Cheap Apartments for Rent in the Thompson-Edgewood Neighborhood of Indianapolis, IN from $600 (35 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Thompson-Edgewood 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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Rosedale Hills
Studio to 3 Bedroom Apartments

Rosedale Hills

2139 E Hanna AveIndianapolis, IN 46227
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Crossroads at Madison
Studio to 2 Bedroom Apartments

Crossroads at Madison

4725 Madison AveIndianapolis, IN 46227
  • Utilities Included

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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Estate View
1 to 2 Bedroom Apartments

Estate View

6768 S East StIndianapolis, IN 46227
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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227
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Windsor Court
1 to 2 Bedroom Apartments

Windsor Court

7302 Queen Anne CtIndianapolis, IN 46227
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Spicewood
Studio to 2 Bedroom Apartments

Spicewood

354 Spicewood DrIndianapolis, IN 46227
Senior Living
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South & Madison
Studio to 3 Bedroom Apartments

South & Madison

1819 Madison Village DrIndianapolis, IN 46227
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Crossroads at Southgreen
1 to 2 Bedroom Apartments

Crossroads at Southgreen

5030 Southgreen DrIndianapolis, IN 46227
  • Utilities Included

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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Fairfax Duplexes
2 Bedroom Apartments

Fairfax Duplexes

2123 Fairfax RdIndianapolis, IN 46227
Showing Results 1-35, Page 1 of 1

Thompson-Edgewood, Indianapolis, IN Local Guide

Cheapest Available Thompson-Edgewood Apartments for Rent

 

The cheapest available apartment rental in the Thompson-Edgewood area of Indianapolis, IN is a 1 Bed unit found at Windsor Court priced from $768. One Somerset Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $775. Here are the most affordable Thompson-Edgewood apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Windsor CourtStandard One Bedroom (SN1)1BR,1BA$768
One Somerset ApartmentsOne Somerset - 1 Bed/1 Bath* Call about our Mov...2BR,1BA$775
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$790
Pine GlenMaple Vintage1BR,1BA$799
SpicewoodStudioStudio,1BA$799
South & MadisonE2Studio,1BA$809
Cherry GlenStudioStudio,1BA$819
Brookwood Apartments1 Bedroom 1 Bathroom1BR,1BA$839
Parc Bordeaux ApartmentsStudioStudio,1BA$850
Buckridge at Southport1BR/1.0BA1BR,1BA$900

Best Value Apartments for Rent in Thompson-Edgewood, IN

As of June 11, 2026 the best value apartment in the Thompson-Edgewood area is the $1.12 price per square foot 3Bd/1.5Ba Dn W/D Model at Martinique Terrace in the in the Winchester Village neighborhood starting from $1,459. The second greatest value Thompson-Edgewood apartment is the Two Bedroom 1.5 Bath Model at Fox Club starting at $1,100 with a $1.10 price per square foot in the Shelby Street-Epler Avenue neighborhood. Here is today’s list of the best values for Thompson-Edgewood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Martinique Terrace3Bd/1.5Ba Dn W/D3BR,1.5BA$1.12
Fox ClubTwo Bedroom 1.5 Bath2BR,1.5BA$1.10
Brookwood Apartments3 Bedroom 1.5 Bath3BR,1.5BA$1.40
Capital PlaceTwo Bedroom One Bath TH2BR,1BA$1.13
Pine GlenOak Renovated2BR,1BA$1.40
Buckridge at Southport1BR/1.0BA1BR,1BA$1.25
SOUTHPORT AT BUCK CREEK1 Bedroom1BR,1BA$1.39
City Heights1 x 11BR,1BA$1.44
South & MadisonE2Studio ,1BA$1.19
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$1.51

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
Thompson-Edgewood, Indianapolis, IN

Ranked #125

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap Thompson-Edgewood Apartments

What is a cheap apartment in Thompson-Edgewood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Thompson-Edgewood is under $900.

What is the price of a cheap apartment in Thompson-Edgewood?

The cheapest apartment in Thompson-Edgewood is Windsor Court which is listed at $768, while the average apartment in Thompson-Edgewood costs $1,459.

What types of apartments are the cheapest in Thompson-Edgewood?

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 39 regular apartments in Thompson-Edgewood 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 Thompson-Edgewood?

Cheap apartments in Thompson-Edgewood have an average cost of $227 which is $1,232 cheaper than the average rent for all rentals in Thompson-Edgewood.

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.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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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

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.