
Cheap Apartments for Rent in the Wallace Crossing Neighborhood of Indianapolis, IN from $400 (27 Rentals)
Search the lowest-cost Apartments available for rent right now in the Wallace Crossing area of Indianapolis.


25 S Emerson Ave

5334 E Washington St

The Courts Apartment Homes

Colonial Park

57-59 N Sherman Dr
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

810 N Bradley Ave

SUITES OF IRVINGTON

320 N Sherman Dr

D&T Nest

890 N Gladstone Ave

Historic Audubon Court
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.

1106 N Gale St

The Jeffersonian Apartments Of Indianapolis

Eastgate Terrace Apartments

927 N Chester Ave

1036 N Tuxedo St

896 N Gladstone Ave
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.

The Wash Apartments

835 N Gladstone Ave

833 N Gladstone Ave

Clark House Apartments

5143 Washington St

Saxony Court
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

4919 Orion Ave

Linwood Manor

216 N 6th Ave
Wallace Crossing, Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Wallace Crossing?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Wallace Crossing Studio Apartments | $1,000 | $750 | $1,250 |
| Wallace Crossing 1 Bedroom Apartments | $798 | $625 | $925 |
| Wallace Crossing 2 Bedroom Apartments | $1,092 | $919 | $1,700 |
| Wallace Crossing 3 Bedroom Apartments | $1,440 | $895 | $2,400 |
| Wallace Crossing 4 Bedroom Apartments | $1,775 | $1,775 | $1,775 |
Browse Apartments in this Neighborhood
There are currently 27 rentals with your search options within a 2 mile radius of the Wallace Crossing Neighborhood of Indianapolis, IN.
See all Apartments in IndianapolisExplore Indianapolis
Wallace Crossing, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Wallace Crossing Apartments for Rent
 The cheapest available apartment rental in the Wallace Crossing area of Indianapolis, IN is a 1 Bed unit found at The Courts Apartment Homes priced from $839. Colonial Park has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable Wallace Crossing apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Courts Apartment Homes | 1x1 Classic | 1BR,1BA | $839 |
| Colonial Park | 1 Bed, 1 bath | 1BR,1BA | $850 |
| Saxony Court | 1BD - New Floors | 1BR,1BA | $869 |
| Historic Irvington Flats | N | 1BR,1BA | $1,179 |
Best Value Apartments for Rent in Wallace Crossing, IN
As of April 27, 2026 the best value apartment in the Wallace Crossing area is the $1.04 price per square foot 7302 East Washington Street Model at 7302 East Washington Street, Unit A in the in the Southeast Indianapolis neighborhood starting from $1,250. The second greatest value Wallace Crossing apartment is the 5028 E New York St Model at 5028 E New York St, Unit 5028 starting at $1,100 with a $1.00 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Wallace Crossing apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 7302 East Washington Street, Unit A | 7302 East Washington Street | Studio ,1.5BA | $1.04 |
| 5028 E New York St, Unit 5028 | 5028 E New York St | 2BR,1BA | $1.00 |
| 3310 E 9th St, Unit 3310 E 9th | 3310 E 9th St | 3BR,2BA | $2.18 |
| Minnie Hartman | The Lillie 60% | 2BR,1BA | $1.34 |
| Historic Irvington Flats | N | 1BR,1BA | $1.75 |
| Saxony Court | 1BD - New Floors | 1BR,1BA | $1.50 |
| The Courts Apartment Homes | 1x1 Classic | 1BR,1BA | $1.53 |
| Colonial Park | 1 Bed, 1 bath | 1BR,1BA | $1.55 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon'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 ArticleThe 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 ArticleCash 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 ArticleYour 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 ArticleQuick 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.
Pet Friendly LifestyleWallace Crossing, Indianapolis, IN
Ranked #247
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Frequently Asked Questions about Cheap Wallace Crossing Apartments
What is the price of a cheap apartment in Wallace Crossing?
The cheapest apartment in Wallace Crossing is The Courts Apartment Homes which is listed at $839, while the average apartment in Wallace Crossing costs $1,775.
What types of apartments are the cheapest in Wallace Crossing?
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 2 regular apartments in Wallace Crossing that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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

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.

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.

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.

Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Written by: Wendy Melton
Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.
Articles, How-To's, and Tips

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.