Cheap Apartments for Rent in the Near North Indianapolis Neighborhood of Indianapolis, IN from $500 (92 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Near North Indianapolis 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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9 On Canal
Rent Specials
$960 - $3,315
Total Monthly Price

Total Monthly Price

Base Rent
$960 - $3,315
Total Monthly Price
$960 - $3,315
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Ralston Apartments
Rent Specials
$1,216 - $3,283
Total Monthly Price

Total Monthly Price

Base Rent
$1,216 - $3,283
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Barbee
1 Bedroom Apartments

Barbee

1215 N Pennsylvania StIndianapolis, IN 46202
  • Utilities Included
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Windsor
Studio to 1 Bedroom Apartments

Windsor

1235 N Delaware StIndianapolis, IN 46202
  • Utilities Included
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The Jordan
Studio to 1 Bedroom Apartments

The Jordan

1445 N Delaware StIndianapolis, IN 46202
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PICCADILLY
Studio to 3 Bedroom Apartments

PICCADILLY

28 E 16th StIndianapolis, IN 46202
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The Harrison
Studio to 1 Bedroom Apartments

The Harrison

1320 N Delaware StIndianapolis, IN 46202
  • Utilities Included
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The Marleigh
Studio to 1 Bedroom Apartments

The Marleigh

1434-1448 N Delaware StIndianapolis, IN 46202
  • Utilities Included
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Traymore Apartments
Studio to 2 Bedroom Apartments

Traymore Apartments

1402 N Alabama StIndianapolis, IN 46202
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Near North Indianapolis, Indianapolis, IN Local Guide

Cheapest Available Near North Indianapolis Apartments for Rent

 

The cheapest available apartment rental in the Near North Indianapolis area of Indianapolis, IN is a Studio unit found at Dunbar Court priced from $675. INDY FLATS has the second lowest priced unit, which is a Studio apartment currently listed from $705. Here are the most affordable Near North Indianapolis apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Dunbar CourtStudioStudio,1BA$675
INDY FLATSSherwood Std DStudio,1BA$705
1733 N. Meridian1BR1BR,1BA$780
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
St. Agnes ApartmentsOne Bedroom Standard - Basement*1BR,1BA$800
The WashingtonStudioStudio,1BA$800
Canal Gardens2.1 40%2BR,1BA$891
St. JamesOne Bedroom - Sublevel1BR,1BA$895
Senate Manor1.1 B1BR,1BA$910
9 On CanalStudio - StockholmStudio,1BA$960

Best Value Apartments for Rent in Near North Indianapolis, IN

As of June 18, 2026 the best value apartment in the Near North Indianapolis area is the $0.93 price per square foot 2.1 40% Model at Canal Gardens in the in the Near North Indianapolis neighborhood starting from $891. The second greatest value Near North Indianapolis apartment is the Two Bedrooms, One Bathroom Model at Pavilion Place starting at $1,495 with a $1.67 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for Near North Indianapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Canal Gardens2.1 40%2BR,1BA$0.93
Pavilion PlaceTwo Bedrooms, One Bathroom2BR,1BA$1.67
The Avenue2x22BR,2BA$1.16
Van DykeVan Dyke 1B 8301BR,1BA$1.55
410 E 13th St410 E 13th St1BR,1BA$1.62
1733 N. Meridian1BR1BR,1BA$1.04
College Manor1 BR1BR,1BA$1.49
The McKayMcKay 1B 6501BR,1BA$1.72
St. JamesOne Bedroom - Sublevel1BR,1BA$1.49
St. Agnes ApartmentsOne Bedroom Standard - Basement*1BR,1BA$1.60

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
Near North Indianapolis, Indianapolis, IN

Ranked #29

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

Our team works hard to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Near North Indianapolis, Indianapolis, and the greater Indianapolis area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, places that make kids happy, raising pets, transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Near North Indianapolis Apartments

What is a cheap apartment in Near North Indianapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Near North Indianapolis is under $960.

What is the price of a cheap apartment in Near North Indianapolis?

The cheapest apartment in Near North Indianapolis is 1733 N. Meridian which is listed at $780, while the average apartment in Near North Indianapolis costs $2,400.

What types of apartments are the cheapest in Near North Indianapolis?

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 39 regular apartments in Near North Indianapolis 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 Near North Indianapolis?

Cheap apartments in Near North Indianapolis have an average cost of $297 which is $2,103 cheaper than the average rent for all rentals in Near North Indianapolis.

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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.