Cheap Apartments for Rent in the Lawrence Neighborhood of Indianapolis, IN from $400 (56 Rentals)

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

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M Club Apartments
Rent Specials
$814 - $1,759
Total Monthly Price

Total Monthly Price

Base Rent
$814 - $1,759
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

M Club Apartments

7007 Courthouse DrIndianapolis, IN 46226
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  • 3D Tour

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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Lake Castleton Apartments
Rent Specials
$980 - $1,654
Total Monthly Price

Total Monthly Price

Base Rent
$980 - $1,654
Total Monthly Price
$980 - $1,654
Studio to 2 Bedroom Apartments Available Now

Lake Castleton Apartments

7601 Carlton Arms DrIndianapolis, IN 46256
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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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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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Cavalier Court
1 to 3 Bedroom Apartments

Cavalier Court

9108 E 38th PlIndianapolis, IN 46235
  • Utilities Included
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Maplewood
2 to 3 Bedroom Apartments

Maplewood

12451 Pendleton PikeIndianapolis, IN 46236
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Peppermill Farms
1 to 2 Bedroom Apartments

Peppermill Farms

6830 Mill View DrIndianapolis, IN 46226

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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Bellagio Living II
1 Bedroom Apartments

Bellagio Living II

8953 Brigadier DrIndianapolis, IN 46226
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Bellagio Living I
1 to 2 Bedroom Apartments

Bellagio Living I

9025 El Dorado PlIndianapolis, IN 46236
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Lawrence Landing
1 to 2 Bedroom Apartments

Lawrence Landing

6875 Faris AveIndianapolis, IN 46226
  • Utilities Included
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Lawrence Glen
1 to 2 Bedroom Apartments

Lawrence Glen

8633 E 46th StIndianapolis, IN 46226
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The Haciendas
1 to 3 Bedroom Apartments

The Haciendas

3816 Trilbey DrIndianapolis, IN 46235
  • 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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Lawrence, Indianapolis, IN Local Guide

Cheapest Available Lawrence Apartments for Rent

 

The cheapest available apartment rental in the Lawrence area of Indianapolis, IN is a 1 Bed unit found at Maison Gardens Apartments priced from $640. Franklin Studios has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Lawrence apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Maison Gardens Apartments1BD R1BR,1BA$640
Franklin StudiosStudioStudio,1BA$725
Peppermill Farms1BR1BR,1BA$735
Autumn Trails ApartmentsThe MapleStudio,1BA$749
M Club ApartmentsB12BR,1BA$814
The Vineyards Apartment HomesStudio ClassicStudio,1BA$819
Postbrook East Apartments1bd F1BR,1BA$820
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$842
Willowood EastOne Bed One Bath1BR,1BA$860
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$875

Best Value Apartments for Rent in Lawrence, IN

As of April 28, 2026 the best value apartment in the Lawrence area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Lawrence apartment is the 3 bd F Remod Model at Postbrook East Apartments starting at $1,180 with a $1.07 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Lawrence apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Postbrook East Apartments3 bd F Remod3BR,1BA$1.07
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$0.91
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
Peppermill Farms2BR2BR,1BA$1.26
Maison Gardens Apartments2 BD Partial R2BR,1BA$1.10
The Life at Harrison Trails2 BED 1 BATH2BR,1BA$1.30
Lawrence LandingOne Bedroom1BR,1BA$1.12
The Lenox Apartment HomesThe Andover - Upgraded1BR,1BA$1.31
Timber Point ApartmentsThe Ayers1BR,1BA$1.26

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Best Local Schools in
Lawrence, Indianapolis, IN

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Lawrence, Indianapolis, and the greater Indianapolis area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, transit availability, pet-friendly communities, family-friendliness, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Lawrence Apartments

What is a cheap apartment in Lawrence?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lawrence is under $875.

What is the price of a cheap apartment in Lawrence?

The cheapest apartment in Lawrence is Maison Gardens Apartments which is listed at $640, while the average apartment in Lawrence costs $1,559.

What types of apartments are the cheapest in Lawrence?

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 31 regular apartments in Lawrence 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 Lawrence?

Cheap apartments in Lawrence have an average cost of $265 which is $1,294 cheaper than the average rent for all rentals in Lawrence.

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

Articles, How-To's, and Tips

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.