Cheap Homes for Rent in Lockerbie Square Neighborhood of Indianapolis, IN from $500 (14 Rentals)

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

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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 1 Bed unit found at 1010 Central priced from $540. Priscilla on Pennsylvania has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable Lockerbie Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
1010 CentralLoft 30%1BR,1BA$540
Priscilla on PennsylvaniaStudioStudio,1BA$875
The Seminole1br1BR,1BA$938
Madison ApartmentsOne bedroom1BR,1BA$960
Utomin Apartments2 Bedroom2BR,1BA$975

Best Value Apartments for Rent in Lockerbie Square, IN

As of August 13, 2025 the best value apartment in the Lockerbie Square area is the $1.08 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,950. The second greatest value Lockerbie Square apartment is the 1 Bedroom 1 Bath Model at The Block starting at $1,599 with a $1.10 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$1.08
The Block1 Bedroom 1 Bath1BR,1BA$1.10
Penn Street Tower ApartmentsSenate 2 Bedroom 1 Bath Apartment at 115 Penn A...2BR,1BA$1.37
RaleighRaleigh 2B 10042BR,2BA$1.59
Lockerbie Flats1 Bedroom1BR,1BA$1.61
Van DykeVan Dyke 1B 8301BR,1BA$1.55
The Seminole1br1BR,1BA$1.28
Artistry IndyRococo1BR,1BA$1.64
College Manor1 BR1BR,1BA$1.57
Utomin Apartments2 Bedroom2BR,1BA$1.50

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Frequently Asked Questions about Lockerbie Square

What type of rentals are currently available in Lockerbie Square?

There are currently 200 Apartments for Rent in Lockerbie Square, IN with pricing that ranges from $740 to $9,500. There are also 111 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lockerbie Square ranging from $599 to $4,700.

What is the current price range for Rental Homes in Lockerbie Square?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lockerbie Square ranges from $599 to $4,700 with an average monthly rent of $1,932.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.