Cheap Homes for Rent in Indianapolis, IN from $300 (229 Rentals)

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Search the lowest-cost Homes available for rent right now in 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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property at 6531 E Daisy Hill Ct

$700 - $1,000

Total Monthly Price

Total Monthly Price

Base Rent
$700 - $1,000
Total Monthly Price
$700 - $1,000

1 Bedroom, 1 Bath Home for Rent

Available Now

6531 E Daisy Hill Ct

CambyIN46113

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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property at 336 Prospect St

$745 - $845

1 Bedroom Rentals

Available Now

336 Prospect St

IndianapolisIN46225

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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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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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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Indianapolis, IN Local Guide

Cheapest Neighborhoods for Apartments in Indianapolis, IN

Pricing Updated: 03/13/2026

Current apartment rentals in the Indianapolis, IN area range in price from $492 to $16,591 with an overall median price of $3,108. The three Indianapolis neighborhoods with the lowest median rent pricing are Canterbury Chatard at $625, Keystone-Monon at $775, and New Augusta at $597. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Indianapolis Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Canterbury Chatard$1,149$62540
Keystone-Monon$1,149$77551
New Augusta$1,329$597281
Spring Mill Heights$1,329$724374
Wellington Park Heights$1,329$625354
Arden$1,349$649525
Delaware Trails South$1,349$695455
Greenbriar$1,354$695563
Northpoint Village$1,354$597376
St Vincent Greenbriar$1,354$695454

Cheapest Available Indianapolis Apartments for Rent

 

The cheapest available apartment rental in Indianapolis, IN is a 2 Beds unit found at East Village at Avondale Meadows Apartments in the Martindale neighborhood priced from $569. D&T Nest in the Southeast Indianapolis neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $575. Here is today’s list of the most affordable Indianapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
East Village at Avondale Meadows ApartmentsB32BR,2BA$569
D&T Nest0 Bedroom 1 Bath - 23033Studio,1BA$575
Hopeside I2.2-30%-H2BR,2BA$602
The StratfordStudioStudio,1BA$620
Meridian TowersStudio ApartmentStudio,1BA$629
Minnie HartmanThe Lillie 30%2BR,1BA$629
Volrath**Free Month of Rent ** 128 E Palmer St - Studio1BR,1BA$649
Glenstone StudiosStudioStudio,1BA$649
INDY FLATSSherwood Std DStudio,1BA$655
Union at 16th1 Bed 1 Bath1BR,1BA$684

Best Value Apartments for Rent in Indianapolis, IN

As of March 13, 2026 the best value apartment in the Indianapolis area is the $0.97 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,750. The second greatest value Indianapolis apartment is the 2322 Guilford Ave Model at 2322 Guilford Ave, Unit A starting at $1,250 with a $0.83 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.
Shoemaker Buildingloft2BR,2BA$0.97
2322 Guilford Ave, Unit A2322 Guilford Ave3BR,1BA$0.83
Chapel Hill ApartmentsThe Denali1BR,1.5BA$0.94
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.91
The Star2 Bed2BR,1BA$0.76
60 - ADDISON APARTMENTS2nd Floor Standard + W/D Hookups2BR,1BA$0.95
Canal Gardens2.1 40%2BR,1BA$0.93
Hopeside I2.2-40%-H2BR,2BA$0.93
The Davlan2-12BR,1BA$0.95
Minnie HartmanThe Lillie 30%2BR,1BA$0.72

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

Explore Indianapolis, IN Rentals by Map

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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 1696 Apartments for Rent in Indianapolis, IN with pricing that ranges from $497 to $16,591. There are also 1099 Single Family Homes for rent, Condos, and Townhome rentals currently available in Indianapolis ranging from $320 to $6,500.

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 $320 to $6,500 with an average monthly rent of $1,753.

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 $870 to $8,143, while Three Bedroom Homes, Condos, and Townhomes for rent range from $950 to $3,850. Four Bedroom Single-Family rentals are also available starting from $950 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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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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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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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.

Articles, How-To's, and Tips

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.