Cheap Apartments for Rent in the Towne and Terrace Neighborhood of Indianapolis, IN from $600 (37 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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M Club Apartments
Rent Specials
$814 - $1,759
Total Monthly Price

Total Monthly Price

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$814 - $1,759
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Studio to 2 Bedroom Apartments Available Now

M Club Apartments

7007 Courthouse DrIndianapolis, IN 46226
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Cavalier Court
1 to 3 Bedroom Apartments

Cavalier Court

9108 E 38th PlIndianapolis, IN 46235
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Lawrence Glen
1 to 2 Bedroom Apartments

Lawrence Glen

8633 E 46th StIndianapolis, IN 46226

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Showing Results 1-37, Page 1 of 1

Cheapest Available Towne and Terrace Apartments for Rent

 

The cheapest available apartment rental in the Towne and Terrace area of Indianapolis, IN is a 1 Bed unit found at Maison Gardens Apartments priced from $640. Spanish Oaks 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
Maison Gardens Apartments1BD R1BR,1BA$640
Spanish OaksStudioStudio,1BA$725
Franklin StudiosStudioStudio,1BA$725
Autumn Trails ApartmentsThe MapleStudio,1BA$749
Kingston Square ApartmentsThe AshStudio,1BA$799
M Club ApartmentsB12BR,1BA$814
The Vineyards Apartment HomesStudio ClassicStudio,1BA$819
Postbrook East Apartments1bd F1BR,1BA$820
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$842
Willowood EastOne Bed One Bath1BR,1BA$860

Best Value Apartments for Rent in Towne and Terrace, IN

As of April 28, 2026 the best value apartment in the Towne and Terrace area is the $1.07 price per square foot 3 bd F Remod Model at Postbrook East Apartments in the in the Southeast Indianapolis neighborhood starting from $1,180. The second greatest value Towne and Terrace apartment is the 3 Bedroom Townhome Empowerment Model at Carriage House East starting at $1,508 with a $1.37 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.
Postbrook East Apartments3 bd F Remod3BR,1BA$1.07
Carriage House East3 Bedroom Townhome Empowerment3BR,1.5BA$1.37
Country Lake TownhomesThe Prince2BR,1.5BA$1.35
Warren Harbor ApartmentsThe Luxor2BR,2BA$1.32
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
Maison Gardens Apartments2 BD Partial R2BR,1BA$1.10
The Life at Harrison Trails2 BED 1 BATH2BR,1BA$1.30
CrosswindsEarhart2BR,1BA$1.28
Bristol Square1 Bedroom Loft1BR,1.5BA$1.13
The Lenox Apartment HomesThe Andover - Upgraded1BR,1BA$1.31

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 $860.

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

The cheapest apartment in Towne and Terrace is Maison Gardens Apartments which is listed at $640, while the average apartment in Towne and Terrace costs $1,825.

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 34 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 $614 which is $1,211 cheaper than the average rent for all rentals in Towne and Terrace.

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.

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