Cheap Apartments for Rent in the Faith Knoll Neighborhood of Indianapolis, IN from $500 (17 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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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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Lake Camelot Apartments
1 to 3 Bedroom Apartments

Lake Camelot Apartments

6475 Excalibur CtIndianapolis, IN 46268
  • Utilities Included

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 Studio unit found at Rosewood Commons priced from $705. Lake Camelot Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $819. Here are the most affordable Faith Knoll apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Rosewood CommonsStudioStudio,1BA$705
Lake Camelot Apartments1 Bedroom Garden1BR,1BA$819
Estates at Crystal BayTwo Bedroom One Bath2BR,1BA$825
Cambridge CommonsOne Bed One Bath1BR,1BA$825
The Meridian North and SouthA8S South1BR,1BA$844

Best Value Apartments for Rent in Faith Knoll, IN

As of September 20, 2025 the best value apartment in the Faith Knoll area is the $1.06 price per square foot Lilac Model at Everly at Meridian Hills in the in the Faith Knoll neighborhood starting from $1,489. The second greatest value Faith Knoll apartment is the The Newburgh Model at Private Reserve Townhomes starting at $1,379 with a $1.07 price per square foot in the Spring Arbor 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.
Everly at Meridian HillsLilac2BR,2BA$1.06
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
The Woods of Eagle CreekThe Roost: Three Bedroom Townhome3BR,1.5BA$1.40
Edison at Meridian Hills2 Bedroom 1 Bath2BR,1BA$1.28
Westbury CourtTwo Bedroom One Bathroom (CN1)2BR,1BA$1.04
Park Place Apartments2 Bedroom Remodeled2BR,1BA$1.26
The Grove on Harcourt1 Bed 1.5 Bath Large Apartment - Reno1BR,1.5BA$1.25
Covered BridgeOne Bedroom One Bath1BR,1BA$1.21
Lake Camelot Apartments1 Bedroom Garden1BR,1BA$1.17
Estates at Crystal BayOne Bedroom One Bath1BR,1BA$1.33

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Pet Friendly Lifestyle
Faith Knoll, Indianapolis, IN

Ranked #101

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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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 $892.

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

The cheapest apartment in Faith Knoll is Lake Camelot Apartments which is listed at $819, while the average apartment in Faith Knoll costs $1,415.

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 37 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 $139 which is $1,276 cheaper than the average rent for all rentals in Faith Knoll.

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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.