Cheap Apartments for Rent in the Upper Canal Neighborhood of Indianapolis, IN from $500 (87 Rentals)

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

property at 146 E 19th St

146 E 19th St

IndianapolisIN46202

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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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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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 Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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16 Park Apartments
1 to 4 Bedroom Apartments

16 Park Apartments

1621 N Park AveIndianapolis, IN 46202
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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. St. Agnes Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $765. Here are the most affordable Upper Canal apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
INDY FLATSSherwood Std DStudio,1BA$705
St. Agnes Apartments514 StudioStudio,1BA$765
Canal Gardens2.1 40%2BR,1BA$891
The WhitakerOne Bedroom1BR,1BA$895
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$899
Senate ManorS.1 CStudio,1BA$930
Christian Place Apartments71BR,1BA$950
1010 CentralLoft 50%1BR,1BA$956
Lockefield GardensStandard One Bedroom (SR3)1BR,1BA$991
Circle City ApartmentsWinterhouse Studio 410Studio,1BA$995

Best Value Apartments for Rent in Upper Canal, IN

As of December 04, 2025 the best value apartment in the Upper Canal area is the $1.06 price per square foot 2 Bedroom 2 Bath Model at The Block in the in the Riley neighborhood starting from $1,899. The second greatest value Upper Canal apartment is the B3 Model at 946 MLK starting at $1,820 with a $1.14 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 Block2 Bedroom 2 Bath2BR,2BA$1.06
946 MLKB33BR,2BA$1.14
Maxwell ApartmentsLondon2BR,2BA$1.36
Shoemaker Buildingflat2BR,2BA$1.45
Gardens of Canal CourtOne Bedroom One Bath (992 Square Feet)1BR,1BA$1.37
Indy Colonial Apartments3111BR,1BA$1.05
Canal Gardens2.1 40%2BR,1BA$0.93
PavillionTwo Bedrooms, One Bathroom2BR,1BA$1.41
The Washington2 Bedroom2BR,1BA$1.47
The WhitakerOne Bedroom1BR,1BA$1.49

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.

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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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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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Pet Friendly Lifestyle
Upper Canal, Indianapolis, IN

Ranked #9

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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.

Getting Around the Upper Canal Neighborhood in Indianapolis, IN

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

94 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

57 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $995.

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

The cheapest apartment in Upper Canal is INDY FLATS which is listed at $880, while the average apartment in Upper Canal costs $2,733.

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 93 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 $368 which is $2,365 cheaper than the average rent for all rentals in Upper Canal.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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.

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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!