Cheap Apartments for Rent in the Near North Indianapolis Neighborhood of Indianapolis, IN from $500 (71 Rentals)

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

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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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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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

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16 Park Apartments
1 to 4 Bedroom Apartments

16 Park Apartments

1621 N Park AveIndianapolis, IN 46202
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Northside Flats Apartments
Studio to 2 Bedroom Apartments

Northside Flats Apartments

1503 N Pennsylvania StIndianapolis, IN 46202
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Windsor
Studio to 1 Bedroom Apartments

Windsor

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

The Jordan

1445 N Delaware StIndianapolis, IN 46202
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Barbee
1 Bedroom Apartments

Barbee

1215 N Pennsylvania 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
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The Marleigh
Studio to 1 Bedroom Apartments

The Marleigh

1434-1448 N Delaware StIndianapolis, IN 46202
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1733 N. Meridian
1 Bedroom Apartments

1733 N. Meridian

1733 N Meridian StIndianapolis, IN 46202
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Madison Apartments
1 to 2 Bedroom Apartments

Madison Apartments

226 E 12th StIndianapolis, IN 46202
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Capitol Manor
1 Bedroom Apartments

Capitol Manor

842 N Capitol AveIndianapolis, IN 46204
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Victoria Apartments
Studio Apartments

Victoria Apartments

1244 N Illinois StIndianapolis, IN 46202
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Canal Gardens
1 to 2 Bedroom Apartments

Canal Gardens

1249 Dr Martin Luther King Jr StIndianapolis, IN 46202
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The Whitaker
1 to 2 Bedroom Apartments

The Whitaker

1504 N Pennsylvania StIndianapolis, IN 46202
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 $660. The Sheldrake Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here are the most affordable Near North Indianapolis apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Dunbar CourtStudioStudio,1BA$660
The Sheldrake ApartmentsStudio HybridStudio,1BA$700
INDY FLATSSherwood Std DStudio,1BA$705
St. Agnes ApartmentsStudio- Large 5th*Studio,1BA$789
Madison ApartmentsOne bedroom1BR,1BA$795
Wesley PlacePeckStudio,1BA$803
Canal Gardens2.1 40%2BR,1BA$891
The WhitakerOne Bedroom1BR,1BA$895
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$899
Traymore ApartmentsOne Bedroom1BR,1BA$925

Best Value Apartments for Rent in Near North Indianapolis, IN

As of January 25, 2026 the best value apartment in the Near North Indianapolis area is the $1.28 price per square foot Two Bedroom Two Bath (1,184 - 1,194 Square Feet) Model at Gardens of Canal Court in the in the Near North Indianapolis neighborhood starting from $1,533. The second greatest value Near North Indianapolis apartment is the Two Bed Two Bath Model at 2131 North starting at $1,525 with a $1.33 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.
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.28
2131 NorthTwo Bed Two Bath2BR,2BA$1.33
Canal Gardens2.1 40%2BR,1BA$0.93
PavillionTwo Bedrooms, One Bathroom2BR,1BA$1.41
Madison ApartmentsTwo bedroom2BR,1BA$1.40
St. JamesOne Bedroom1BR,1BA$1.40
The Washington2 Bedroom2BR,1BA$1.47
Utomin Apartments2 Bedroom2BR,1BA$1.50
The WhitakerOne Bedroom1BR,1BA$1.49
The Sheldrake ApartmentsStudio HybridStudio ,1BA$1.54

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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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 #26

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 $925.

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

The cheapest apartment in Near North Indianapolis is Madison Apartments which is listed at $795, while the average apartment in Near North Indianapolis costs $2,700.

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 71 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 $341 which is $2,359 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.

Articles, How-To's, and Tips

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.