Cheap Homes for Rent in Upper Canal Neighborhood of Indianapolis, IN from $500 (9 Rentals)

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

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 The Washington priced from $775. Canal Gardens has the second lowest priced unit, which is a 2 Beds apartment currently listed from $891. Here are the most affordable Upper Canal apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
The WashingtonStudioStudio,1BA$775
Canal Gardens2.1 40%2BR,1BA$891
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$900

Best Value Apartments for Rent in Upper Canal, IN

As of October 01, 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 1924 N Talbott St Model at 1924 N Talbott St, Unit 4 starting at $1,800 with a $1.16 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.
Shoemaker Buildingloft2BR,2BA$1.08
1924 N Talbott St, Unit 41924 N Talbott St3BR,2BA$1.16
Gardens of Canal CourtTwo Bedroom Two Bath (1,250 Square Feet)2BR,2BA$1.23
PavillionTwo Bedrooms, One Bathroom- Sublevel2BR,1BA$1.12
Penn Street Tower ApartmentsMaryland: Floors 10-122BR,1BA$1.51
Canal Gardens2.1 40%2BR,1BA$0.93
Colmar ApartmentsFront One Bedroom1BR,1BA$1.53
Drake Street Garden HomesTwo Bedroom2BR,1BA$1.38
Indiana Flats and Townhomes2 x 12BR,1BA$1.49
The Seminole1br1BR,1BA$1.28

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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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Frequently Asked Questions about Upper Canal

What type of rentals are currently available in Upper Canal?

There are currently 183 Apartments for Rent in Upper Canal, IN with pricing that ranges from $650 to $6,275. There are also 80 Single Family Homes for rent, Condos, and Townhome rentals currently available in Upper Canal ranging from $599 to $3,995.

What is the current price range for Rental Homes in Upper Canal?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Upper Canal ranges from $599 to $3,995 with an average monthly rent of $1,987.

How much are larger Three and Four Bedroom Rentals in Upper Canal?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Upper Canal range from $1,800 to $6,275, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,399 to $3,995. Four Bedroom Single-Family rentals are also available starting from $2,650 and Four Bedroom Apartments start at $3,496.

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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Kansas Citys Major Employers & the Best Places to Rent Near Them | A Local Expert Guide

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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.