Cheap Apartments for Rent in the Herron Morton Place Neighborhood of Indianapolis, IN from $500 (40 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Herron Morton Place area of Indianapolis.

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

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

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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Axis
Rent Specials
$1,164 - $3,244Studio to 2 Bedroom Apartments Available Now

Axis

401 N Senate AveIndianapolis, IN 46204
Corporate Housing
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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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property at 140 E 19th St

140 E 19th St

IndianapolisIN46202
property at 410 E 16th St

410 E 16th St

IndianapolisIN46202

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Herron Morton Place, Indianapolis, IN Local Guide

Cheapest Available Herron Morton Place Apartments for Rent

 

The cheapest available apartment rental in the Herron Morton Place area of Indianapolis, IN is a Studio unit found at Vivio on Tenth priced from $900. 1010 Central has the second lowest priced unit, which is a 1 Bed apartment currently listed from $956. Here are the most affordable Herron Morton Place apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Vivio on Tenth0x1-442Studio,1BA$900
1010 CentralLoft 50%1BR,1BA$956
Circle City ApartmentsWinterhouse Studio 410Studio,1BA$995
Maryden on CentralThe Escape at MarydenStudio,1BA$1,005
Artistry IndyJacquelineStudio,1BA$1,019
Wesley PlacePeckStudio,1BA$1,026
Gathyr ApartmentsBellStudio,1BA$1,049
The Residence at White River ApartmentsHARRISON - B12BR,1BA$1,115
River West Flats1 Bedroom 1 Bathroom1BR,1BA$1,124
Buckingham & BalmoralBalmoral Studio Apartment- 600 Sq. Ft.Studio,1BA$1,130

Best Value Apartments for Rent in Herron Morton Place, IN

As of October 27, 2025 the best value apartment in the Herron Morton Place area is the $1.10 price per square foot 1 Bedroom 1 Bath Model at The Block in the in the Riley neighborhood starting from $1,599. The second greatest value Herron Morton Place apartment is the STOKELY - C1 Model at The Residence at White River Apartments starting at $1,545 with a $1.22 price per square foot in the Cheswick Place neighborhood. Here is today’s list of the best values for Herron Morton Place apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Block1 Bedroom 1 Bath1BR,1BA$1.10
The Residence at White River ApartmentsSTOKELY - C13BR,2BA$1.22
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.28
Nine+EighteenThe Arch2BR,2BA$1.85
Townhomes at Fall Creek PlaceF2BR,1BA$1.61
2147 North Pennsylvania Street, Unit 2147 N Pennsylvania St. Unit B2147 North Pennsylvania Street2BR,1BA$1.73
Colmar ApartmentsFront One Bedroom1BR,1BA$1.53
Penn Street Tower ApartmentsWabash: Floors 02-071BR,1BA$1.60
River West Flats2 Bedroom 1 Bathroom2BR,1BA$1.71
1010 CentralGarage 60%1BR,1BA$1.70

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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Quick Rent Budget Calculator

How much rent can you afford?

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
Herron Morton Place, Indianapolis, IN

Ranked #17

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Getting Around the Herron Morton Place Neighborhood in Indianapolis, IN

Walk Score®

80 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

73 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

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 Herron Morton Place Apartments

What is a cheap apartment in Herron Morton Place?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Herron Morton Place is under $1,130.

What is the price of a cheap apartment in Herron Morton Place?

The cheapest apartment in Herron Morton Place is 1010 Central which is listed at $956, while the average apartment in Herron Morton Place costs $2,500.

What types of apartments are the cheapest in Herron Morton Place?

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 50 regular apartments in Herron Morton Place 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 Herron Morton Place?

Cheap apartments in Herron Morton Place have an average cost of $291 which is $2,209 cheaper than the average rent for all rentals in Herron Morton Place.

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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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! 

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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.