2722 Shelby St
IndianapolisIN46203
Cheap Apartments for Rent in the University Heights Neighborhood of Indianapolis, IN from $400 (16 Rentals)
Search the lowest-cost Apartments available for rent right now in the University Heights area of Indianapolis.
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$775 - $9951 to 2 Bedroom Apartments Available Now
One Somerset
3761 S State AveIndianapolis, IN 46227
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1 Bedroom Apartments
Parkside Living Apartments
2900 S Pennsylvania StIndianapolis, IN 46225
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Studio to 3 Bedroom Apartments
Rosedale Hills
2139 E Hanna AveIndianapolis, IN 46227
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1 to 2 Bedroom Apartments
Stone Lake
2913 E Hanna AveIndianapolis, IN 46227
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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Studio to 2 Bedroom Apartments
Garfield Terrace Apartments
2401 S Shelby StIndianapolis, IN 46203
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1 to 4 Bedroom Apartments
Red Maple Grove
2901 E Tabor StIndianapolis, IN 46203
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Studio to 2 Bedroom Apartments
Crossroads at Madison
4725 Madison AveIndianapolis, IN 46227
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2 Bedroom Apartments
Garfield Place
2236 Ransdell StIndianapolis, IN 46225
524 E Raymond St
IndianapolisIN46203
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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1 to 2 Bedroom Apartments
Markwood Terrace Apartments
920 E Markwood AveIndianapolis, IN 46227
2101 Ringgold Ave
IndianapolisIN46203
1322 Norton Ave
IndianapolisIN46227
1528 E Gimber St
IndianapolisIN46203
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1 to 2 Bedroom Apartments
Francis Apartments
1819 Main StBeech Grove, IN 46107
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.
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1 to 2 Bedroom Apartments
Beech Grove Place Apartments
2314 Main StBeech Grove, IN 46107
Showing Results 1-16, Page 1 of 1
University Heights, Indianapolis, IN Local Guide
Copyright CoStar Group, Inc
How much does it cost to rent an apartment in University Heights?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University Heights Studio Apartments | $985 | $905 | $1,199 |
| University Heights 1 Bedroom Apartments | $1,007 | $775 | $1,499 |
| University Heights 2 Bedroom Apartments | $1,156 | $775 | $3,277 |
| University Heights 3 Bedroom Apartments | $1,463 | $1,145 | $2,149 |
Browse Apartments in this Neighborhood
There are currently 16 rentals with your search options within a 2 mile radius of the University Heights Neighborhood of Indianapolis, IN.
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University Heights, Indianapolis, IN Local Guide
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Cheapest Available University Heights Apartments for Rent
The cheapest available apartment rental in the University Heights area of Indianapolis, IN is a 1 Bed unit found at Brookwood Apartments priced from $775. One Somerset has the second lowest priced unit, which is a 2 Beds apartment currently listed from $775. Here are the most affordable University Heights apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Brookwood Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $775 |
| One Somerset | *ACT NOW- Price Drop* One Somerset - 1 Bed/1 Ba... | 2BR,1BA | $775 |
| Spicewood | Studio | Studio,1BA | $829 |
| Sawmill Apartments | 1 Bed 1 Bath Small | 1BR,1BA | $849 |
| Capital Place | One Bedroom One Bath TH | 1BR,1BA | $884 |
Best Value Apartments for Rent in University Heights, IN
As of January 29, 2026 the best value apartment in the University Heights area is the $1.18 price per square foot 4946 Camden St Model at 4946 Camden St, Unit Big Camden in the in the Shelby Street-Epler Avenue neighborhood starting from $2,000. The second greatest value University Heights apartment is the 3 Bedroom 2 Bath Model at Brookwood Apartments starting at $1,207 with a $1.16 price per square foot in the Shelby Street-Epler Avenue neighborhood. Here is today’s list of the best values for University Heights apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 4946 Camden St, Unit Big Camden | 4946 Camden St | 3BR,2BA | $1.18 |
| Brookwood Apartments | 3 Bedroom 2 Bath | 3BR,2BA | $1.16 |
| Strawbridge Green | Redfern | 2BR,1.5BA | $1.13 |
| Sawmill Apartments | 2 Bed 1 Bath Large | 2BR,1BA | $1.05 |
| Fox Club | One Bedroom One Bath | 1BR,1BA | $1.14 |
| Capital Place | Two Bedroom One Bath | 2BR,1BA | $1.38 |
| Ninth Avenue Apartments | The Poppy | 1BR,1BA | $1.42 |
| Sherman Village | Garden Apt | 1BR,1BA | $1.28 |
| Welcome to Dawson Village – Welcome Home! | Brand New Double | 2BR,1BA | $1.43 |
| City Heights | 1A | 1BR,1BA | $1.44 |
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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
Read ArticleYour 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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How much rent can you afford?
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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Lifestyle Ratings
Our team of engineers and researchers is happy to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in areas across the United States and customized analysis for South Indianapolis, IN. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, multifamily communities for the kids, raising pets, transit options, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!
Frequently Asked Questions about Cheap University Heights Apartments
What is the price of a cheap apartment in University Heights?
The cheapest apartment in University Heights is Brookwood Apartments which is listed at $775, while the average apartment in University Heights costs $1,399.
What types of apartments are the cheapest in University Heights?
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 33 regular apartments in University Heights 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 University Heights?
Cheap apartments in University Heights have an average cost of $207 which is $1,192 cheaper than the average rent for all rentals in University Heights.
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
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.
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.
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.
Articles, How-To's, and Tips
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.