Cheap Apartments for Rent in the Towne and Terrace Neighborhood of Indianapolis, IN from $600 (28 Rentals)

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

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Jamestowne Apartments
1 to 3 Bedroom Apartments

Jamestowne Apartments

8917 Duxbury RdIndianapolis, IN 46226
  • Utilities Included

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Cavalier Court
1 to 3 Bedroom Apartments

Cavalier Court

9108 E 38th PlIndianapolis, IN 46235
  • Utilities Included
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Maison Gardens
1 to 3 Bedroom Apartments

Maison Gardens

8808 Rue Madeleine RueIndianapolis, IN 46226
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Lawrence Glen
1 to 2 Bedroom Apartments

Lawrence Glen

8633 E 46th StIndianapolis, IN 46226
Showing Results 1-28, Page 1 of 1

Towne and Terrace, Indianapolis, IN Local Guide

Cheapest Available Towne and Terrace Apartments for Rent

 

The cheapest available apartment rental in the Towne and Terrace area of Indianapolis, IN is a Studio unit found at M Club Apartments priced from $709. Willowood East has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Towne and Terrace apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
M Club ApartmentsS1Studio,1BA$709
Willowood EastStudioStudio,1BA$725
Franklin StudiosStudioStudio,1BA$725
Autumn Trails ApartmentsThe MapleStudio,1BA$749
Serenity Park ApartmentsBecome an Eastsider Today! Get 1 month free on ...1BR,1BA$769
The Vineyards Apartment HomesStudio ApartmentStudio,1BA$779
Spanish OaksStudioStudio,1BA$799
Bavarian Village ApartmentsThe Villa StudioStudio,1BA$821
Kingston Square ApartmentsThe AshStudio,1BA$829
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$842

Best Value Apartments for Rent in Towne and Terrace, IN

As of September 10, 2025 the best value apartment in the Towne and Terrace area is the $0.89 price per square foot 3 bedroom Townhouse Model at Bristol Square in the in the Southeast Indianapolis neighborhood starting from $1,225. The second greatest value Towne and Terrace apartment is the Your Dream Apartment! Model at The Reserve at Franklin Glenn I LP starting at $1,490 with a $1.25 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Towne and Terrace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Bristol Square3 bedroom Townhouse3BR,2.5BA$0.89
The Reserve at Franklin Glenn I LPYour Dream Apartment!3BR,2BA$1.25
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.89
Carriage House East3 Bedroom Townhome Empowerment3BR,1.5BA$1.29
Lawrence LandingTwo Bedroom2BR,1.5BA$1.08
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
The Lenox Apartment Homes1 Bed 1 Bath Apartment - Renovated1BR,1BA$1.25
M Club ApartmentsA21BR,1BA$1.34
The Life at Harrison Trails1 BED 1 BATH B1BR,1BA$1.31
Serenity Park ApartmentsBecome an Eastsider Today! Get 1 month free on ...1BR,1BA$1.29

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Pet Friendly Lifestyle
Towne And Terrace, Indianapolis, IN

Ranked #76

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Towne and Terrace Apartments

What is a cheap apartment in Towne and Terrace?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Towne and Terrace is under $842.

What is the price of a cheap apartment in Towne and Terrace?

The cheapest apartment in Towne and Terrace is M Club Apartments which is listed at $714, while the average apartment in Towne and Terrace costs $1,718.

What types of apartments are the cheapest in Towne and Terrace?

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 20 regular apartments in Towne and Terrace 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 Towne and Terrace?

Cheap apartments in Towne and Terrace have an average cost of $451 which is $1,267 cheaper than the average rent for all rentals in Towne and Terrace.

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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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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.