close
View Me
Rent Specials
from $600Studio to 4 Bedroom Apartments Available Now
Vivio on Tenth
1717 W 10th StIndianapolis, IN 46222
Cheap Apartments for Rent in the The Canal Neighborhood of Indianapolis, IN from $600 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the The Canal area of Indianapolis.
close
View Me
from $640Studio to 1 Bedroom Apartments Contact Us For Availability
Dunbar Court
1022 Dr Martin Luther King StIndianapolis, IN 46202
close
View Me
from $9891 to 2 Bedroom Apartments Available Now
Lockefield Gardens
737 Lockefield LnIndianapolis, IN 46202
close
View Me
from $1,000Studio Apartment Available Now
615 W 10th St, Unit Downstairs
615 W 10th StIndianapolis, IN 46202
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.
close
View Me
close
View Me
from $1,117Studio to 2 Bedroom Apartments Available Now
Canal Square
359 N West StIndianapolis, IN 46202
close
View Me
from $1,2001 to 3 Bedroom Apartments Available Now
946 MLK
946 Dr Martin Luther King Jr 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.
close
View Me
from $1,225Studio to 2 Bedroom Apartments Available Now
Rise on Meridian
915 S Meridian StIndianapolis, IN 46225
close
View Me
from $1,2491 to 2 Bedroom Apartments Available Now
Gardens of Canal Court
434 Canal Court South DrIndianapolis, IN 46202
close
View Me
close
View Me
from $1,367Studio to 2 Bedroom Apartments Available Now
Canal Overlook Apartments
430 N Indiana AveIndianapolis, IN 46202
close
View Me
close
View Me
close
View Me
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.
close
View Me
close
View Me
close
View Me
Studio to 4 Bedroom Apartments
632 MLK Apartments
632 Dr Martin Luther King Jr StIndianapolis, IN 46202
Showing Results 1-17, Page 1 of 1
The Canal, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in The Canal?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| The Canal Studio Apartments | $1,371 | $640 | $3,260 |
| The Canal 1 Bedroom Apartments | $1,725 | $875 | $4,010 |
| The Canal 2 Bedroom Apartments | $2,358 | $625 | $9,099 |
| The Canal 3 Bedroom Apartments | $3,370 | $1,995 | $6,310 |
| The Canal 4 Bedroom Apartments | $655 | $600 | $989 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the The Canal Neighborhood of Indianapolis, IN.
See all Apartments in IndianapolisExplore Indianapolis
The Canal, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available The Canal Apartments for Rent
The cheapest available apartment rental in the The Canal area of Indianapolis, IN is a 4 Beds unit found at Vivio on Tenth priced from $600. Lockefield Gardens has the second lowest priced unit, which is a 1 Bed apartment currently listed from $989. Here are the most affordable The Canal apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Vivio on Tenth | Per Bedroom - 4x2 D2 1158sf | 4BR,2BA | $600 |
| Lockefield Gardens | Standard One Bedroom (SR4) | 1BR,1BA | $989 |
| Senate Manor | 1.1 Ap | 1BR,1BA | $1,005 |
| Indiana Flats and Townhomes | 2 x 1 | 2BR,1BA | $1,095 |
| Canal Square | Arch | 1BR,1BA | $1,117 |
Best Value Apartments for Rent in The Canal, IN
As of June 01, 2025 the best value apartment in the The Canal area is the $1.06 price per square foot 1 Bedroom 1 Bath Model at The Block in the in the Riley neighborhood starting from $1,539. The second greatest value The Canal apartment is the Two Bedroom Two Bath (1,311 Square Feet) Model at Gardens of Canal Court starting at $1,683 with a $1.28 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for The Canal apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Block | 1 Bedroom 1 Bath | 1BR,1BA | $1.06 |
| Gardens of Canal Court | Two Bedroom Two Bath (1,311 Square Feet) | 2BR,2BA | $1.28 |
| Kennedy Apartments | 2 Bed 1 Bath | 2BR,1BA | $1.65 |
| Harding Street Lofts | 2.2 A2 | 2BR,2BA | $2.01 |
| 615 W 10th St, Unit Downstairs | 615 W 10th St | Studio ,1BA | $1.25 |
| Indiana Flats and Townhomes | 2 x 1 Townhome | 2BR,1BA | $1.63 |
| Vivio on Tenth | 1x1-706 | 1BR,1BA | $1.96 |
| 946 MLK | A3 | 1BR,1BA | $2.21 |
| Lockefield Gardens | Standard One Bedroom (S1) | 1BR,1BA | $1.85 |
| Senate Manor | 1.1 Ap | 1BR,1BA | $2.40 |
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.
Let everyone know!
Do you know the The Canal area?
If you’re an expert on all things The Canal, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleThe Canal, Indianapolis, IN
Ranked #32
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Getting Around the The Canal Neighborhood in Indianapolis, IN
Walk Score®
78 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
93 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
57 / 100
Good Transit
Many 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 The Canal Apartments
What is a cheap apartment in The Canal?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in The Canal is under $1,443.
What is the price of a cheap apartment in The Canal?
The cheapest apartment in The Canal is Lockefield Gardens which is listed at $989, while the average apartment in The Canal costs $2,915.
What types of apartments are the cheapest in The Canal?
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 31 regular apartments in The Canal 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 The Canal?
Cheap apartments in The Canal have an average cost of $475 which is $2,440 cheaper than the average rent for all rentals in The Canal.
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.
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.
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.
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.
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.