Cheap Apartments for Rent in the Martindale Neighborhood of Indianapolis, IN from $400 (127 Rentals)

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

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The Sheldrake Apartments
$595 - $930
Total Monthly Price

Total Monthly Price

Base Rent
$595 - $930
Total Monthly Price
$595 - $930
Studio to 2 Bedroom Apartments Contact Us For Availability

The Sheldrake Apartments

2258 N Meridian StIndianapolis, IN 46208
Affordability
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  • Utilities Included

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property at 3609 Balsam Ave

$695 - $725

Studio To 1 Bedroom Rentals

Available Now

3609 Balsam Ave

IndianapolisIN46205

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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 East Village at Avondale Meadows Apartments priced from $579. Meridian Towers has the second lowest priced unit, which is a Studio apartment currently listed from $629. Here are the most affordable Martindale apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
East Village at Avondale Meadows ApartmentsB32BR,2BA$579
Meridian TowersStudio ApartmentStudio,1BA$629
INDY FLATSSherwood Std DStudio,1BA$655
Oxmoor Indy1BR/1.0BA1BR,1BA$699
34 North ApartmentsStudioStudio,1BA$725
St. Agnes ApartmentsStudio- Large 5th*Studio,1BA$789
Parkway1 Bedroom1BR,1BA$799
The Star2 Bed2BR,1BA$799
Hopeside I2.2-40%-H2BR,2BA$852
The WhitakerOne Bedroom1BR,1BA$875

Best Value Apartments for Rent in Martindale, IN

As of February 15, 2026 the best value apartment in the Martindale area is the $0.83 price per square foot 2322 Guilford Ave Model at 2322 Guilford Ave, Unit A in the in the Martindale neighborhood starting from $1,250. The second greatest value Martindale apartment is the C2 Model at East Village at Avondale Meadows Apartments starting at $1,525 with a $1.18 price per square foot in the Martindale 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.
2322 Guilford Ave, Unit A2322 Guilford Ave3BR,1BA$0.83
East Village at Avondale Meadows ApartmentsC23BR,2BA$1.18
The Star2 Bed2BR,1BA$0.76
1 & 2 Bedroom Apartments in Downtown Indianapolis - Meridian Plaza Awaits You!*Meridian Plaza*2BR,1BA$0.92
Indy Downtown Colonial Apartments3111BR,1BA$1.05
Trail SideA1BR,1BA$1.12
2043 Adams St, Unit 20432043 Adams St1BR,1BA$1.19
The Courts Apartment Homes2x1 Classic2BR,1BA$1.15
Maple Court Apartments - Where City Convenience Meets Neighborhood Charm!2 Bed Remodel2BR,1BA$1.18
Oxmoor Indy1BR/1.0BA1BR,1BA$1.00

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Quick Rent Budget Calculator

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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
Martindale, Indianapolis, IN

Ranked #13

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 $875.

What is the price of a cheap apartment in Martindale?

The cheapest apartment in Martindale is Oxmoor Indy which is listed at $699, while the average apartment in Martindale costs $1,912.

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 75 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 $239 which is $1,673 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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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.

Articles, How-To's, and Tips

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.