Cheap Apartments for Rent in the Ransom Place Neighborhood of Indianapolis, IN from $500 (58 Rentals)

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

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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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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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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Northside Flats Apartments
Studio to 2 Bedroom Apartments

Northside Flats Apartments

1503 N Pennsylvania StIndianapolis, IN 46202
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Windsor
Studio to 1 Bedroom Apartments

Windsor

1235 N Delaware StIndianapolis, IN 46202
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Barbee
1 Bedroom Apartments

Barbee

1215 N Pennsylvania StIndianapolis, IN 46202
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The Jordan
Studio to 1 Bedroom Apartments

The Jordan

1445 N Delaware StIndianapolis, IN 46202
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PICCADILLY
Studio to 3 Bedroom Apartments

PICCADILLY

28 E 16th StIndianapolis, IN 46202
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The Harrison
Studio to 1 Bedroom Apartments

The Harrison

1320 N Delaware StIndianapolis, IN 46202
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The Marleigh
Studio to 1 Bedroom Apartments

The Marleigh

1434-1448 N Delaware StIndianapolis, IN 46202
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1733 N. Meridian
1 Bedroom Apartments

1733 N. Meridian

1733 N Meridian StIndianapolis, IN 46202
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Madison Apartments
1 to 2 Bedroom Apartments

Madison Apartments

226 E 12th StIndianapolis, IN 46202
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Capitol Manor
1 Bedroom Apartments

Capitol Manor

842 N Capitol AveIndianapolis, IN 46204
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Victoria Apartments
Studio Apartments

Victoria Apartments

1244 N Illinois StIndianapolis, IN 46202
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Canal Gardens
1 to 2 Bedroom Apartments

Canal Gardens

1249 Dr Martin Luther King Jr StIndianapolis, IN 46202
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The Seminole
1 Bedroom Apartments

The Seminole

920 N Alabama StIndianapolis, IN 46202
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Campus Townhomes
2 Bedroom Apartments

Campus Townhomes

531 Ransom StIndianapolis, IN 46202
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Stonegate Apartments
Studio to 3 Bedroom Apartments

Stonegate Apartments

1220-1226 N Illinois StIndianapolis, IN 46202
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Raleigh
Studio to 2 Bedroom Apartments

Raleigh

108 E 13th StIndianapolis, IN 46202
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PENN ARTS
1 to 2 Bedroom Apartments

PENN ARTS

111 E 16th StIndianapolis, IN 46202
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Van Dyke
Studio to 2 Bedroom Apartments

Van Dyke

1229 N Pennsylvania StIndianapolis, IN 46202
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Spink
Studio to 1 Bedroom Apartments

Spink

1433 N Pennsylvania StIndianapolis, IN 46202

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Ransom Place, Indianapolis, IN Local Guide

Cheapest Available Ransom Place Apartments for Rent

 

The cheapest available apartment rental in the Ransom Place area of Indianapolis, IN is a Studio unit found at Dunbar Court priced from $660. INDY FLATS has the second lowest priced unit, which is a Studio apartment currently listed from $705. Here are the most affordable Ransom Place apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Dunbar CourtStudioStudio,1BA$660
INDY FLATSSherwood Std DStudio,1BA$705
St. Agnes ApartmentsStudio- Large 5th*Studio,1BA$789
Madison ApartmentsOne bedroom1BR,1BA$795
Wesley PlacePeckStudio,1BA$803
Canal Gardens2.1 40%2BR,1BA$891
The WhitakerOne Bedroom1BR,1BA$895
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$899
Traymore ApartmentsOne Bedroom1BR,1BA$925
Senate ManorS.1 CStudio,1BA$930

Best Value Apartments for Rent in Ransom Place, IN

As of January 28, 2026 the best value apartment in the Ransom Place area is the $0.97 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,750. The second greatest value Ransom Place apartment is the 2 Bedroom 1 Bath Model at The Block starting at $1,849 with a $1.55 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Ransom Place apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shoemaker Buildingloft2BR,2BA$0.97
The Block2 Bedroom 1 Bath2BR,1BA$1.55
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.28
Indy Colonial Apartments3111BR,1BA$1.05
Canal Gardens2.1 40%2BR,1BA$0.93
Van DykeVan Dyke 1B 8301BR,1BA$1.55
Madison ApartmentsTwo bedroom2BR,1BA$1.40
The Washington2 Bedroom2BR,1BA$1.47
The WhitakerOne Bedroom1BR,1BA$1.49
Traymore ApartmentsOne Bedroom1BR,1BA$1.54

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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
Ransom Place, Indianapolis, IN

Ranked #22

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in cities and towns across the United States, including Indianapolis. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and easy access to the parks, pet-friendly features, apartment complexes for the kids, proximity to transit, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Ransom Place Apartments

What is a cheap apartment in Ransom Place?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Ransom Place is under $930.

What is the price of a cheap apartment in Ransom Place?

The cheapest apartment in Ransom Place is Madison Apartments which is listed at $795, while the average apartment in Ransom Place costs $2,700.

What types of apartments are the cheapest in Ransom Place?

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 76 regular apartments in Ransom Place 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 Ransom Place?

Cheap apartments in Ransom Place have an average cost of $348 which is $2,352 cheaper than the average rent for all rentals in Ransom Place.

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.

Articles, How-To's, and Tips

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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.

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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.