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
$741 - $2,066
Total Monthly Price

Total Monthly Price

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$741 - $2,066
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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 Studio unit found at Franklin Studios priced from $665. M Club Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $741. Here are the most affordable Towne and Terrace apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Franklin StudiosStudioStudio,1BA$665
M Club ApartmentsA11BR,1BA$741
Postbrook East Apartments2bd TH Remodeled2BR,1BA$745
OlivewoodStudioStudio,1BA$750
Willowood EastStudioStudio,1BA$760
Spanish OaksStudioStudio,1BA$775
Maison Gardens Apartments2 BDR Remodeled2BR,1BA$780
Kingston Square ApartmentsThe AshStudio,1BA$799
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$842
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$850

Best Value Apartments for Rent in Towne and Terrace, IN

As of June 13, 2026 the best value apartment in the Towne and Terrace area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Towne and Terrace apartment is the 2 Bed 1 Bath Model at Brookhaven Apartments starting at $1,050 with a $0.89 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.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.89
Postbrook East Apartments3 bd F Remod3BR,1BA$1.07
The Lenox Apartment HomesThe Bedford - Renovated2BR,2BA$1.19
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
The Reserve at Franklin Glenn2 Bedroom 2 Bathroom2BR,2BA$1.30
The Life at Harrison Trails2 BED 1 BATH2BR,1BA$1.30
Serenity Park ApartmentsNOW LEASING – NEW MANAGEMENT – APARTMENTS GOING...2BR,1BA$1.16
Warren Harbor ApartmentsThe York1BR,1BA$1.34
Maison Gardens Apartments1BD R1BR,1BA$1.32

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 $850.

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 $741, while the average apartment in Towne and Terrace costs $1,524.

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 2 regular apartments in Towne and Terrace that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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