Cheap Apartments for Rent in the Herron Morton Place Neighborhood of Indianapolis, IN from $543 (55 Rentals)

How Many Bedrooms?Done
Price OptionsDone
Price Range
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article
close
View Me
Ralston Apartments
Rent Specials
$1,090 - $2,895

Total Monthly Price

Base Rent$1,090 - $2,895
Total Monthly Price$1,090 - $2,895
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

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

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.

Read Article
close
View Me
9 On Canal
Rent Specials
$1,163 - $3,568

Total Monthly Price

Base Rent$1,163 - $3,568
Total Monthly Price$1,163 - $3,568
Studio to 3 Bedroom Apartments Available Now

9 On Canal

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

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

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

Read Article

Herron Morton Place - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

Read Article
close
View Me
Bon Air Residence
$1,750 - $2,250

Total Monthly Price

Base Rent$1,750 - $2,250
Total Monthly Price$1,750 - $2,250
1 Bedroom Apartments Available Now

Bon Air Residence

21-23 W 16th StIndianapolis, IN 46202
Furnished
  • Verified
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
Showing Results 1-50, Page 1 of 2

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. The Commons on 25th has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here are the most affordable Herron Morton Place apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
34 North ApartmentsStudioStudio, 1BA$725
The Commons on 25thStudio - The EnclaveStudio, 1BA$749
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio, 1BA$799
Artistry IndyEdie (EcoSuite)Studio, 1BA$984
Vivio on Tenth0x1-S1-401Studio, 1BA$999
522 Fletcher Ave*ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ...1BR, 1BA$999
CityView on Meridian1 Bedroom/1Bathroom 6451BR, 1BA$999
The MarleighStudioStudio, 1BA$999
Penn Street Tower ApartmentsWabash: Floors 02-071BR, 1BA$1,049
RiverviewCalumetStudio, 1BA$1,095

Best Value Apartments for Rent in Herron Morton Place, IN

As of September 22, 2026 the best value apartment in the Herron Morton Place area is the $1.42 price per square foot Star Townhome Model at Pulliam Square in the Riley neighborhood starting from $2,498. The second greatest value Herron Morton Place apartment is the 1 Bedroom 1 Bath Model at The Block in the Riley neighborhood starting at $1,829 with a $1.26 price per square foot. 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.
Pulliam SquareStar Townhome2BR, 2BA$1.42
The Block1 Bedroom 1 Bath1BR, 1BA$1.26
Ralston ApartmentsIris2BR, 2BA$1.52
The E'LaanThe Vonnegut1BR, 1BA$1.53
The Avenue2x22BR, 2BA$1.18
Penn Street Tower ApartmentsWabash: Floors 13-151BR, 1BA$1.59
Colmar ApartmentsBack One Bedroom1BR, 1BA$1.53
522 Fletcher Ave*ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ...1BR, 1BA$1.37
The MeridianThe Delaware2BR, 1BA$1.24
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.

Read Article
Decorative image

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article

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

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Herron Morton Place, Indianapolis, IN

Ranked #16

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

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 $1,095.

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

The cheapest apartment in Herron Morton Place is The Meridian which is listed at $849, while the average apartment in Herron Morton Place costs $1,549.

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 103 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 $283 which is $1,266 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

decorative image for Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods article

Welcome to Indy: A Local Expert's Guide to the City's Best Short-Term Rental Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I am the local expert for ApartmentHomeLiving.com in the Indianapolis area. Being born and raised in Indiana, I know the true meaning of Hoosier hospitality.

decorative image for Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home article

Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Written by: Wendy Melton

Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

decorative image for Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods article

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

Written by: Wendy Melton

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.

decorative image for Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters article

Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

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.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for How Commercial-to-Residential Property Conversions Help the Housing Crisis article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.