Cheap Apartments for Rent in the Lafayette Square Neighborhood of Indianapolis, IN from $500 (50 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Lafayette Square area of Indianapolis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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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Wylde at Eagle Creek
Rent Specials
$1,060 - $2,479
Total Monthly Price

Total Monthly Price

Base Rent
$1,060 - $2,479
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

Wylde at Eagle Creek

6612 Eagle Pointe DrIndianapolis, IN 46254
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

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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Whispering Pines
1 to 3 Bedroom Apartments

Whispering Pines

4444 Mission DrIndianapolis, IN 46254
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Showing Results 1-50, Page 1 of 1

Lafayette Square, Indianapolis, IN Local Guide

Cheapest Available Lafayette Square Apartments for Rent

 

The cheapest available apartment rental in the Lafayette Square area of Indianapolis, IN is a Studio unit found at Rosewood Commons priced from $749. Cambridge Commons has the second lowest priced unit, which is a Studio apartment currently listed from $775. Here are the most affordable Lafayette Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Rosewood CommonsStudioStudio,1BA$749
Cambridge CommonsStudioStudio,1BA$775
Garden Pointe ApartmentsLily StudioStudio,1BA$795
The Life at Wood Springs1 BEDROOM | 1 BATHROOM A1BR,1BA$806
The Stratford ApartmentsStudio W/ DenStudio,1BA$819
Spinnaker CourtVilla1BR,1BA$830
Woodhaven ParkOne Bedroom One Bath1BR,1BA$845
The Meadows Apartment HomesStudio ClassicStudio,1BA$849
The Life at White PinesPINE1BR,1BA$849
Waterfront Terrace1 Bed 1 Bath1BR,1BA$850

Best Value Apartments for Rent in Lafayette Square, IN

As of June 21, 2026 the best value apartment in the Lafayette Square area is the $1.20 price per square foot 3x2 Renovated Model at The Fields Apartment Homes in the in the Cheswick Place neighborhood starting from $1,529. The second greatest value Lafayette Square apartment is the 2 Bedroom 1 Bathroom Model at Mariners Village Apartments starting at $1,164 with a $0.98 price per square foot in the Timberview neighborhood. Here is today’s list of the best values for Lafayette Square apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Fields Apartment Homes3x2 Renovated3BR,2BA$1.20
Mariners Village Apartments2 Bedroom 1 Bathroom2BR,1BA$0.98
Wildwood Village Apartments2 Bedroom 2 Bathroom2BR,2BA$1.07
The Life at Creekside ReserveJUNIPER2BR,1.5BA$1.23
The Maywood at SpeedwayThe Santa Maria2BR,1.5BA$1.13
5841 W 25th St, Unit 1 or 45841 W 25th St2BR,1BA$1.22
The Life at Northwest Gardens2 BED 1 BATH2BR,1BA$1.22
Woods at Oak CrossingOne Bedroom One Bath1BR,1BA$1.14
The Life at White PinesPINE1BR,1BA$1.22
Woodhaven ParkOne Bedroom One Bath1BR,1BA$1.30

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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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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Pet Friendly Lifestyle
Lafayette Square, Indianapolis, IN

Ranked #36

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

Our team of engineers and researchers is proud to bring you Lifestyle Ratings of rentals and neighborhoods across the USA, including Lafayette Square, Indianapolis, and the greater Indianapolis area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, places that make kids happy, raising pets, transit options, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Lafayette Square Apartments

What is a cheap apartment in Lafayette Square?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lafayette Square is under $850.

What is the price of a cheap apartment in Lafayette Square?

The cheapest apartment in Lafayette Square is The Life at Wood Springs which is listed at $806, while the average apartment in Lafayette Square costs $1,624.

What types of apartments are the cheapest in Lafayette Square?

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 44 regular apartments in Lafayette Square 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 Lafayette Square?

Cheap apartments in Lafayette Square have an average cost of $242 which is $1,382 cheaper than the average rent for all rentals in Lafayette Square.

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

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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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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

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Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.