Cheap Apartments for Rent in the Northwest Indianapolis Neighborhood of Indianapolis, IN from $400 (39 Rentals)

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

Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

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property at 1254 W 23rd St

$875 - $925

2 Bedroom Rentals

Available Now

1254 W 23rd St

IndianapolisIN46208

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Fisher Apartments
Studio Apartments

Fisher Apartments

5125 W 10th StIndianapolis, IN 46224
  • Utilities Included

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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The Reserve at White River
1 to 2 Bedroom Apartments

The Reserve at White River

2774 Pixel RdIndianapolis, IN 46222
Senior Living
  • Utilities Included

Northwest Indianapolis - 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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The Legend at Speedway
1 to 2 Bedroom Apartments

The Legend at Speedway

2202 Fair Oaks DrSpeedway, IN 46224
Corporate Housing
Showing Results 1-39, 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 Apartments priced from $699. The Legend at Speedway has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Northwest Indianapolis apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Stratford ApartmentsStudioStudio,1BA$699
The Legend at SpeedwayA11BR,1BA$799
Residences at LawnviewOne Bedroom One Bath Mid-Rise1BR,1BA$849
The Life at White PinesPINE1BR,1BA$849
The Fields Apartment Homes1x1 Upgrade1BR,1BA$909
The HermitageThe Retreat1BR,1BA$912
Carriage House WestThe Windsor1BR,1BA$995
Aura ApartmentsAUA21BR,1BA$1,049
Abney Lake1 Bedroom Upgrade1BR,1BA$1,064
Wildwood Village Apartments2 Bedroom 2 Bathroom2BR,2BA$1,135

Best Value Apartments for Rent in Northwest Indianapolis, IN

As of August 03, 2026 the best value apartment in the Northwest Indianapolis area is the $1.19 price per square foot AUB3RENO Model at Aura Apartments in the in the Cheswick Place neighborhood starting from $1,450. The second greatest value Northwest Indianapolis apartment is the 7178B1 Traditional 2x2 (1100 sqft) Model at Mansion Row Apartments starting at $1,359 with a $1.24 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.
Aura ApartmentsAUB3RENO2BR,2BA$1.19
Mansion Row Apartments7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.24
Wildwood Village Apartments2 Bedroom 2 Bathroom2BR,2BA$1.07
The Meadows Apartment Homes2x1 Townhome Classic2BR,1BA$1.26
Carriage House WestThe Kincaid2BR,1.5BA$1.35
The Residence at White River ApartmentsHARRISON - B12BR,1BA$1.26
The HermitageThe Haven2BR,2BA$1.41
The Life at White PinesPINE1BR,1BA$1.22
The Fields Apartment Homes1x1 Renovated1BR,1BA$1.51
The Legend at SpeedwayA11BR,1BA$1.40

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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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 #163

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 the Cheapest Studio apartment in Northwest Indianapolis?

Currently the most affordable Cheap Studio Apartment in Northwest Indianapolis is at The Stratford Apartments listed at $699.

How much is rent for a Cheap One Bedroom Northwest Indianapolis Apartment?

The lowest price for a Cheap One Bedroom Northwest Indianapolis Apartment is $799 at The Legend at Speedway.

What is the lowest price for a Cheap Two Bedroom Northwest Indianapolis Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Northwest Indianapolis is starting from $917 at The Legend at Speedway.

What is the most affordable Northwest Indianapolis Three Bedroom Apartment?

The best deal on a cheap Northwest Indianapolis Three Bedroom Apartment rental is at Residences at Lawnview and starts from $1,199.

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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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.

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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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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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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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.