Cheap Apartments for Rent in the Lafayette Square Neighborhood of Indianapolis, IN from $500 (23 Rentals)

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

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Whispering Pines
1 to 3 Bedroom Apartments

Whispering Pines

4444 Mission DrIndianapolis, IN 46254
  • Utilities Included
Showing Results 1-23, 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 The Stratford priced from $520. Marabou Mills has the second lowest priced unit, which is a Studio apartment currently listed from $740. Here are the most affordable Lafayette Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The StratfordStudioStudio,1BA$520
Marabou MillsStudioStudio,1BA$740
The Life at Wood Springs1 BEDROOM | 1 BATHROOM A1BR,1BA$750
Pebble PointThe Bliss1BR,1BA$779
The Fields Apartment Homes1 Bedroom 1 Bathroom Apartment Deluxe1BR,1BA$799

Best Value Apartments for Rent in Lafayette Square, IN

As of September 14, 2025 the best value apartment in the Lafayette Square area is the $0.90 price per square foot 5831 Suburban Dr Model at 5831 Suburban Dr, Unit Studio A in the in the Cheswick Place neighborhood starting from $1,075. The second greatest value Lafayette Square apartment is the Canadian Model at EAGLE CHASE APARTMENTS starting at $1,404 with a $1.29 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.
5831 Suburban Dr, Unit Studio A5831 Suburban DrStudio ,1BA$0.90
EAGLE CHASE APARTMENTSCanadian2BR,2BA$1.29
Pebble PointThe Escape2BR,2BA$1.19
The Maywood at SpeedwayThe Santa Maria2BR,1.5BA$1.29
The Fields Apartment Homes1 Bedroom 1 Bathroom Apartment Deluxe1BR,1BA$1.09
The Stratford1 Bedroom 1 Bathroom1BR,1BA$1.11
The Life at White PinesPINE1BR,1BA$1.19
Woodhaven ParkOne Bedroom One Bath1BR,1BA$1.30
Waterfront Terrace1 Bed 1 Bath1BR,1BA$1.31
The Life at Wood Springs1 BEDROOM | 1 BATHROOM A1BR,1BA$1.19

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Pet Friendly Lifestyle
Lafayette Square, Indianapolis, IN

Ranked #53

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 $825.

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 $750, while the average apartment in Lafayette Square costs $1,595.

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 16 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 $482 which is $1,113 cheaper than the average rent for all rentals in Lafayette Square.

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.

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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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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.

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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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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