Cheap Apartments for Rent in the Riverside Neighborhood of Indianapolis, IN from $500 (123 Rentals)

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

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.

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.

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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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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.

Read Article
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 Meridian Towers priced from $629. Oxmoor Indy has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here are the most affordable Riverside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Meridian TowersStudio ApartmentStudio,1BA$629
Oxmoor Indy1BR/1.0BA1BR,1BA$699
205 - MERIDIAN PLAZA APARTMENTS1B1BR,1BA$740
The Fields Apartment Homes1 Bedroom 1 Bath Apartment1BR,1BA$779
Parkway1 Bedroom1BR,1BA$799
The Riverside Apartment Homes1 Bedroom 1 Bath Apartment1BR,1BA$799
The Star2 Bed2BR,1BA$799
Union at 16th2 Bed 2 Bath2BR,2BA$820
Maple Court2 Bed Original2BR,1BA$849
Abney Lake1 Bedroom Fireplace1BR,1BA$874

Best Value Apartments for Rent in Riverside, IN

As of October 08, 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 2 Bedroom 2 Bath Model at The Block starting at $1,829 with a $1.02 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 Block2 Bedroom 2 Bath2BR,2BA$1.02
1924 N Talbott St, Unit 41924 N Talbott St3BR,2BA$1.16
Mansion Row - Where Historic Charm Meets Modern7178B1 Traditional 2x2 (1100 sqft)2BR,2BA$1.18
The Star2 Bed2BR,1BA$0.76
Oxmoor Indy3BR/1.0BA3BR,1BA$1.00
Indy Colonial ApartmentsOne Bedroom1BR,1BA$1.05
Canal Gardens2.1 40%2BR,1BA$0.93
205 - MERIDIAN PLAZA APARTMENTS1B1BR,1BA$1.02
The Fields Apartment Homes1 Bedroom 1 Bath Apartment1BR,1BA$1.16

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.

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Pet Friendly Lifestyle
Riverside, Indianapolis, IN

Ranked #9

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
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 $874.

What is the price of a cheap apartment in Riverside?

The cheapest apartment in Riverside is Oxmoor Indy which is listed at $699, while the average apartment in Riverside costs $1,985.

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 53 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 $314 which is $1,671 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.

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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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.