Cheap Apartments for Rent in the Northwest Indianapolis Neighborhood of Indianapolis, IN from $400 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Northwest 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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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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Fisher Apartments
Studio Apartments

Fisher Apartments

5125 W 10th StIndianapolis, IN 46224
  • Utilities Included

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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The Reserve at White River
1 to 2 Bedroom Apartments

The Reserve at White River

2774 Pixel RdIndianapolis, IN 46222
Senior Living
  • Utilities Included
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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

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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Showing Results 1-36, 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 1 Bed unit found at The Legend at Speedway priced from $799. The Stratford Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $819. Here are the most affordable Northwest Indianapolis apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Legend at SpeedwayA11BR,1BA$799
The Stratford ApartmentsStudio W/ DenStudio,1BA$819
The Life at White PinesPINE1BR,1BA$849
The Meadows Apartment HomesStudio ClassicStudio,1BA$849
The Fields Apartment Homes1x1 Classic1BR,1BA$849
Waterfront Terrace1 Bed 1 Bath1BR,1BA$850
The Cedars Apartment HomesStudio Apartment - ClassicStudio,1BA$879
Woods at Oak CrossingOne Bedroom One Bath1BR,1BA$880
Residences at LawnviewOne Bedroom One Bath Mid-Rise1BR,1BA$889
River West FlatsOne Bedroom One Bath - The Driftwood1BR,1BA$919

Best Value Apartments for Rent in Northwest Indianapolis, IN

As of June 18, 2026 the best value apartment in the Northwest Indianapolis area is the $1.25 price per square foot 7178B1 Traditional 2x2 (1100 sqft) Model at Mansion Row Apartments in the in the Cheswick Place neighborhood starting from $1,379. The second greatest value Northwest Indianapolis apartment is the 2x1,5 Townhome Classic Model at The Riverside Apartment Homes starting at $1,299 with a $1.30 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.
Mansion Row Apartments7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.25
The Riverside Apartment Homes2x1,5 Townhome Classic2BR,1.5BA$1.30
Carriage House WestThe Kincaid2BR,1.5BA$1.35
The HermitageThe Haven2BR,2BA$1.40
Wildwood Village Apartments2 Bedroom 1 Bathroom2BR,1BA$1.28
Woods at Oak CrossingOne Bedroom One Bath1BR,1BA$1.14
The Life at White PinesPINE1BR,1BA$1.22
The Fields Apartment Homes1x1 Upgrade1BR,1BA$1.36
Waterfront Terrace1 Bed 1 Bath1BR,1BA$1.31
The Stratford Apartments1x1 - Classic1BR,1BA$1.34

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
Northwest Indianapolis, Indianapolis, IN

Ranked #154

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
Northwest Indianapolis, Indianapolis, IN

School data provided by Great Schools

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 $919.

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

The cheapest apartment in Northwest Indianapolis is The Legend at Speedway which is listed at $799, while the average apartment in Northwest Indianapolis costs $1,370.

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 30 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 $417 which is $953 cheaper than the average rent for all rentals in Northwest 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.