Cheap Apartments for Rent in the Upper Canal Neighborhood of Indianapolis, IN from $500 (90 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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9 On Canal
Rent Specials
$1,060 - $2,865
Total Monthly Price

Total Monthly Price

Base Rent
$1,060 - $2,865
Total Monthly Price
$1,060 - $2,865
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
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Ralston Apartments
Rent Specials
$1,157 - $3,230
Total Monthly Price

Total Monthly Price

Base Rent
$1,157 - $3,230
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
Corporate Housing
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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.

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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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property at 615 N East St

$1,424 - $1,604

Total Monthly Price

Total Monthly Price

Base Rent
$1,424
Total Monthly Price
$1,424

1 Bedroom Rentals

Available Aug 9

615 N East St

IndianapolisIN46202

Cash 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.

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The Jordan
Studio to 1 Bedroom Apartments

The Jordan

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

Windsor

1235 N Delaware StIndianapolis, IN 46202
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Barbee
1 Bedroom Apartments

Barbee

1215 N Pennsylvania StIndianapolis, IN 46202
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PICCADILLY
Studio to 3 Bedroom Apartments

PICCADILLY

28 E 16th StIndianapolis, IN 46202
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The Harrison
Studio to 1 Bedroom Apartments

The Harrison

1320 N Delaware StIndianapolis, IN 46202
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The Marleigh
Studio to 1 Bedroom Apartments

The Marleigh

1434-1448 N Delaware StIndianapolis, IN 46202
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Traymore Apartments
Studio to 2 Bedroom Apartments

Traymore Apartments

1402 N Alabama StIndianapolis, IN 46202
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Capitol Manor
1 Bedroom Apartments

Capitol Manor

842 N Capitol AveIndianapolis, IN 46204
  • Utilities Included

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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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 Davlan2-12BR,1BA$846
Canal Gardens2.1 40%2BR,1BA$891
Circle CityS8 Van DykeStudio,1BA$899
Senate ManorS.1 BStudio,1BA$930
1010 CentralLoft 50%1BR,1BA$934
The Washington2 Bedroom2BR,1BA$1,025
Lockefield GardensStandard One Bedroom (SR6)1BR,1BA$1,051

Best Value Apartments for Rent in Upper Canal, IN

As of July 19, 2026 the best value apartment in the Upper Canal area is the $1.36 price per square foot 3 Bedroom 2 Bath Model at The Block in the in the Riley neighborhood starting from $2,399. The second greatest value Upper Canal apartment is the B3 Model at 946 MLK starting at $2,020 with a $1.27 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$1.36
946 MLKB33BR,2BA$1.27
Gardens of Canal CourtTwo Bedroom Two Bath (1,311 Square Feet)2BR,2BA$1.34
Maxwell ApartmentsAthens2BR,2BA$1.37
Canal Gardens2.1 40%2BR,1BA$0.93
The Davlan2-12BR,1BA$0.95
The Avenue2x22BR,2BA$1.16
Drake Street Garden HomesTwo Bedroom2BR,1BA$1.30
1733 N. Meridian1BR1BR,1BA$1.04
1010 CentralDepot 60%1BR,1BA$1.45

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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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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Quick Rent Budget Calculator

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

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 $1,051.

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 $2,399.

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 87 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 $385 which is $2,014 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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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.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

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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.

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Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

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The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

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Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.