Cheap Apartments for Rent in the Herron Morton Place Neighborhood of Indianapolis, IN from $500 (47 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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9 On Canal
Rent Specials
$1,060 - $3,315
Total Monthly Price

Total Monthly Price

Base Rent
$1,060 - $3,315
Total Monthly Price
$1,060 - $3,315
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Ralston Apartments
Rent Specials
$1,216 - $3,283
Total Monthly Price

Total Monthly Price

Base Rent
$1,216 - $3,283
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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The Whittier
2 Bedroom Apartments

The Whittier

411 E 16th StIndianapolis, IN 46202
  • Utilities Included
Showing Results 1-47, Page 1 of 1

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 34 North Apartments priced from $725. New Bridge has the second lowest priced unit, which is a Studio apartment currently listed from $779. Here are the most affordable Herron Morton Place apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
34 North ApartmentsStudioStudio,1BA$725
New BridgeStudio - The EnclaveStudio,1BA$779
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
River West FlatsOne Bedroom One Bath - The Driftwood1BR,1BA$919
CityView on Meridian1 Bedroom/1Bathroom 6451BR,1BA$999
The Residence at White River ApartmentsCOOPER - A21BR,1BA$1,025
9 On CanalStudio - StockholmStudio,1BA$1,060
Artistry IndyJacquelineStudio,1BA$1,087
RiverviewCalumetStudio,1BA$1,195
Penn Street Tower ApartmentsWabash: Floors 02-071BR,1BA$1,199

Best Value Apartments for Rent in Herron Morton Place, IN

As of June 22, 2026 the best value apartment in the Herron Morton Place area is the $1.63 price per square foot 3 Bedroom 2 Bath Model at The Block in the in the Riley neighborhood starting from $2,879. The second greatest value Herron Morton Place apartment is the The Arch Model at Nine+Eighteen starting at $2,025 with a $1.84 price per square foot in the Near North Indianapolis 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 Block3 Bedroom 2 Bath3BR,2BA$1.63
Nine+EighteenThe Arch2BR,2BA$1.84
WesmontTwo Bedroom - Body and Soul2BR,2BA$1.76
The E'LaanThe Vonnegut1BR,1BA$1.84
The Avenue2x22BR,2BA$1.16
River West FlatsTwo Bedroom One Bath - The Hudson2BR,1BA$1.71
Penn Street Tower ApartmentsSt. Clair: Floors 10-121BR,1BA$1.76
CityView on Meridian1 Bedroom/1Bathroom 6451BR,1BA$1.55
The Residence at White River ApartmentsREID - A11BR,1BA$1.70
34 North ApartmentsStudioStudio ,1BA$1.61

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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 #14

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 $1,199.

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

The cheapest apartment in Herron Morton Place is New Bridge which is listed at $809, while the average apartment in Herron Morton Place costs $2,291.

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 70 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 $356 which is $1,935 cheaper than the average rent for all rentals in Herron Morton Place.

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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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

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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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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

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Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

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My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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