Cheap Apartments for Rent in the Upper Canal Neighborhood of Indianapolis, IN from $500 (83 Rentals)

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

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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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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Rent Specials
from $1,2501 Bedroom Apartments Available Now

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1040 N Delaware StIndianapolis, IN 46202
Pet Friendly
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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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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16 Park Apartments
1 to 4 Bedroom Apartments

16 Park Apartments

1621 N Park AveIndianapolis, IN 46202
  • Utilities Included

Upper Canal - 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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Rotherwood
Studio to 2 Bedroom Apartments

Rotherwood

1503 N Pennsylvania 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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Showing Results 1-50, Page 1 of 2

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 1 Bed unit found at The Seminole priced from $833. The Whitaker has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. Here are the most affordable Upper Canal apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The Seminole1br1BR,1BA$833
The WhitakerOne Bedroom1BR,1BA$845
The WashingtonOne Bedroom - Sublevel1BR,1BA$850
Lockefield GardensStandard One Bedroom (SR3)1BR,1BA$991
Indy Colonial Apartments1 Bed, 1 bath1BR,1BA$1,000
Senate Manor1.1 Ap1BR,1BA$1,005
Artistry IndyJacquelineStudio,1BA$1,032
Circle City ApartmentsSpink 1B 7051BR,1BA$1,075
SpinkSpink 1B 7051BR,1BA$1,075
Ralston ApartmentsMagnolia1BR,1BA$1,080

Best Value Apartments for Rent in Upper Canal, IN

As of June 21, 2025 the best value apartment in the Upper Canal area is the $1.08 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,950. The second greatest value Upper Canal apartment is the 1 Bedroom 1 Bath Model at The Block starting at $1,549 with a $1.06 price per square foot in the Riley 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.
Shoemaker Buildingloft2BR,2BA$1.08
The Block1 Bedroom 1 Bath1BR,1BA$1.06
RaleighRaleigh 1BTH 8861BR,2BA$1.42
Van DykeVan Dyke 1BTH 8821BR,1BA$1.34
The Seminole1br1BR,1BA$1.13
Illinois Street Senior Apartments1BR 1A 60%1BR,1BA$1.68
1010 CentralGarage 60%1BR,1BA$1.70
The WhitakerOne Bedroom1BR,1BA$1.41
The WashingtonOne Bedroom - Sublevel1BR,1BA$1.42
Madison ApartmentsOne bedroom1BR,1BA$1.68

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 #8

Among neighborhoods in Indianapolis, IN 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 $1,080.

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

The cheapest apartment in Upper Canal is The Seminole which is listed at $833, while the average apartment in Upper Canal costs $2,543.

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 15 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 $659 which is $1,884 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.