Cheap Apartments for Rent in the Lockerbie Square Neighborhood of Indianapolis, IN from $500 (100 Rentals)

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

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9 On Canal
Rent Specials
$910 - $3,315
Total Monthly Price

Total Monthly Price

Base Rent
$910 - $3,315
Total Monthly Price
$910 - $3,315
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
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539 Fletcher Ave
$1,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,400
Total Monthly Price
$1,400
1 Bedroom Apartment Available Now

539 Fletcher Ave

539 Fletcher AveIndianapolis, IN 46203
Affordability
property at 437 N State Ave

$1,450 - $1,500

2 Bedroom Rentals

Available Now

437 N State Ave

IndianapolisIN46201
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The Jordan
Studio to 1 Bedroom Apartments

The Jordan

1445 N Delaware StIndianapolis, IN 46202
  • Utilities Included

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Lockerbie Square, Indianapolis, IN Local Guide

Cheapest Available Lockerbie Square Apartments for Rent

 

The cheapest available apartment rental in the Lockerbie Square area of Indianapolis, IN is a Studio unit found at INDY FLATS priced from $655. Priscilla on Pennsylvania has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here are the most affordable Lockerbie Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
INDY FLATSSherwood Std DStudio,1BA$655
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
The WashingtonStudioStudio,1BA$800
The Davlan2-12BR,1BA$846
Indy Christian Place Apartments LLC1 Bedroom 1 Bath - 411381BR,1BA$875
Utomin Apartments1 Bedroom Sublevel1BR,1BA$900
9 On CanalStudio - StockholmStudio,1BA$910
Trail SideA1BR,1BA$938
Indy Downtown Colonial Apartments1 Bedroom 1 Bath - 469701BR,1BA$975
Circle CityS8 Van DykeStudio,1BA$975

Best Value Apartments for Rent in Lockerbie Square, IN

As of May 01, 2026 the best value apartment in the Lockerbie Square area is the $0.97 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,750. The second greatest value Lockerbie Square apartment is the 3 Bedroom 2 Bath Model at The Block starting at $2,639 with a $1.49 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Lockerbie Square apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shoemaker Buildingloft2BR,2BA$0.97
The Block3 Bedroom 2 Bath3BR,2BA$1.49
Maxwell ApartmentsChicago2BR,2BA$1.33
Line LoftsThe Intuition 60%2BR,1BA$1.36
The Davlan2-12BR,1BA$0.95
Trail SideA1BR,1BA$1.12
Van DykeVan Dyke 1B 8301BR,1BA$1.55
Penn Street Tower ApartmentsWabash: Floors 10-121BR,1BA$1.59
1010 CentralBunker 60%1BR,1BA$1.53
Utomin Apartments1 Bedroom Sublevel1BR,1BA$1.37

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Pet Friendly Lifestyle
Lockerbie Square, Indianapolis, IN

Ranked #8

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

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of neighborhoods, cities, and rental properties across Indiana and customized analysis for Indianapolis, Indiana. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, kid and pet-friendly communities, availability of transit options, walking, and biking. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Lockerbie Square Apartments

What is a cheap apartment in Lockerbie Square?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lockerbie Square is under $975.

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

The cheapest apartment in Lockerbie Square is INDY FLATS which is listed at $830, while the average apartment in Lockerbie Square costs $4,299.

What types of apartments are the cheapest in Lockerbie 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 79 regular apartments in Lockerbie 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 Lockerbie Square?

Cheap apartments in Lockerbie Square have an average cost of $241 which is $4,058 cheaper than the average rent for all rentals in Lockerbie 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.

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