Cheap Apartments for Rent in the Upper Canal Neighborhood of Indianapolis, IN from $500 (70 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

Read Article
close
View Me
16 Park Apartments
1 to 4 Bedroom Apartments

16 Park Apartments

1621 N Park AveIndianapolis, IN 46202
  • Utilities Included
close
View Me
Northside Flats Apartments
Studio to 2 Bedroom Apartments

Northside Flats Apartments

1503 N Pennsylvania StIndianapolis, IN 46202
  • Utilities Included
close
View Me
The Jordan
Studio to 1 Bedroom Apartments

The Jordan

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

Windsor

1235 N Delaware StIndianapolis, IN 46202
  • Utilities Included
close
View Me
Barbee
1 Bedroom Apartments

Barbee

1215 N Pennsylvania StIndianapolis, IN 46202
  • Utilities Included
close
View Me
PICCADILLY
Studio to 3 Bedroom Apartments

PICCADILLY

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

The Harrison

1320 N Delaware StIndianapolis, IN 46202
  • Utilities Included

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.

Read Article
close
View Me
The Marleigh
Studio to 1 Bedroom Apartments

The Marleigh

1434-1448 N Delaware StIndianapolis, IN 46202
  • Utilities Included
close
View Me
1733 N. Meridian
1 Bedroom Apartments

1733 N. Meridian

1733 N Meridian StIndianapolis, IN 46202
  • Utilities Included
close
View Me
Madison Apartments
1 to 2 Bedroom Apartments

Madison Apartments

226 E 12th StIndianapolis, IN 46202
  • Utilities Included
close
View Me
Capitol Manor
1 Bedroom Apartments

Capitol Manor

842 N Capitol AveIndianapolis, IN 46204
  • Utilities Included
close
View Me
Victoria Apartments
Studio Apartments

Victoria Apartments

1244 N Illinois StIndianapolis, IN 46202
  • Utilities Included
close
View Me
Canal Gardens
1 to 2 Bedroom Apartments

Canal Gardens

1249 Dr Martin Luther King Jr StIndianapolis, IN 46202
  • Utilities Included
close
View Me
The Whitaker
1 to 2 Bedroom Apartments

The Whitaker

1504 N Pennsylvania StIndianapolis, IN 46202
Affordability
  • Utilities Included
close
View Me
Chelsea Manor
1 to 2 Bedroom Apartments

Chelsea Manor

1451 Central AveIndianapolis, IN 46202
  • Utilities Included
close
View Me
Mayleeno
1 Bedroom Apartments

Mayleeno

416 E Vermont PlIndianapolis, IN 46202
  • Utilities Included
close
View Me
The Seminole
1 Bedroom Apartments

The Seminole

920 N Alabama StIndianapolis, 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.

Read Article
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 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 $785. 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 ApartmentsStudio- Large 5th*Studio,1BA$785
Madison ApartmentsOne bedroom1BR,1BA$795
Canal Gardens2.1 40%2BR,1BA$891
The WhitakerOne Bedroom1BR,1BA$895
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$899
Traymore ApartmentsOne Bedroom1BR,1BA$925
Senate ManorS.1 CStudio,1BA$930
1010 CentralLoft 50%1BR,1BA$956
Devonshire Apartments in Downtown Indianapolis1BR/1.0BA1BR,1BA$990

Best Value Apartments for Rent in Upper Canal, IN

As of January 18, 2026 the best value apartment in the Upper Canal area is the $1.19 price per square foot B1 Model at 946 MLK in the in the Near North Indianapolis neighborhood starting from $1,800. The second greatest value Upper Canal apartment is the The Riley Model at The E'Laan starting at $1,689 with a $1.41 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.
946 MLKB13BR,2BA$1.19
The E'LaanThe Riley2BR,2BA$1.41
Gardens of Canal CourtTwo Bedroom Two Bath (1,184 - 1,194 Square Feet)2BR,2BA$1.28
Shoemaker Buildingflat2BR,2BA$1.45
Indy Colonial Apartments3111BR,1BA$1.05
Canal Gardens2.1 40%2BR,1BA$0.93
PavillionTwo Bedrooms, One Bathroom2BR,1BA$1.41
Madison ApartmentsTwo bedroom2BR,1BA$1.40
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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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 $990.

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

The cheapest apartment in Upper Canal is Madison Apartments which is listed at $795, while the average apartment in Upper Canal costs $2,700.

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 85 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 $327 which is $2,373 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.

Helpful Local Expert Guides

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.

decorative image for Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters article

Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

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.

decorative image for Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods article

Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

Articles, How-To's, and Tips

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!