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$649Studio Apartments Available Now
4985 N Franklin Rd, Unit 1
4985 N Franklin RdIndianapolis, IN 46226
Cheap Homes for Rent in Towne and Terrace Neighborhood of Indianapolis, IN from $1,000 (4 Rentals)
Search the lowest-cost Homes available for rent right now in the Towne and Terrace area of Indianapolis.
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$649Studio Apartments Available Now
4985 N Franklin Rd, Unit Apt 42
4985 N Franklin RdIndianapolis, IN 46226
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.
3809 Biscayne Rd
IndianapolisIN46226
8254 Meadowlark Dr
IndianapolisIN46226
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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Towne and Terrace, Indianapolis, IN Local Guide
How much does it cost to rent a home in Towne and Terrace?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Towne and Terrace 2 Bedroom Homes for Rent | $1,095 | $1,095 | $1,095 |
| Towne and Terrace 3 Bedroom Homes for Rent | $1,450 | $1,150 | $1,940 |
| Towne and Terrace 4 Bedroom Homes for Rent | $1,547 | $1,395 | $1,750 |
Browse Homes for Rent in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Towne and Terrace Neighborhood of Indianapolis, IN.
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Best Value Apartments for Rent in Towne and Terrace, IN
As of May 24, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Shadeland Terrace Townhomes w/Full Basements | 2 BR / 1.5 BA | 2BR,1.5BA | $1.07 |
| Brookhaven Apartments | 2 Bed 1 Bath | 2BR,1BA | $0.89 |
| Postbrook East Apartments | 3 bd F Remod | 3BR,1BA | $1.07 |
| Apartments @ Marten Court | 2x1 with washer/dryer | 2BR,1BA | $1.23 |
| The Reserve at Franklin Glenn | 2 Bedroom 2 Bathroom | 2BR,2BA | $1.30 |
| Maison Gardens Apartments | 2BD | 2BR,1BA | $1.08 |
| The Life at Harrison Trails | 2 BED 1 BATH | 2BR,1BA | $1.30 |
| Crosswinds | Earhart | 2BR,1BA | $1.28 |
| Bristol Square | 1 Bedroom Loft | 1BR,1.5BA | $1.13 |
| The Lenox Apartment Homes | The Andover - Upgraded | 1BR,1BA | $1.31 |
Frequently Asked Questions about Towne and Terrace
What type of rentals are currently available in Towne and Terrace?
There are currently 52 Apartments for Rent in Towne and Terrace, IN with pricing that ranges from $649 to $3,251. There are also 25 Single Family Homes for rent, Condos, and Townhome rentals currently available in Towne and Terrace ranging from $1,095 to $1,940.
What is the current price range for Rental Homes in Towne and Terrace?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Towne and Terrace ranges from $1,095 to $1,940 with an average monthly rent of $1,364.
How much are larger Three and Four Bedroom Rentals in Towne and Terrace?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Towne and Terrace range from $1,100 to $3,251, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,150 to $1,940. Four Bedroom Single-Family rentals are also available starting from $1,395 and Four Bedroom Apartments start at $1,825.
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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