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318 N Sherman Dr

IndianapolisIN46201

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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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: 09/12/2026

Current apartment rentals in the Indianapolis, IN area range in price from $543 to $14,758 with an overall median price of $1,379. The three Indianapolis neighborhoods with the lowest median rent pricing are Garfield Park South at $949, Thirty-Eighth & Shadeland at $995, and Fox Hill Estates at $999. 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$949$87521
Thirty-Eighth & Shadeland$995$649201
Fox Hill Estates$999$679114
Eastside$1,009$65092
Windsor Village$1,009$650102
Arlington Woods$1,012$650163
Warren Park$1,026$650105
Irvington$1,029$70020
United Northeast$1,041$650165
East Gate$1,050$650101

Cheapest Available Indianapolis Apartments for Rent

 

The cheapest available apartment rental in Indianapolis, IN is a 2 Beds unit found at Harpers Crossing in the The Settlement - Designer neighborhood priced from $513. Central @ 29 in the Martindale neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $543. Here is today’s list of the most affordable Indianapolis apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Harpers Crossing2 Bedroom2BR,1BA$513
Central @ 291 Bedroom - A1BR,1BA$543
Volrath1BR/1.0BA1BR,1BA$599
Meridian TowersStudio ApartmentStudio,1BA$629
Franklin StudiosStudioStudio,1BA$649
Glenstone StudiosStudioStudio,1BA$649
Serenity Manor 55+ Active AdultStudioStudio,1BA$659
Dunbar CourtStudioStudio,1BA$675
INDY FLATSSherwood Std DStudio,1BA$675
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$683

Best Value Apartments for Rent in Indianapolis, IN

As of September 12, 2026 the best value apartment in the Indianapolis area is the $0.94 price per square foot The Delphine Model at Timber Point Apartments in the in the Far Eastside neighborhood starting from $1,410. The second greatest value Indianapolis apartment is the 1134 N Dearborn St Model at 1134 N Dearborn St, Unit B starting at $1,350 with a $0.90 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.
Timber Point ApartmentsThe Delphine4BR,2BA$0.94
1134 N Dearborn St, Unit B1134 N Dearborn St3BR,1BA$0.90
1801 S Meridian St, Unit 18011801 S Meridian St3BR,1.5BA$0.89
Chapel Hill ApartmentsThe Denali1BR,1.5BA$0.94
Glen Ridge Manor Townhomes and FlatsGlen Ridge 2 bedroom Flat2BR,1BA$0.82
Garfield Parkside Townhomes3BR3BR,2BA$0.56
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.91
The Star2 Bed2BR,1BA$0.76
Meridian Plaza2B2BR,1BA$0.93
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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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.

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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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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 1807 Apartments for Rent in Indianapolis, IN with pricing that ranges from $543 to $22,977. There are also 1676 Single Family Homes for rent, Condos, and Townhome rentals currently available in Indianapolis ranging from $300 to $8,300.

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 $300 to $8,300 with an average monthly rent of $1,809.

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 $795 to $8,207, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,145 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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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.

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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.

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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.