Cheap Apartments for Rent in the Lockerbie Square Neighborhood of Indianapolis, IN from $605 (106 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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property at 506 Woodruff Place Middle Dr
$1,000

Total Monthly Price

Base Rent$1,000
Total Monthly Price$1,000
1 Bedroom, 1 Bath Townhome for Rent
Available Oct 1
Affordability

506 Woodruff Place Middle Dr, Unit 506.5

506 Woodruff Place Middle Dr
IndianapolisIN46201
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9 On Canal
Rent Specials
$1,163 - $3,568

Total Monthly Price

Base Rent$1,163 - $3,568
Total Monthly Price$1,163 - $3,568
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
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property at 235 S Delaware St
$1,265 - $1,461

Total Monthly Price

Base Rent$1,265
Total Monthly Price$1,265
2 Bedroom Rentals
Available Dec 13
Furnished

235 S Delaware St

IndianapolisIN46225

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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 $675. 1515-1517 E Michigan Street has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here are the most affordable Lockerbie Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
INDY FLATSSherwood Std DStudio,1BA$675
1515-1517 E Michigan Street1BR/1.0BA1BR,1BA$750
St. RegisThe Pierre1BR,1BA$793
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
The Davlan2-12BR,1BA$846
St. Agnes ApartmentsOne Bedroom Deluxe 3rd-4th*1BR,1BA$875
Utomin Apartments1 Bedroom Sublevel1BR,1BA$900
Senate ManorS.1 AStudio,1BA$926
1010 CentralLoft 50%1BR,1BA$934
Circle CityS9 WinterhouseStudio,1BA$940

Best Value Apartments for Rent in Lockerbie Square, IN

As of September 14, 2026 the best value apartment in the Lockerbie Square area is the $1.19 price per square foot 3 Bedroom 2.5 Bath Model at The Block in the in the Riley neighborhood starting from $2,099. The second greatest value Lockerbie Square apartment is the Star Townhome Model at Pulliam Square starting at $2,654 with a $1.51 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.
The Block3 Bedroom 2.5 Bath3BR,2.5BA$1.19
Pulliam SquareStar Townhome2BR,2BA$1.51
The Davlan2-12BR,1BA$0.95
The E'LaanThe Vonnegut1BR,1BA$1.61
The VueONE BEDROOM APARTMENT1BR,1BA$1.63
St. Agnes ApartmentsOne Bedroom Deluxe 3rd-4th*1BR,1BA$1.17
522 Fletcher Ave*ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ...1BR,1BA$1.37
1515-1517 E Michigan Street1BR/1.0BA1BR,1BA$1.07
The Washington2 Bedroom2BR,1BA$1.47
College Manor1 BR1BR,1BA$1.49

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Pet Friendly Lifestyle
Lockerbie Square, Indianapolis, IN

Ranked #4

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Lockerbie Square, Indianapolis, IN

School data provided by Great Schools

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 $940.

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

The cheapest apartment in Lockerbie Square is 1515-1517 E Michigan Street which is listed at $750, while the average apartment in Lockerbie Square costs $1,517.

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 72 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 $189 which is $1,328 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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