Cheap Apartments for Rent in the University Heights Neighborhood of Indianapolis, IN from $495 (64 Rentals)

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Search the lowest-cost Apartments available for rent right now in the University Heights area of Indianapolis.

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One Somerset
$875 - $1,025

Total Monthly Price

Base Rent$875 - $1,025
Total Monthly PriceVaries
1 to 2 Bedroom Apartments Available Now

One Somerset

3761 S State AveIndianapolis, IN 46227
Affordability
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property at 2229 Union St
$1,090

Total Monthly Price

Base Rent$1,090
Total Monthly Price$1,090
3 Bedroom, 1 Bath Home for Rent
Available Now
Cost Per Sq.Ft.

2229 Union St

IndianapolisIN46225
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property at 2231 Union St
$1,200

Total Monthly Price

Base Rent$1,200
Total Monthly Price$1,200
3 Bedroom, 1 Bath Home for Rent
Available Now
Cost Per Sq.Ft.

2231 Union St

IndianapolisIN46225
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Red Maple Grove
1 to 4 Bedroom Apartments

Red Maple Grove

2901 E Tabor StIndianapolis, IN 46203

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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Garfield Place
2 Bedroom Apartments

Garfield Place

2236 Ransdell StIndianapolis, IN 46225
  • Utilities Included
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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227
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Spicewood
Studio to 2 Bedroom Apartments

Spicewood

354 Spicewood DrIndianapolis, IN 46227
Senior Living
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Ninth Avenue Apartments
Studio to 3 Bedroom Apartments

Ninth Avenue Apartments

4651 Mimi DrIndianapolis, IN 46237
Corporate Housing

University Heights - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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CrossRoads @ Southgreen
1 to 2 Bedroom Apartments

CrossRoads @ Southgreen

5030 Southgreen DrIndianapolis, IN 46227
  • Utilities Included
property at 72 Schiller St
$1,100
2 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

72 Schiller St

IndianapolisIN46225

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University Heights, Indianapolis, IN Local Guide

Cheapest Available University Heights Apartments for Rent

 

The cheapest available apartment rental in the University Heights area of Indianapolis, IN is a 3 Beds unit found at Garfield Parkside Townhomes priced from $708. Cherry Glen has the second lowest priced unit, which is a Studio apartment currently listed from $799. Here are the most affordable University Heights apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Garfield Parkside Townhomes3BR3BR,2BA$708
Cherry GlenStudioStudio,1BA$799
Brookwood Apartments1 Bedroom 1 Bathroom1BR,1BA$810
SpicewoodStudioStudio,1BA$819
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$849
Capital PlaceTwo Bedroom One Bath2BR,1BA$849
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$850
Pine Glen1x1 Classic WL1BR,1BA$870
One SomersetOne Somerset - 1 Bed/1 Bath. Act Now! Get a $30...1BR,1BA$875

Best Value Apartments for Rent in University Heights, IN

As of September 13, 2026 the best value apartment in the University Heights area is the $0.56 price per square foot 3BR Model at Garfield Parkside Townhomes in the in the Concord neighborhood starting from $708. The second greatest value University Heights apartment is the 3 Bedroom 1.5 Bath Model at Brookwood Apartments starting at $1,322 with a $1.34 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Garfield Parkside Townhomes3BR3BR,2BA$0.56
Brookwood Apartments3 Bedroom 1.5 Bath3BR,1.5BA$1.34
CrossRoads @ Madison ParkCrossRoads @ Madison Park - 012BR,1BA$1.10
Capital PlaceTwo Bedroom One Bath w/Den2BR,1BA$1.28
701 E Perry St, Unit 701 E. Perry Street701 E Perry St2BR,1BA$1.06
755 E Perry St, Unit 755 E. Perry Street755 E Perry St2BR,1BA$1.06
CrossRoads @ SouthgreenCrossRoads @ Southgreen - 615-1...2BR,1BA$1.20
Strawbridge GreenThompson2BR,1BA$1.27
Sherman VillageGarden Apt1BR,1BA$1.28
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$1.31

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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 Cheapest Studio apartment in University Heights?

Currently the most affordable Cheap Studio Apartment in University Heights is at Cherry Glen listed at $799.

How much is rent for a Cheap One Bedroom University Heights Apartment?

The lowest price for a Cheap One Bedroom University Heights Apartment is $810 at Brookwood Apartments.

What is the lowest price for a Cheap Two Bedroom University Heights Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in University Heights is starting from $849 at Capital Place.

What is the most affordable University Heights Three Bedroom Apartment?

The best deal on a cheap University Heights Three Bedroom Apartment rental is at Garfield Parkside Townhomes and starts from $708.

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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