Cheap Apartments for Rent in the Martindale Neighborhood of Indianapolis, IN from $500 (240 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Martindale 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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property at 3609 Balsam Ave

$674 - $750

Studio To 1 Bedroom Rentals

Available Now

3609 Balsam Ave

IndianapolisIN46205
property at 4720 Munter Ln

$765 - $785

Total Monthly Price

Total Monthly Price

Base Rent
$765 - $785
Total Monthly Price
$765 - $785

1 Bedroom, 1 Bath Home for Rent

Available Now

4720 Munter Ln

IndianapolisIN46218

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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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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Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

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Martindale, Indianapolis, IN Local Guide

Cheapest Available Martindale Apartments for Rent

 

The cheapest available apartment rental in the Martindale area of Indianapolis, IN is a 2 Beds unit found at The Villages at Mill Crossing priced from $545. East Village at Avondale Meadows Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $569. Here are the most affordable Martindale apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Villages at Mill Crossing2THSFL2BR,1BA$545
East Village at Avondale Meadows ApartmentsB32BR,2BA$569
Meridian TowersStudio ApartmentStudio,1BA$629
INDY FLATSSherwood Std DStudio,1BA$655
Oxmoor Indy1BR/1.0BA1BR,1BA$699
Maple Court Apartments - Where City Convenience Meets Neighborhood Charm!StudioStudio,1BA$725
34 North ApartmentsStudioStudio,1BA$725
1 & 2 Bedroom Apartments in Downtown Indianapolis - Meridian Plaza Awaits You!1B1BR,1BA$750
1733 N. Meridian1BR1BR,1BA$780
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799

Best Value Apartments for Rent in Martindale, IN

As of May 18, 2026 the best value apartment in the Martindale area is the $0.93 price per square foot 1134 N Dearborn St Model at 1134 N Dearborn St, Unit B in the in the Martindale neighborhood starting from $1,400. The second greatest value Martindale apartment is the 2031 Broadway St Model at 2031 Broadway St, Unit Broadway starting at $1,395 with a $1.03 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for Martindale apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1134 N Dearborn St, Unit B1134 N Dearborn St3BR,1BA$0.93
2031 Broadway St, Unit Broadway2031 Broadway St3BR,1BA$1.03
Glen Ridge Manor Townhomes and Flats (Indy Town)Glen Ridge 2 Bedroom Townhome2BR,1BA$0.94
East Village at Avondale Meadows ApartmentsB22BR,2BA$1.14
The Star2 Bed2BR,1BA$0.76
Oxmoor Indy3BR/1.0BA3BR,1BA$1.00
Hopeside I2.2-40%-H2BR,2BA$0.96
The Davlan2-12BR,1BA$0.95
1733 N. Meridian1BR1BR,1BA$1.04
1 & 2 Bedroom Apartments in Downtown Indianapolis - Meridian Plaza Awaits You!1B1BR,1BA$1.03

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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Quick Rent Budget Calculator

How much rent can you afford?

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
Martindale, Indianapolis, IN

Ranked #31

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
Martindale, Indianapolis, IN

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of neighborhoods, metropolitan 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 the best proximity to parks and outdoor amenities, transit availability, pet-friendly communities, places to raise kids, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Martindale Apartments

What is a cheap apartment in Martindale?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Martindale is under $799.

What is the price of a cheap apartment in Martindale?

The cheapest apartment in Martindale is The Villages at Mill Crossing which is listed at $669, while the average apartment in Martindale costs $1,565.

What types of apartments are the cheapest in Martindale?

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 61 regular apartments in Martindale 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 Martindale?

Cheap apartments in Martindale have an average cost of $180 which is $1,385 cheaper than the average rent for all rentals in Martindale.

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.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Written by: Wendy Melton

Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.