Cheap Apartments for Rent in the Lexington Farms Neighborhood of Indianapolis, IN from $700 (35 Rentals)

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

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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property at 10614 McPherson St

$1,285

2 Bedroom, 1 Bath Townhome for Rent

Available Now

10614 McPherson St

IndianapolisIN46280
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Carlyle Court
1 to 2 Bedroom Apartments

Carlyle Court

951 Carlyle LnIndianapolis, IN 46240
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Crestwood Village North
Studio to 2 Bedroom Apartments

Crestwood Village North

9225 Garrison DrIndianapolis, IN 46240
Senior Living
  • Utilities Included

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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included
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Penn Circle
1 to 2 Bedroom Apartments

Penn Circle

12415 N Pennsylvania StCarmel, IN 46032

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Midtown Flats
Studio to 3 Bedroom Apartments

Midtown Flats

591 Monon BlvdCarmel, IN 46032
Showing Results 1-35, Page 1 of 1

Lexington Farms, Indianapolis, IN Local Guide

Cheapest Available Lexington Farms Apartments for Rent

 

The cheapest available apartment rental in the Lexington Farms area of Indianapolis, IN is a Studio unit found at The Hub at Nora priced from $749. College Courts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $864. Here are the most affordable Lexington Farms apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Hub at NoraStudio Suite with Patio/Balcony - The SparkStudio,1BA$749
College Courts1 Bed/1 Bath Dn (A)1BR,1BA$864
The Lodge at Trails EdgeThe Elk1BR,1BA$989
Northwood on the TrailRedbud1BR,1BA$1,000
Nook NineTasselStudio,1BA$1,148
GramercyVerde (1.10 A)1BR,1BA$1,175
VER at Proscenium ApartmentsThe Richard1BR,1BA$1,248
Governor SquareDurbin - Renovated1BR,1BA$1,270
Quarry at River NorthSlateStudio,1BA$1,280

Best Value Apartments for Rent in Lexington Farms, IN

As of January 13, 2026 the best value apartment in the Lexington Farms area is the $1.52 price per square foot Monterey I Model at The Retreat at Carmel in the in the Nora neighborhood starting from $2,491. The second greatest value Lexington Farms apartment is the Zenith Model at Sunrise on the Monon starting at $2,427 with a $1.49 price per square foot in the Nora neighborhood. Here is today’s list of the best values for Lexington Farms apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Retreat at CarmelMonterey I3BR,2BA$1.52
Sunrise on the MononZenith3BR,2BA$1.49
Ashton BrookTwo Bedroom Apartment2BR,1BA$1.39
Northwood on the TrailSugar Maple2BR,1BA$1.40
Governor SquareDurbin - Renovated1BR,1BA$1.41
The Lodge at Trails EdgeThe Everglade2BR,1BA$1.55
Overture at Proscenium ApartmentsScotStudio ,1BA$1.72
17 Woodland Dr, Unit Upstair Rental17 Woodland Dr5BR,1BA$1.27
GramercyVerde (1.10 A)1BR,1BA$1.54
Lakes of CarmelOne Bedroom1BR,1BA$1.73

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

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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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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 Lifestyle
Lexington Farms, Indianapolis, IN

Ranked #85

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Lifestyle Ratings

Our team compiles millions of data points to bring you Lifestyle Ratings of neighborhoods, areas, and rental properties across Indiana, including Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and proximity to parks, kid and pet-friendly communities, availability of transit options, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Lexington Farms Apartments

What is a cheap apartment in Lexington Farms?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lexington Farms is under $1,280.

What is the price of a cheap apartment in Lexington Farms?

The cheapest apartment in Lexington Farms is College Courts which is listed at $884, while the average apartment in Lexington Farms costs $2,552.

What types of apartments are the cheapest in Lexington Farms?

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 Lexington Farms 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 Lexington Farms?

Cheap apartments in Lexington Farms have an average cost of $102 which is $2,450 cheaper than the average rent for all rentals in Lexington Farms.

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

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.

Articles, How-To's, and Tips

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!