Cheap Apartments for Rent in the Indiana Park Neighborhood of Indianapolis, IN from $494 (49 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Indiana Park 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.

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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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1448 S Kiel Ave
$1,395
Total Monthly Price

Total Monthly Price

Base Rent
$1,395
Total Monthly Price
$1,395
1 Bedroom Apartment Available Now

1448 S Kiel Ave

1448 S Kiel AveIndianapolis, IN 46241
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Auburn West Apartments
Rent Specials
$1,650 - $1,850
Total Monthly Price

Total Monthly Price

Base Rent
$1,650 - $1,850
Total Monthly Price
$1,650 - $1,850
2 Bedroom Apartments Available Now

Auburn West Apartments

4969 W 16th StIndianapolis, IN 46224
Luxury
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  • Utilities Included
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Addison Creek
1 to 4 Bedroom Apartments

Addison Creek

58 Port Ocall DrIndianapolis, IN 46224
  • Utilities Included

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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Fisher Apartments
Studio Apartments

Fisher Apartments

5125 W 10th StIndianapolis, IN 46224
  • Utilities Included
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Remington on Rockville
1 to 3 Bedroom Apartments

Remington on Rockville

7455 Rockleigh AveIndianapolis, IN 46214
  • Utilities Included
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Sebring Court
1 to 3 Bedroom Apartments

Sebring Court

1902 Parsons DrIndianapolis, IN 46224
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5911 W 25th St
Studio to 1 Bedroom Apartments

5911 W 25th St

5911-5921 W 25th StIndianapolis, IN 46224
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Central State Mansion
1 to 3 Bedroom Apartments

Central State Mansion

202 Steeples BlvdIndianapolis, IN 46222
Student Housing
  • Utilities Included

Indiana Park - 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!

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The Reserve at White River
1 to 2 Bedroom Apartments

The Reserve at White River

2774 Pixel RdIndianapolis, IN 46222
Senior Living
  • Utilities Included
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10 West Apartments
1 to 3 Bedroom Apartments

10 West Apartments

7855 Cimarron TrlIndianapolis, IN 46214
Corporate Housing
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Wyckford Commons
1 to 3 Bedroom Apartments

Wyckford Commons

7777 Wyckford CtIndianapolis, IN 46214
Corporate Housing
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Plaza at Central Greens
1 to 3 Bedroom Apartments

Plaza at Central Greens

3010 W Washington StIndianapolis, IN 46222
  • Utilities Included
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The Retreat On Washington
1 to 2 Bedroom Apartments

The Retreat On Washington

2950 Kirkbride WayIndianapolis, IN 46222
Senior Living
  • 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.

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The Legend at Speedway
1 to 2 Bedroom Apartments

The Legend at Speedway

2202 Fair Oaks DrSpeedway, IN 46224
Corporate Housing
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Brickyard Flats
Studio to 3 Bedroom Apartments

Brickyard Flats

6363 Hollister DrSpeedway, IN 46224
Showing Results 1-49, Page 1 of 1

Indiana Park, Indianapolis, IN Local Guide

Cheapest Available Indiana Park Apartments for Rent

 

The cheapest available apartment rental in the Indiana Park area of Indianapolis, IN is a Studio unit found at Maple Creek Village priced from $700. The Boardwalk at Westlake Apartments and Townhomes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $715. Here are the most affordable Indiana Park apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Maple Creek VillageStudioStudio,1BA$700
The Boardwalk at Westlake Apartments and TownhomesOne Bedroom - 516 sqft1BR,1BA$715
Pinnacle WestOne Bedroom1BR,1BA$750
The Legend at SpeedwayA11BR,1BA$799
5911 W 25th St1 Bed 1 Bath - Speedway 59111BR,1BA$849
The HermitageThe Retreat1BR,1BA$925
The Hills Apartment Homes1x1 Classic1BR,1BA$949
Carriage House WestThe Windsor1BR,1BA$957
10 West ApartmentsThe Abbey1BR,1BA$976
Ashton PointeOne Bedroom Apartment1BR,1BA$981

Best Value Apartments for Rent in Indiana Park, IN

As of August 23, 2026 the best value apartment in the Indiana Park area is the $0.98 price per square foot The Yellowstone Model at Chapel Hill Apartments in the in the West Wayne neighborhood starting from $1,650. The second greatest value Indiana Park apartment is the Three Bedroom Townhome (T3) Model at Darby Court starting at $1,482 with a $0.96 price per square foot in the Speedway Wellhead neighborhood. Here is today’s list of the best values for Indiana Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Chapel Hill ApartmentsThe Yellowstone3BR,2.5BA$0.98
Darby CourtThree Bedroom Townhome (T3)3BR,2.5BA$0.96
Runaway Bay ApartmentsCatalina 13BR,2BA$1.32
Residences at LawnviewTwo Bedroom One Bath Townhome2BR,1BA$0.96
The Maywood at SpeedwayThe Santa Maria2BR,1.5BA$1.32
Brickyard FlatsB12BR,1BA$1.21
Carriage House WestThe Addison2BR,1BA$1.34
10 West ApartmentsThe Abbey1BR,1BA$1.24
The Legend at SpeedwayA11BR,1BA$1.40
Pinnacle WestStudioStudio ,1BA$1.38

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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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
Indiana Park, Indianapolis, IN

Ranked #149

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Best Local Schools in
Indiana Park, Indianapolis, IN

School data provided by Great Schools

Frequently Asked Questions about Cheap Indiana Park Apartments

What is a cheap apartment in Indiana Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Indiana Park is under $981.

What is the price of a cheap apartment in Indiana Park?

The cheapest apartment in Indiana Park is The Boardwalk at Westlake Apartments and Townhomes which is listed at $715, while the average apartment in Indiana Park costs $1,195.

What types of apartments are the cheapest in Indiana Park?

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 98 regular apartments in Indiana Park 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 Indiana Park?

Cheap apartments in Indiana Park have an average cost of $368 which is $827 cheaper than the average rent for all rentals in Indiana Park.

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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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.

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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.