3364 Tara Ln
IndianapolisIN46224
Cheap Homes for Rent in Island Village Neighborhood of Indianapolis, IN from $1,000 (4 Rentals)
Search the lowest-cost Homes available for rent right now in the Island Village area of Indianapolis.
4291 Village Pkwy Cir W
IndianapolisIN46254
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.
3326 Lupine Dr
IndianapolisIN46224
4470 Village Ln
IndianapolisIN46254
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.
Showing Results 1-4, Page 1 of 1
Island Village, Indianapolis, IN Local Guide
How much does it cost to rent a home in Island Village?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Island Village 2 Bedroom Homes for Rent | $1,284 | $1,025 | $1,650 |
| Island Village 3 Bedroom Homes for Rent | $1,905 | $1,450 | $3,850 |
| Island Village 4 Bedroom Homes for Rent | $2,144 | $1,715 | $2,530 |
| Island Village 5 Bedroom Homes for Rent | $2,245 | $2,245 | $2,245 |
Browse Homes for Rent in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Island Village Neighborhood of Indianapolis, IN.
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Island Village, Indianapolis, IN Local Guide
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Best Value Apartments for Rent in Island Village, IN
As of September 17, 2025 the best value apartment in the Island Village area is the $1.25 price per square foot 3 Bedroom 1.5 Bath Townhouse Model at The Meadows Apartment Homes in the in the Cheswick Place neighborhood starting from $1,589. The second greatest value Island Village apartment is the 5831 Suburban Dr Model at 5831 Suburban Dr, Unit Studio A starting at $1,075 with a $0.90 price per square foot in the Cheswick Place neighborhood. Here is today’s list of the best values for Island Village apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Meadows Apartment Homes | 3 Bedroom 1.5 Bath Townhouse | 3BR,1.5BA | $1.25 |
| 5831 Suburban Dr, Unit Studio A | 5831 Suburban Dr | Studio ,1BA | $0.90 |
| Eagle Creek | Excite - Renovated | 2BR,1BA | $1.28 |
| Villa Del Sol Apartments | Spacious, Updated 3 Bedroom Large Townhome Awa... | 3BR,1.5BA | $1.27 |
| EAGLE CHASE APARTMENTS | Canadian | 2BR,2BA | $1.29 |
| Pebble Point | The Escape | 2BR,2BA | $1.19 |
| The Maywood at Speedway | The Santa Maria | 2BR,1.5BA | $1.29 |
| The Stratford | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.11 |
| The Life at White Pines | PINE | 1BR,1BA | $1.19 |
| Eagle Creek Court | Deluxe One Bedroom (AN1) | 1BR,1BA | $1.29 |
Quick Rent Budget Calculator
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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 LifestyleIsland Village, Indianapolis, IN
Ranked #112
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Island Village
What type of rentals are currently available in Island Village?
There are currently 58 Apartments for Rent in Island Village, IN with pricing that ranges from $707 to $3,563. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Island Village ranging from $1,025 to $3,850.
What is the current price range for Rental Homes in Island Village?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Island Village ranges from $1,025 to $3,850 with an average monthly rent of $1,894.
How much are larger Three and Four Bedroom Rentals in Island Village?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Island Village range from $1,320 to $3,563, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $3,850. Four Bedroom Single-Family rentals are also available starting from $1,715 and Four Bedroom Apartments start at $2,399.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
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.
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.