Cheap Homes for Rent in Indianapolis, IN from $300 (370 Rentals)

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Search the lowest-cost Homes available for rent right now in Indianapolis.

property at 6918 Crittenden Ave

$500

Total Monthly Price

Total Monthly Price

Base Rent
$500
Total Monthly Price
$500

3 Bedroom, 1 Bath Home for Rent

Available Now

6918 Crittenden Ave

IndianapolisIN46220

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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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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property at 2905 N Denny St

$700

Total Monthly Price

Total Monthly Price

Base Rent
$700
Total Monthly Price
$700

1 Bedroom, 1.5 Bath Home for Rent

Available Aug 4

2905 N Denny St

IndianapolisIN46218

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.

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Check Out Indianapolis’s Best Affordable Neighborhoods

Learn about Indianapolis and the best places to live with original content written by our Local Expert Wendy Melton

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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.

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Indianapolis, IN Local Guide

Cheapest Neighborhoods for Apartments in Indianapolis, IN

Pricing Updated: 07/29/2026

Current apartment rentals in the Indianapolis, IN area range in price from $518 to $14,232 with an overall median price of $2,507. The three Indianapolis neighborhoods with the lowest median rent pricing are Garfield Park South at $775, West Newton at $1,000, and United Northeast at $599. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Indianapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Garfield Park South$1,100$77521
West Newton$1,200$1,0003
United Northeast$1,239$599103
Keystone-Monon$1,249$83934
Fox Hill Estates$1,314$75476
Carson Heights$1,331$775145
University Heights$1,331$775147
Canterbury Chatard$1,339$64935
Wellington Park Heights$1,344$649110
North Perry$1,359$79093

Cheapest Available Indianapolis Apartments for Rent

 

The cheapest available apartment rental in Indianapolis, IN is a 2 Beds unit found at Lake Castleton Apartments in the Roxbury neighborhood priced from $172. 1010 Central in the Near North Indianapolis neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $518. Here is today’s list of the most affordable Indianapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lake Castleton ApartmentsHancock2BR,1BA$172
1010 CentralLoft 30%1BR,1BA$518
D&T Nest0 Bedroom 1 Bath - 56981Studio,1BA$575
Serenity Manor 55+ Independent Active LivingStudioStudio,1BA$659
Franklin StudiosStudioStudio,1BA$665
Glenstone StudiosStudioStudio,1BA$665
Elmtree ParkStudio 1 BathStudio,1BA$695
Meridian TowersStudio ApartmentStudio,1BA$699
Oxmoor Indy1BR/1.0BA1BR,1BA$699
Maple Creek VillageStudioStudio,1BA$700

Best Value Apartments for Rent in Indianapolis, IN

As of July 29, 2026 the best value apartment in the Indianapolis area is the $0.75 price per square foot 246 N Beville Ave Model at 246 N Beville Ave, Unit 1 in the in the Indy East neighborhood starting from $1,500. The second greatest value Indianapolis apartment is the #4 Model at 945 Woodruff Place Middle Drive starting at $1,495 with a $0.98 price per square foot in the Martindale neighborhood. Here is today’s list of the best values for Indianapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
246 N Beville Ave, Unit 1246 N Beville Ave3BR,2BA$0.75
945 Woodruff Place Middle Drive#42BR,1.5BA$0.98
3017 Broadway St, Unit 3017 Broadway3017 Broadway St3BR,1.5BA$0.93
Mariners Village Apartments2 Bedroom 2 Bathroom2BR,2BA$0.85
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.89
7 Pointe ApartmentsGarnet2BR,2BA$0.99
The Star2 Bed2BR,1BA$0.76
60 - ADDISON APARTMENTSAddison Apts - Gorgeous 2 Bed/1 Bath Apt2BR,1BA$0.96
Beech Grove Station Senior ApartmentsUnit A2BR,1BA$1.00
The Davlan2-12BR,1BA$0.95

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Indianapolis, IN Area Reviews

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Wendy • 3+ years in Indianapolis

August 10, 2025

One of Indiana's most beautiful cities!

Frequently Asked Questions about Indianapolis

What type of rentals are currently available in Indianapolis?

There are currently 1751 Apartments for Rent in Indianapolis, IN with pricing that ranges from $518 to $14,232. There are also 1553 Single Family Homes for rent, Condos, and Townhome rentals currently available in Indianapolis ranging from $295 to $12,500.

What is the current price range for Rental Homes in Indianapolis?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Indianapolis ranges from $295 to $12,500 with an average monthly rent of $2,310.

How much are larger Three and Four Bedroom Rentals in Indianapolis?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Indianapolis range from $799 to $9,205, while Three Bedroom Homes, Condos, and Townhomes for rent range from $500 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,295 and Four Bedroom Apartments start at $600.

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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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.

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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.

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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.

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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.

Articles, How-To's, and Tips

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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.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

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.

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

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.