Cheap Apartments for Rent in the Park Valley Estates Neighborhood of Indianapolis, IN from $500 (33 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in the Park Valley Estates 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.

Read Article

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.

Read Article
close
View Me
Cavalier Court
1 to 3 Bedroom Apartments

Cavalier Court

9108 E 38th PlIndianapolis, IN 46235
  • Utilities Included

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.

Read Article
close
View Me
Atrium Village
2 Bedroom Apartments

Atrium Village

2636 N Mitthoeffer RdIndianapolis, IN 46229
close
View Me
Braeburn Village
1 to 4 Bedroom Apartments

Braeburn Village

2170 Braeburn East DrIndianapolis, IN 46219
close
View Me
Freeman Apartments
1 to 2 Bedroom Apartments

Freeman Apartments

9117 Briergate CtIndianapolis, IN 46229
  • Utilities Included
close
View Me
The Haciendas
1 to 3 Bedroom Apartments

The Haciendas

3816 Trilbey DrIndianapolis, IN 46235
  • Utilities Included

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.

Read Article
Showing Results 1-33, Page 1 of 1

Cheapest Available Park Valley Estates Apartments for Rent

 

The cheapest available apartment rental in the Park Valley Estates area of Indianapolis, IN is a Studio unit found at Spanish Oaks priced from $725. Willowood East has the second lowest priced unit, which is a Studio apartment currently listed from $760. Here are the most affordable Park Valley Estates apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Spanish OaksStudioStudio,1BA$725
Willowood EastStudioStudio,1BA$760
OlivewoodStudioStudio,1BA$830
Knoll Ridge Townhomes1 Bed, 1 Bath1BR,1BA$850
StonehengeStudioStudio,1BA$874
Lake Marina ApartmentsThe Runabout1BR,1BA$899
Elmtree Park1 Bed 1 Bath1BR,1BA$900
Bristol Square1 Bedroom Loft1BR,1BA$910
Warren Harbor ApartmentsThe York1BR,1BA$925
Braeburn Village1X11BR,1BA$975

Best Value Apartments for Rent in Park Valley Estates, IN

As of April 16, 2026 the best value apartment in the Park Valley Estates area is the $1.28 price per square foot 4 Bed, 1.5 bath Townhome Model at Knoll Ridge Townhomes in the in the Southeast Indianapolis neighborhood starting from $1,600. The second greatest value Park Valley Estates apartment is the 3 Bedroom 2 Bath Model at Spanish Oaks starting at $1,550 with a $1.49 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Park Valley Estates apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Knoll Ridge Townhomes4 Bed, 1.5 bath Townhome4BR,1.5BA$1.28
Spanish Oaks3 Bedroom 2 Bath3BR,2BA$1.49
Country Lake TownhomesThe Prince2BR,1.5BA$1.35
Warren Harbor ApartmentsThe Luxor2BR,2BA$1.32
The Life at Belhaven Place2 Bed 2 Bath2BR,2BA$1.25
Teal Run Apartments2BR/1.0BA2BR,1BA$1.33
CrosswindsEarhart2BR,1BA$1.28
Bristol Square1 Bedroom Loft1BR,1.5BA$1.13
Cumberland Manor2 Bedroom 1 Bath2BR,1BA$1.26
Lake Marina ApartmentsThe Runabout1BR,1BA$1.40

Frequently Asked Questions about Cheap Park Valley Estates Apartments

What is a cheap apartment in Park Valley Estates?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Park Valley Estates is under $975.

What is the price of a cheap apartment in Park Valley Estates?

The cheapest apartment in Park Valley Estates is Spanish Oaks which is listed at $829, while the average apartment in Park Valley Estates costs $1,600.

What types of apartments are the cheapest in Park Valley Estates?

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 16 regular apartments in Park Valley Estates 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 Park Valley Estates?

Cheap apartments in Park Valley Estates have an average cost of $360 which is $1,240 cheaper than the average rent for all rentals in Park Valley Estates.

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

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

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.

decorative image for Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters article

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.

decorative image for Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods article

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.

decorative image for Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home article

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

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.