Cheap Apartments for Rent in the Upper Canal Neighborhood of Indianapolis, IN from $400 (100 Rentals)

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

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9 On Canal
Rent Specials
$960 - $3,315
Total Monthly Price

Total Monthly Price

Base Rent
$960 - $3,315
Total Monthly Price
$960 - $3,315
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
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  • 3D Tour

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Ralston Apartments
Rent Specials
$1,170 - $3,283
Total Monthly Price

Total Monthly Price

Base Rent
$1,170 - $3,283
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
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Bon Air Residence
$1,750 - $2,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,750 - $2,250
Total Monthly Price
$1,750 - $2,250
1 Bedroom Apartments Available Now

Bon Air Residence

21-23 W 16th StIndianapolis, IN 46202
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The Jordan
Studio to 1 Bedroom Apartments

The Jordan

1445 N Delaware StIndianapolis, IN 46202
  • Utilities Included
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Windsor
Studio to 1 Bedroom Apartments

Windsor

1235 N Delaware StIndianapolis, IN 46202
  • Utilities Included

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Upper Canal, Indianapolis, IN Local Guide

Cheapest Available Upper Canal Apartments for Rent

 

The cheapest available apartment rental in the Upper Canal area of Indianapolis, IN is a Studio unit found at INDY FLATS priced from $705. 1733 N. Meridian has the second lowest priced unit, which is a 1 Bed apartment currently listed from $780. Here are the most affordable Upper Canal apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
INDY FLATSSherwood Std DStudio,1BA$705
1733 N. Meridian1BR1BR,1BA$780
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
The WashingtonStudioStudio,1BA$800
St. Agnes ApartmentsOne Bedroom- Standard 2nd-4th*1BR,1BA$825
The Davlan2-12BR,1BA$846
Indy Christian Place Apartments LLC1 Bedroom 1 Bath - 411381BR,1BA$875
Canal Gardens2.1 40%2BR,1BA$891
Senate Manor1.1 B1BR,1BA$910
Indy Downtown Colonial Apartments1 Bedroom 1 Bath - 469701BR,1BA$955

Best Value Apartments for Rent in Upper Canal, IN

As of June 03, 2026 the best value apartment in the Upper Canal area is the $1.39 price per square foot 3 Bedroom 2 Bath Model at The Block in the in the Riley neighborhood starting from $2,459. The second greatest value Upper Canal apartment is the B1 Model at 946 MLK starting at $1,900 with a $1.26 price per square foot in the Near North Indianapolis neighborhood. Here is today’s list of the best values for Upper Canal apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Block3 Bedroom 2 Bath3BR,2BA$1.39
946 MLKB13BR,2BA$1.26
Maxwell ApartmentsChicago2BR,2BA$1.43
Canal Gardens2.1 40%2BR,1BA$0.93
The Davlan2-12BR,1BA$0.95
Van DykeVan Dyke 1B 8301BR,1BA$1.55
1733 N. Meridian1BR1BR,1BA$1.04
1010 CentralBunker 60%1BR,1BA$1.53
The McKayMcKay 1B 6501BR,1BA$1.72
St. Agnes ApartmentsOne Bedroom- Standard 2nd-4th*1BR,1BA$1.38

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Your 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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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

This website compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in metropolitan areas across the United States including Upper Canal, Indianapolis, and the greater Indianapolis area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for the best proximity to parks and outdoor amenities, luxury amenities, kid and pet-friendly communities, availability of transit options, and more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Upper Canal Apartments

What is a cheap apartment in Upper Canal?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Upper Canal is under $955.

What is the price of a cheap apartment in Upper Canal?

The cheapest apartment in Upper Canal is 1733 N. Meridian which is listed at $780, while the average apartment in Upper Canal costs $2,372.

What types of apartments are the cheapest in Upper Canal?

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 67 regular apartments in Upper Canal 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 Upper Canal?

Cheap apartments in Upper Canal have an average cost of $384 which is $1,988 cheaper than the average rent for all rentals in Upper Canal.

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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