Cheap Apartments for Rent in the Oaklandon Neighborhood of Indianapolis, IN from $400 (51 Rentals)

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

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M Club Apartments
Rent Specials
$789 - $1,746
Total Monthly Price

Total Monthly Price

Base Rent
$789 - $1,746
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

M Club Apartments

7007 Courthouse DrIndianapolis, IN 46226
Affordability
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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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Lake Castleton Apartments
Rent Specials
$980 - $1,654
Total Monthly Price

Total Monthly Price

Base Rent
$980 - $1,654
Total Monthly Price
$980 - $1,654
Studio to 2 Bedroom Apartments Available Now

Lake Castleton Apartments

7601 Carlton Arms DrIndianapolis, IN 46256
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  • 3D Tour

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Cavalier Court
1 to 3 Bedroom Apartments

Cavalier Court

9108 E 38th PlIndianapolis, IN 46235
  • Utilities Included
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Maplewood
2 to 3 Bedroom Apartments

Maplewood

12451 Pendleton PikeIndianapolis, IN 46236
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Peppermill Farms
1 to 2 Bedroom Apartments

Peppermill Farms

6830 Mill View DrIndianapolis, IN 46226
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Bellagio Living I
1 to 2 Bedroom Apartments

Bellagio Living I

9025 El Dorado PlIndianapolis, IN 46236
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Bellagio Living II
1 Bedroom Apartments

Bellagio Living II

8953 Brigadier DrIndianapolis, IN 46226
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Lawrence Landing
1 to 2 Bedroom Apartments

Lawrence Landing

6875 Faris AveIndianapolis, IN 46226
  • Utilities Included

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

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Lawrence Glen
1 to 2 Bedroom Apartments

Lawrence Glen

8633 E 46th StIndianapolis, IN 46226
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The Haciendas
1 to 3 Bedroom Apartments

The Haciendas

3816 Trilbey DrIndianapolis, IN 46235
  • 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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Oaklandon, Indianapolis, IN Local Guide

Cheapest Available Oaklandon Apartments for Rent

 

The cheapest available apartment rental in the Oaklandon area of Indianapolis, IN is a Studio unit found at Spanish Oaks priced from $725. Franklin Studios has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Oaklandon apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Spanish OaksStudioStudio,1BA$725
Franklin StudiosStudioStudio,1BA$725
Peppermill Farms1BR1BR,1BA$735
Autumn Trails ApartmentsThe MapleStudio,1BA$749
Willowood EastStudioStudio,1BA$760
Maison Gardens Apartments1BD R1BR,1BA$785
Kingston Square ApartmentsThe AshStudio,1BA$799
The Vineyards Apartment HomesStudio ClassicStudio,1BA$819
Postbrook East Apartments1bd F1BR,1BA$820
M Club ApartmentsB12BR,1BA$825

Best Value Apartments for Rent in Oaklandon, IN

As of May 01, 2026 the best value apartment in the Oaklandon area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Oaklandon apartment is the 2 Bed 1 Bath Model at Brookhaven Apartments starting at $1,050 with a $0.89 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Oaklandon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.89
Postbrook East Apartments3 bd F Remod3BR,1BA$1.07
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
Peppermill Farms2BR2BR,1BA$1.26
The Life at Harrison Trails2 BED 1 BATH2BR,1BA$1.30
Lawrence LandingOne Bedroom1BR,1BA$1.12
The Lenox Apartment HomesThe Andover - Upgraded1BR,1BA$1.31
Timber Point ApartmentsThe Ayers1BR,1BA$1.32
Maison Gardens Apartments1BD R1BR,1BA$1.32

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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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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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Pet Friendly Lifestyle
Oaklandon, Indianapolis, IN

Ranked #115

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Oaklandon, Indianapolis, IN

School data provided by Great Schools

Lifestyle Ratings

Our team of engineers and researchers compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States, including Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, transit availability, pet-friendly communities, apartment complexes for the kids, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Oaklandon Apartments

What is a cheap apartment in Oaklandon?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Oaklandon is under $825.

What is the price of a cheap apartment in Oaklandon?

The cheapest apartment in Oaklandon is Peppermill Farms which is listed at $735, while the average apartment in Oaklandon costs $1,600.

What types of apartments are the cheapest in Oaklandon?

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 24 regular apartments in Oaklandon 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 Oaklandon?

Cheap apartments in Oaklandon have an average cost of $315 which is $1,285 cheaper than the average rent for all rentals in Oaklandon.

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.

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