA$1.18
Buckridge at Southport1BR/1.0BA1BR,1BA$1.25
Sherman VillageGarden Apt1BR,1BA$1.28
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$1.31

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 $928.

What is the price of a cheap apartment in Edgewood?

The cheapest apartment in Edgewood is Pine Glen which is listed at $799, while the average apartment in Edgewood costs $1,399.

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 32 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 $221 which is $1,178 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.

Helpful Local Expert Guides

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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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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.

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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.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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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

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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.

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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.

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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.

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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.