Cheap Apartments for Rent in the Upper Canal Neighborhood of Indianapolis, IN from $500 (95 Rentals)

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

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.

Read Article

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.

Read Article

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 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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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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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 2 Beds unit found at Canal Gardens priced from $891. Senate Manor has the second lowest priced unit, which is a Studio apartment currently listed from $930. Here are the most affordable Upper Canal apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Canal Gardens2.1 40%2BR,1BA$891
Senate ManorS.1 CStudio,1BA$930
1010 CentralDepot 50%1BR,1BA$956
Maxwell ApartmentsMilanStudio,1BA$970
Circle City ApartmentsWinterhouse Studio 402Studio,1BA$970
Devonshire Apartments in Downtown Indianapolis1BR/1.0BA1BR,1BA$990
Lockefield GardensStandard One Bedroom (SR3)1BR,1BA$991
The WhitakerTwo Bedrooms, One Bathroom2BR,1BA$995
Maryden on CentralThe Escape at MarydenStudio,1BA$1,005
Indy Colonial ApartmentsOne Bedroom1BR,1BA$1,025

Best Value Apartments for Rent in Upper Canal, IN

As of October 10, 2025 the best value apartment in the Upper Canal area is the $1.00 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,800. The second greatest value Upper Canal apartment is the 2 Bedroom 2 Bath Model at The Block starting at $1,829 with a $1.02 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$1.00
The Block2 Bedroom 2 Bath2BR,2BA$1.02
1924 N Talbott St, Unit Unit 41924 N Talbott St3BR,2BA$1.16
PavillionTwo Bedrooms, One Bathroom- Sublevel2BR,1BA$1.12
Indy Colonial ApartmentsOne Bedroom1BR,1BA$1.05
Canal Gardens2.1 40%2BR,1BA$0.93
Colmar ApartmentsFront One Bedroom1BR,1BA$1.53
Van DykeVan Dyke 1B 8301BR,1BA$1.55
The WhitakerTwo Bedrooms, One Bathroom2BR,1BA$1.33
Indiana Flats and Townhomes2 x 12BR,1BA$1.49

Quick Rent Budget Calculator

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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 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 the Cheapest Studio apartment in Upper Canal?

Currently the most affordable Cheap Studio Apartment in Upper Canal is at Senate Manor listed at $930.

How much is rent for a Cheap One Bedroom Upper Canal Apartment?

The lowest price for a Cheap One Bedroom Upper Canal Apartment is $956 at 1010 Central.

What is the lowest price for a Cheap Two Bedroom Upper Canal Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Upper Canal is starting from $891 at Canal Gardens.

What is the most affordable Upper Canal Three Bedroom Apartment?

The best deal on a cheap Upper Canal Three Bedroom Apartment rental is at 9 On Canal and starts from $3,000.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis article

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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.