Cheap Apartments for Rent in the Riverside Neighborhood of Indianapolis, IN from $300 (107 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
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 Riverside area of Indianapolis.

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.

Read Article

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.

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
property at 1 W 28th St

1 W 28th St

IndianapolisIN46208

Riverside - 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!

Read Article
property at 126 E Vermont St

126 E Vermont St

IndianapolisIN46204
Showing Results 1-50, Page 1 of 3

Riverside, Indianapolis, IN Local Guide

Cheapest Available Riverside Apartments for Rent

 

The cheapest available apartment rental in the Riverside area of Indianapolis, IN is a Studio unit found at The Stella priced from $370. Vivio on Tenth has the second lowest priced unit, which is a 4 Beds apartment currently listed from $600. Here are the most affordable Riverside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The StellaSA 30%Studio,1BA$370
Vivio on Tenth4x2-11584BR,2BA$600
Oxmoor Indy1BR/1.0BA1BR,1BA$699
Meridian TowersStudio ApartmentStudio,1BA$699
Woods at Oak CrossingOne Bedroom One Bath1BR,1BA$755
Fields Apartments1 Bedroom 1 Bath Apartment1BR,1BA$755
The Seminole1br1BR,1BA$833
El Dorado1 Bedroom 1 Bath1BR,1BA$859
Abney Lake1 Bedroom Fireplace1BR,1BA$874
Maple Court2 Bed Remodel2BR,1BA$875

Best Value Apartments for Rent in Riverside, IN

As of May 26, 2025 the best value apartment in the Riverside area is the $1.08 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,950. The second greatest value Riverside apartment is the 1 Bedroom 1 Bath Model at The Block starting at $1,539 with a $1.06 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Riverside apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shoemaker Buildingloft2BR,2BA$1.08
The Block1 Bedroom 1 Bath1BR,1BA$1.06
Mansion Row - Where Historic Charm Meets Modern7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.18
Proctor Place2 Bedroom2BR,1BA$1.17
Maple Court2 Bed Remodel2BR,1BA$1.17
The Sheldrake Apartments1 Bedroom With Den1BR,1BA$1.17
The Seminole1br1BR,1BA$1.13
Oxmoor Indy1BR/1.0BA1BR,1BA$1.00
Fields Apartments1 Bedroom 1 Bath Apartment1BR,1BA$1.13
Vivio on Tenth2x2-7282BR,2BA$1.09

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Riverside, Indianapolis, IN

Ranked #5

Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Best Local Schools in
Riverside, Indianapolis, IN

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, and customized analysis for Indianapolis, Indiana. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, kid and pet-friendly communities, availability of transit options, and more. These search options are in the site filters at the top of this page.

Getting Around the Riverside Neighborhood in Indianapolis, IN

Walk Score®

33 / 100

Car-Dependent

Most errands require a car

Bike Score®

43 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

35 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Riverside Apartments

What is a cheap apartment in Riverside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Riverside is under $875.

What is the price of a cheap apartment in Riverside?

The cheapest apartment in Riverside is The Stella which is listed at $398, while the average apartment in Riverside costs $1,849.

What types of apartments are the cheapest in Riverside?

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 51 regular apartments in Riverside 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 Riverside?

Cheap apartments in Riverside have an average cost of $192 which is $1,657 cheaper than the average rent for all rentals in Riverside.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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 The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.