Cheap Apartments for Rent in the Faith Knoll Neighborhood of Indianapolis, IN from $500 (22 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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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Hampshire Court
1 to 2 Bedroom Apartments

Hampshire Court

2455 Rolls DrIndianapolis, IN 46268
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The Meridian North
1 to 3 Bedroom Apartments

The Meridian North

2100 Westlane RdIndianapolis, IN 46260
Corporate Housing
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Lake Camelot Apartments
1 to 3 Bedroom Apartments

Lake Camelot Apartments

6475 Excalibur CtIndianapolis, IN 46268
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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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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 Studio unit found at Rosewood Commons priced from $729. Dogwood Glen has the second lowest priced unit, which is a Studio apartment currently listed from $745. Here are the most affordable Faith Knoll apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Rosewood CommonsStudioStudio,1BA$729
Dogwood GlenStudio 1 BathStudio,1BA$745
The Meridian North and SouthA7S South1BR,1BA$754
Cambridge CommonsStudio1BR,1BA$799
Westbury CourtStandard One Bedroom (SN2)1BR,1BA$801

Best Value Apartments for Rent in Faith Knoll, IN

As of December 04, 2025 the best value apartment in the Faith Knoll area is the $1.07 price per square foot Lilac Model at Everly at Meridian Hills in the in the Faith Knoll neighborhood starting from $1,499. 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$1.07
Private Reserve TownhomesThe Newburgh2BR,1.5BA$1.07
Edison at Meridian Hills2 Bedroom 1 Bath2BR,1BA$1.28
The Life at Creekside ReserveJUNIPER2BR,1.5BA$1.23
The AbbyThe Berkshire2BR,2BA$1.38
Park Place Apartments2 Bedroom Remodeled2BR,1BA$1.37
The Grove on Harcourt1 Bed 1.5 Bath Large Apartment - Renovated1BR,1.5BA$1.15
Covered BridgeOne Bedroom One Bath1BR,1BA$1.21
Lake Camelot Apartments1 Bedroom Garden1BR,1BA$1.15
The Grove on 79th1 Bed 1 Bath Apartment - Classic1BR,1BA$1.39

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Pet Friendly Lifestyle
Faith Knoll, Indianapolis, IN

Ranked #111

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

Pet Friendliness Lifestyle Score

3.0
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 $850.

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 $754, 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 30 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 $125 which is $4,282 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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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!