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Cheap Apartments for Rent in the Five Points Neighborhood of Indianapolis, IN from $700 (7 Rentals)
Search the lowest-cost Apartments available for rent right now in the Five Points area of Indianapolis.
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$1,124 - $1,6521 to 3 Bedroom Apartments Available Now
The 85Twenty
8520 Sierra Ridge DrIndianapolis, IN 46239
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$964 - $1,8241 to 4 Bedroom Apartments Available Now
Park View at Beech Grove
3641 Dandelion AveIndianapolis, IN 46203
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$845 - $9451 to 2 Bedroom Apartments Contact Us For Availability
Churchman Woods
5350 Churchman AveIndianapolis, IN 46203
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Showing Results 1-7, Page 1 of 1
Five Points, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in Five Points?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Five Points Studio Apartments | $860 | $720 | $1,000 |
| Five Points 1 Bedroom Apartments | $1,204 | $845 | $2,025 |
| Five Points 2 Bedroom Apartments | $1,325 | $945 | $2,210 |
| Five Points 3 Bedroom Apartments | $1,587 | $1,493 | $1,683 |
| Five Points 4 Bedroom Apartments | $1,663 | $1,503 | $1,824 |
Browse Apartments in this Neighborhood
There are currently 7 rentals with your search options within a 2 mile radius of the Five Points Neighborhood of Indianapolis, IN.
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Five Points, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
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Cheapest Available Five Points Apartments for Rent
The cheapest available apartment rental in the Five Points area of Indianapolis, IN is a 1 Bed unit found at Heathmoore - Indianapolis priced from $925. Indy 7925 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $997. Here are the most affordable Five Points apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $925 |
| Indy 7925 | A1- 1x1 | 1BR,1BA | $997 |
| The 85Twenty | A1-L | 1BR,1BA | $1,149 |
Best Value Apartments for Rent in Five Points, IN
As of October 14, 2025 the best value apartment in the Five Points area is the $1.36 price per square foot 3 Bedroom Model at Park View at Beech Grove in the in the Southeast Indianapolis neighborhood starting from $1,627. The second greatest value Five Points apartment is the A1-SP Model at The 85Twenty starting at $1,174 with a $1.52 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Five Points apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Park View at Beech Grove | 3 Bedroom | 3BR,2.5BA | $1.36 |
| The 85Twenty | A1-SP | 1BR,1BA | $1.52 |
| Indy 7925 | A1R- 1x1 | 1BR,1BA | $1.53 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1.61 |
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Pet Friendly LifestyleFive Points, Indianapolis, IN
Ranked #187
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Getting Around the Five Points Neighborhood in Indianapolis, IN
Walk Score®
19 / 100
Car-Dependent
Almost all errands require a car
Bike Score®
36 / 100
Somewhat Bikeable
Minimal bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Five Points Apartments
What is the price of a cheap apartment in Five Points?
The cheapest apartment in Five Points is Heathmoore - Indianapolis which is listed at $925, while the average apartment in Five Points costs $1,596.
What types of apartments are the cheapest in Five Points?
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 1 regular apartments in Five Points 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 Five Points?
Cheap apartments in Five Points have an average cost of $882 which is $714 cheaper than the average rent for all rentals in Five Points.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
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.
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.