Cheap Apartments for Rent in the Lexington Farms Neighborhood of Indianapolis, IN from $800 (39 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Lexington Farms 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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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

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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property at 10608B Central Ave

$1,995

Total Monthly Price

Total Monthly Price

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$1,995
Total Monthly Price
$1,995

3 Bedroom, 2.5 Bath Townhome for Rent

Available Now

10608B Central Ave

CarmelIN46280
property at 10604 Central Ave

$1,995

Total Monthly Price

Total Monthly Price

Base Rent
$1,995
Total Monthly Price
$1,995

3 Bedroom, 2.5 Bath Townhome for Rent

Available Now

10604 Central Ave

CarmelIN46280
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Twin Lakes Apartments
1 to 3 Bedroom Apartments

Twin Lakes Apartments

616 Ransburg Dr SCarmel, IN 46032
  • Utilities Included

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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Midtown Flats
Studio to 3 Bedroom Apartments

Midtown Flats

591 Monon BlvdCarmel, IN 46032
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Penn Circle
1 to 2 Bedroom Apartments

Penn Circle

12415 N Pennsylvania StCarmel, IN 46032
Showing Results 1-39, 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 1 Bed unit found at Carlyle Court priced from $802. The Hub at Nora has the second lowest priced unit, which is a Studio apartment currently listed from $849. Here are the most affordable Lexington Farms apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Carlyle CourtStandard One Bedrom (SN1)1BR,1BA$802
The Hub at NoraStudio - The CoreStudio,1BA$849
Northwood on the TrailRedbud1BR,1BA$950
College Courts1 Bed/1 Bath Up (B)1BR,1BA$1,064
The Lodge at Trails EdgeThe Elk1BR,1BA$1,095
GramercyVerde (1.10A)1BR,1BA$1,225
Ashton BrookTwo Bedroom Apartment2BR,1BA$1,263
Providence at Old Meridian1B1B Jackson Sqr - Renovated1BR,1BA$1,378
Midtown FlatsBrownsburg Studio, 1 BathroomStudio,1BA$1,392
Nook NineJadeStudio,1BA$1,435

Best Value Apartments for Rent in Lexington Farms, IN

As of June 18, 2026 the best value apartment in the Lexington Farms area is the $1.50 price per square foot Vintage Model at The Retreat at Carmel in the in the Nora neighborhood starting from $1,989. The second greatest value Lexington Farms apartment is the 2 bedroom 2 bathroom Renovated -Marshall Model at Governor Square starting at $1,655 with a $1.35 price per square foot in the Spring Mill 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 CarmelVintage2BR,2BA$1.50
Governor Square2 bedroom 2 bathroom Renovated -Marshall2BR,2BA$1.35
Ashton BrookThree Bedroom Townhome3BR,1.5BA$1.85
Mezz 42Coda - (7175A3 1x1 - 950 sqft)1BR,1BA$1.74
Northwood on the TrailSugar Maple2BR,1BA$1.32
The Seasons of CarmelCambridge1BR,1BA$1.69
GramercyVerde (1.10A)1BR,1BA$1.61
Providence at Old Meridian1B1B Jackson Sqr - Renovated1BR,1BA$1.82
The Lodge at Trails EdgeThe Elk1BR,1BA$1.67
Carlyle CourtStandard One Bedrom (SN1)1BR,1BA$1.52

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
Lexington Farms, Indianapolis, IN

Ranked #77

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 $1,435.

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

The cheapest apartment in Lexington Farms is Carlyle Court which is listed at $802, while the average apartment in Lexington Farms costs $2,564.

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 21 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 $133 which is $2,431 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.

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