Cheap Apartments for Rent in the North Meridian Neighborhood of Indianapolis, IN from $500 (49 Rentals)

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

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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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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from $1,2501 Bedroom Apartments Available Now

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1040 N Delaware StIndianapolis, IN 46202
Pet Friendly
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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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Capitol Manor
1 Bedroom Apartments

Capitol Manor

842 N Capitol AveIndianapolis, IN 46204
  • Utilities Included

North Meridian - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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Blacherne Apartments
1 to 2 Bedroom Apartments

Blacherne Apartments

402 N Meridian StIndianapolis, IN 46204
  • Utilities Included
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Turnverein Apartments
Studio Apartments

Turnverein Apartments

902 N Meridian StIndianapolis, IN 46204
  • Utilities Included
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800 Capitol
1 to 2 Bedroom Apartments

800 Capitol

800 N Capitol AveIndianapolis, IN 46204
  • Utilities Included
Showing Results 1-49, Page 1 of 1

North Meridian, Indianapolis, IN Local Guide

Cheapest Available North Meridian Apartments for Rent

 

The cheapest available apartment rental in the North Meridian area of Indianapolis, IN is a 1 Bed unit found at Madison Lofts priced from $830. River West Flats has the second lowest priced unit, which is a Studio apartment currently listed from $999. Here are the most affordable North Meridian apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Madison Lofts1x1 583sf1BR,1BA$830
River West FlatsStudioStudio,1BA$999
Senate Manor1.1 Ap1BR,1BA$1,005
Stadium Lofts & FlatsLoft JStudio,1BA$1,067
Ralston ApartmentsMagnolia1BR,1BA$1,086
800 CapitolImprint 60%1BR,1BA$1,092
Gathyr ApartmentsBevilleStudio,1BA$1,099
Riley TowersStudio - 500Studio,1BA$1,108
The StellaSol 80%Studio,1BA$1,125
The Continental Towers at Vermont PlaceContinental - Willard1BR,1BA$1,145

Best Value Apartments for Rent in North Meridian, IN

As of June 25, 2025 the best value apartment in the North Meridian area is the $1.06 price per square foot 1 Bedroom 1 Bath Model at The Block in the in the Riley neighborhood starting from $1,549. The second greatest value North Meridian apartment is the F Model at Townhomes at Fall Creek Place starting at $1,626 with a $1.61 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for North Meridian apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Block1 Bedroom 1 Bath1BR,1BA$1.06
Townhomes at Fall Creek PlaceF2BR,1BA$1.61
Kennedy Apartments2 Bed 1 Bath2BR,1BA$1.65
Pulliam SquareDaily VIII1BR,1BA$1.94
Stadium Lofts & FlatsLoft JStudio ,1BA$1.34
800 CapitolImprint - Market1BR,1BA$2.07
Madison Lofts1x1 657sf1BR,1BA$1.90
Lockerbie LoftsThe WileyStudio ,1BA$2.09
WesmontStudio - Bumping on SunsetStudio ,1BA$2.17
River West FlatsStudioStudio ,1BA$2.19

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
North Meridian, Indianapolis, IN

Ranked #18

Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Getting Around the North Meridian Neighborhood in Indianapolis, IN

Walk Score®

90 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

99 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

61 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap North Meridian Apartments

What is a cheap apartment in North Meridian?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in North Meridian is under $1,145.

What is the price of a cheap apartment in North Meridian?

The cheapest apartment in North Meridian is Madison Lofts which is listed at $830, while the average apartment in North Meridian costs $2,682.

What types of apartments are the cheapest in North Meridian?

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 33 regular apartments in North Meridian 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 North Meridian?

Cheap apartments in North Meridian have an average cost of $333 which is $2,349 cheaper than the average rent for all rentals in North Meridian.

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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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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.