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$1,247 - $1,782
Total Monthly Price
Base Rent$1,247 - $1,782
Total Monthly PriceVaries
Indy 7925
7925 Palawan DrIndianapolis, IN 46239
Cheap Apartments for Rent in the Five Points Neighborhood of Indianapolis, IN from $805 (7 Rentals)
Search the lowest-cost Apartments available for rent right now in the Five Points area of Indianapolis.
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$1,258 - $1,727
Total Monthly Price
Base Rent$1,258 - $1,727
Total Monthly PriceVaries
The 85Twenty
8520 Sierra Ridge DrIndianapolis, IN 46239
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$845 - $9451 to 2 Bedroom Apartments Available Now
Churchman Woods
5350 Churchman AveIndianapolis, IN 46203
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.
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$953 - $1,8071 to 4 Bedroom Apartments Available Now
Park View at Beech Grove
3641 Dandelion AveIndianapolis, IN 46203
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1 to 4 Bedroom Apartments
Stratford Place Apartments
6050 Castleford DrIndianapolis, IN 46203
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1 to 2 Bedroom Apartments
Farhill Lake Apartments
4927 Encore DrIndianapolis, IN 46237
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
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1 to 4 Bedroom Apartments
Franklin Cove
8505 Faywood DrIndianapolis, IN 46239
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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 1 Bedroom Apartments | $1,297 | $845 | $1,448 |
| Five Points 2 Bedroom Apartments | $1,433 | $945 | $1,659 |
| Five Points 3 Bedroom Apartments | $1,660 | $1,549 | $1,782 |
| Five Points 4 Bedroom Apartments | $1,646 | $1,486 | $1,807 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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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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 Churchman Woods priced from $845. Heathmoore - Indianapolis has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,135. Here are the most affordable Five Points apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Churchman Woods | 1 BEDROOM | 1BR,1BA | $845 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1,135 |
| The 85Twenty | A1-LP | 1BR,1BA | $1,333 |
Best Value Apartments for Rent in Five Points, IN
As of September 12, 2026 the best value apartment in the Five Points area is the $1.34 price per square foot 3 Bedroom Model at Park View at Beech Grove in the in the Southeast Indianapolis neighborhood starting from $1,612. The second greatest value Five Points apartment is the A1-LP Model at The 85Twenty starting at $1,333 with a $1.65 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 | $1.34 |
| The 85Twenty | A1-LP | 1BR,1BA | $1.65 |
| Indy 7925 | A1R- 1x1 | 1BR,1BA | $1.98 |
| Heathmoore - Indianapolis | 1 Bed 1 Bath | 1BR,1BA | $1.97 |
| Churchman Woods | 1 BEDROOM | 1BR,1BA | $1.61 |
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 Churchman Woods which is listed at $845, while the average apartment in Five Points costs $1,448.
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 $885 which is $563 cheaper than the average rent for all rentals in Five Points.
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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Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.
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Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.