Cheap Apartments for Rent in the Northwest Indianapolis Neighborhood of Indianapolis, IN from $400 (24 Rentals)

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

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Fisher Apartments
Studio Apartments

Fisher Apartments

5125 W 10th StIndianapolis, IN 46224
  • Utilities Included
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The Reserve at White River
1 to 2 Bedroom Apartments

The Reserve at White River

2774 Pixel RdIndianapolis, IN 46222
Senior Living
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The Legend at Speedway
1 to 2 Bedroom Apartments

The Legend at Speedway

2202 Fair Oaks DrSpeedway, IN 46224
Corporate Housing
Showing Results 1-24, Page 1 of 1

Northwest Indianapolis, Indianapolis, IN Local Guide

Cheapest Available Northwest Indianapolis Apartments for Rent

 

The cheapest available apartment rental in the Northwest Indianapolis area of Indianapolis, IN is a Studio unit found at The Stratford priced from $520. The Legend at Speedway has the second lowest priced unit, which is a 1 Bed apartment currently listed from $816. Here are the most affordable Northwest Indianapolis apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The StratfordStudioStudio,1BA$520
The Legend at SpeedwayA11BR,1BA$816
The Life at White PinesPINE1BR,1BA$825
Waterfront Terrace1 Bed 1 Bath1BR,1BA$850
Abney Lake1 Bedroom Fireplace1BR,1BA$874

Best Value Apartments for Rent in Northwest Indianapolis, IN

As of November 12, 2025 the best value apartment in the Northwest Indianapolis area is the $1.20 price per square foot 3x1.5 Townhouse Premium Model at The Meadows Apartment Homes in the in the Cheswick Place neighborhood starting from $1,519. The second greatest value Northwest Indianapolis apartment is the AUB2RENO Model at Aura Apartments starting at $1,400 with a $1.17 price per square foot in the Cheswick Place neighborhood. Here is today’s list of the best values for Northwest Indianapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Meadows Apartment Homes3x1.5 Townhouse Premium3BR,1.5BA$1.20
Aura ApartmentsAUB2RENO2BR,1BA$1.17
Mansion Row - Where Historic Charm Meets Modern7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.18
The Fields Apartment Homes2 Bedroom 2 Bath Apartment with dining2BR,2BA$1.01
The Residence at White River ApartmentsHARRISON - B12BR,1BA$1.35
The Life at White PinesPINE1BR,1BA$1.19
Vivio on TenthPer Bedroom - 2x2 B5 728sf2BR,2BA$1.35
Wildwood Village Apartments1 Bedroom 1 Bathroom1BR,1BA$1.38
The Stratford1 Bedroom 1 Bathroom1BR,1BA$1.23
Waterfront Terrace1 Bed 1 Bath1BR,1BA$1.31

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Pet Friendly Lifestyle
Northwest Indianapolis, Indianapolis, IN

Ranked #163

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Best Local Schools in
Northwest Indianapolis, Indianapolis, IN

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities across the United States including Northwest 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 the best outdoor access, luxury housing options, kid and pet-friendly communities, availability of transit options, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Northwest Indianapolis Apartments

What is a cheap apartment in Northwest Indianapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Northwest Indianapolis is under $999.

What is the price of a cheap apartment in Northwest Indianapolis?

The cheapest apartment in Northwest Indianapolis is The Stratford which is listed at $799, while the average apartment in Northwest Indianapolis costs $1,399.

What types of apartments are the cheapest in Northwest 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 38 regular apartments in Northwest 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 Northwest Indianapolis?

Cheap apartments in Northwest Indianapolis have an average cost of $251 which is $1,148 cheaper than the average rent for all rentals in Northwest Indianapolis.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.