Cheap Apartments for Rent in the Lafayette Square Neighborhood of Indianapolis, IN from $500 (51 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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Wylde at Eagle Creek
$987 - $2,338
Total Monthly Price

Total Monthly Price

Base Rent
$987 - $2,338
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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  • 3D Tour

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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Lafayette Square - 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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Whispering Pines
1 to 3 Bedroom Apartments

Whispering Pines

4444 Mission DrIndianapolis, IN 46254
  • Utilities Included
property at 5720 W 41st Pl

$1,350

3 Bedroom Rentals

Available Now

5720 W 41st Pl

IndianapolisIN46254

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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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 Apartments priced from $709. Cambridge Commons has the second lowest priced unit, which is a Studio apartment currently listed from $719. Here are the most affordable Lafayette Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Stratford ApartmentsStudioStudio,1BA$709
Cambridge CommonsStudioStudio,1BA$719
Marabou MillsStudioStudio,1BA$740
Garden Pointe ApartmentsLily StudioStudio,1BA$795
Woodhaven ParkOne Bedroom One Bath1BR,1BA$845
Pebble Point ApartmentsA1 Bliss1BR,1BA$849
The Fields Apartment Homes1x1 Classic1BR,1BA$859
Mariners Village Apartments1 Bedroom 1 Bathroom1BR,1BA$867
Fisherman's VillageA1 Cobalt1BR,1BA$869
Rosewood CommonsOne Bed One Bath1BR,1BA$870

Best Value Apartments for Rent in Lafayette Square, IN

As of August 06, 2026 the best value apartment in the Lafayette Square area is the $1.10 price per square foot Three Bedroom Two Bath Model at Woods at Oak Crossing in the in the Cheswick Place neighborhood starting from $1,399. The second greatest value Lafayette Square apartment is the 2 Bedroom 1 Bathroom Model at Mariners Village Apartments starting at $1,021 with a $0.86 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.
Woods at Oak CrossingThree Bedroom Two Bath3BR,2BA$1.10
Mariners Village Apartments2 Bedroom 1 Bathroom2BR,1BA$0.86
Wildwood Village Apartments2 Bedroom 2 Bathroom2BR,2BA$1.07
The Life at Wood Springs2 BEDROOM | 2 BATHROOM B2BR,2BA$1.30
The Life at Creekside ReserveJUNIPER2BR,1.5BA$1.23
The AbbyThe Berkshire2BR,2BA$1.18
WoodbrookThe Maple2BR,1BA$1.10
The Maywood at SpeedwayThe Napoli1BR,1BA$1.28
Pebble Point ApartmentsA1 Bliss1BR,1BA$1.27
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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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 #40

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 $870.

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

The cheapest apartment in Lafayette Square is Cambridge Commons which is listed at $825, while the average apartment in Lafayette Square costs $1,150.

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 41 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 $216 which is $934 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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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.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.