Cheap Apartments for Rent in the Faith Knoll Neighborhood of Indianapolis, IN from $500 (19 Rentals)

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

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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268
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Lake Camelot Apartments
1 to 3 Bedroom Apartments

Lake Camelot Apartments

6475 Excalibur CtIndianapolis, IN 46268
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The Meridian North
1 to 3 Bedroom Apartments

The Meridian North

2100 Westlane RdIndianapolis, IN 46260
Corporate Housing

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.

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Faith Knoll, Indianapolis, IN Local Guide

Cheapest Available Faith Knoll Apartments for Rent

 

The cheapest available apartment rental in the Faith Knoll area of Indianapolis, IN is a 1 Bed unit found at The Meridian North and South priced from $699. Lake Camelot Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $802. Here are the most affordable Faith Knoll apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Meridian North and SouthA2S South1BR,1BA$699
Lake Camelot Apartments1 Bedroom Garden1BR,1BA$802
AnnhurstOne Bed One Bath1BR,1BA$809
Covered BridgeOne Bedroom One Bath1BR,1BA$809
Reflections ApartmentsExpressionsStudio,1BA$844

Best Value Apartments for Rent in Faith Knoll, IN

As of January 21, 2026 the best value apartment in the Faith Knoll area is the $1.07 price per square foot The Newburgh Model at Private Reserve Townhomes in the in the Spring Arbor neighborhood starting from $1,379. The second greatest value Faith Knoll apartment is the Iris Model at Everly at Meridian Hills starting at $1,379 with a $1.15 price per square foot in the Faith Knoll neighborhood. Here is today’s list of the best values for Faith Knoll apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
Everly at Meridian HillsIris2BR,1BA$1.15
The Life at Creekside ReserveWILLOW3BR,1.5BA$1.29
Lake Camelot Apartments2 Bedroom Townhome2BR,2BA$1.16
Edison at Meridian Hills2 Bedroom 1 Bath2BR,1BA$1.25
The Grove on 79th1x1,5 Townhome Renovated1BR,1.5BA$1.20
The Grove on Harcourt1x1,5 Upgrade1BR,1.5BA$1.16
Covered BridgeOne Bedroom One Bath1BR,1BA$1.15
Estates at Crystal BayOne Bedroom One Bath1BR,1BA$1.33
The Meridian North and SouthA2S South1BR,1BA$1.24

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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Northwest 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 searching for the best amenities, and the best outdoor access, features that make it easier to raise kids, raising pets, transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Faith Knoll Apartments

What is a cheap apartment in Faith Knoll?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Faith Knoll is under $900.

What is the price of a cheap apartment in Faith Knoll?

The cheapest apartment in Faith Knoll is The Meridian North and South which is listed at $699, while the average apartment in Faith Knoll costs $4,407.

What types of apartments are the cheapest in Faith Knoll?

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 35 regular apartments in Faith Knoll 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 Faith Knoll?

Cheap apartments in Faith Knoll have an average cost of $122 which is $4,285 cheaper than the average rent for all rentals in Faith Knoll.

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.

Articles, How-To's, and Tips

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!