Cheap Homes for Rent in Riverside Neighborhood of Indianapolis, IN from $700 (66 Rentals)

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Search the lowest-cost Homes available for rent right now in the Riverside 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.

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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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property at 3450 Graceland Ave

$1,075

Total Monthly Price

Total Monthly Price

Base Rent
$1,075
Total Monthly Price
$1,075

3 Bedroom, 1 Bath Townhome for Rent

Available Now

3450 Graceland Ave

IndianapolisIN46208
property at 538 W 29th St

$1,099 - $1,349

2 To 3 Bedroom Rentals

Available Now

538 W 29th St

IndianapolisIN46208

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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property at 230 E 9th St

$1,200 - $3,469

1 Bedroom Rentals

Available Now

230 E 9th St

IndianapolisIN46204
property at 230 E 9th St

$1,250

Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250

1 Bedroom, 1 Bath Condo for Rent

Available Now

230 E 9th St, Unit 304, Unit 304

230 E 9th St
IndianapolisIN46204

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.

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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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Showing Results 1-50, Page 1 of 2

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 632MLK priced from $200. Meridian Towers has the second lowest priced unit, which is a Studio apartment currently listed from $629. Here are the most affordable Riverside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
632MLKWaiting ListStudio,1BA$200
Meridian TowersStudio ApartmentStudio,1BA$629
INDY FLATSSherwood Std DStudio,1BA$655
Dunbar CourtStudioStudio,1BA$665
Oxmoor Indy1BR/1.0BA1BR,1BA$699
34 North ApartmentsStudioStudio,1BA$725
Wildwood Village Apartments1 Bedroom 1 Bathroom1BR,1BA$750
1733 N. Meridian1BR1BR,1BA$780
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
Parkway1 Bedroom1BR,1BA$799

Best Value Apartments for Rent in Riverside, IN

As of April 16, 2026 the best value apartment in the Riverside 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 Riverside apartment is the 1137 W 21st St Model at 1137 W 21st St starting at $1,700 with a $1.13 price per square foot in the Cheswick Place 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$0.97
1137 W 21st St1137 W 21st St3BR,2BA$1.13
Woods at Oak CrossingThree Bedroom Two Bath3BR,2BA$1.07
The Star2 Bed2BR,1BA$0.76
Oxmoor Indy3BR/1.0BA3BR,1BA$1.00
Canal Gardens2.1 40%2BR,1BA$0.93
The Davlan2-12BR,1BA$0.95
1733 N. Meridian1BR1BR,1BA$1.04
The MeridianThe Delaware2BR,1BA$1.24
The Fields Apartment Homes1x1 Classic1BR,1BA$1.24

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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 #3

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

Frequently Asked Questions about Riverside

What type of rentals are currently available in Riverside?

There are currently 290 Apartments for Rent in Riverside, IN with pricing that ranges from $200 to $5,817. There are also 142 Single Family Homes for rent, Condos, and Townhome rentals currently available in Riverside ranging from $749 to $4,000.

What is the current price range for Rental Homes in Riverside?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Riverside ranges from $749 to $4,000 with an average monthly rent of $1,691.

How much are larger Three and Four Bedroom Rentals in Riverside?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Riverside range from $950 to $5,225, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,075 to $3,000. Four Bedroom Single-Family rentals are also available starting from $1,495 and Four Bedroom Apartments start at $600.

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.

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.

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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.

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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.