
Cheap Apartments for Rent in the 46231 ZIP Code of Indianapolis, IN from $300 (11 Rentals)
Search the lowest-cost Apartments available for rent right now in the 46231 ZIP Code area of Indianapolis.


Residences on Ronald Reagan

Elevate 311 Apartments

Central Park Apartments

Apex at Perry Crossing
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.

Hobbs Station

6740 Morgan Ave

Total Monthly Price
The Ascent Apartments of Plainfield

Double Creek Flats Apartments

Echo Park at Perry Crossing
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

Harpers Crossing
Indianapolis, IN Local Guide

How much does it cost to rent an apartment in 46231?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| 46231 Studio Apartments | $1,500 | $1,359 | $1,668 |
| 46231 1 Bedroom Apartments | $1,620 | $1,272 | $2,599 |
| 46231 2 Bedroom Apartments | $1,946 | $1,406 | $2,792 |
| 46231 3 Bedroom Apartments | $2,505 | $1,395 | $3,499 |
| 46231 4 Bedroom Apartments | $1,800 | $1,700 | $1,900 |
Browse Apartments in the 46231 Zip Code of Indianapolis
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Frequently Asked Questions about Cheap the 46231 ZIP Code Apartments
How much is rent for a Cheap One Bedroom 46231 Apartment?
The lowest price for a Cheap One Bedroom 46231 Apartment is $775 at Reserves at Warren Park.
What is the lowest price for a Cheap Two Bedroom 46231 Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in 46231 is starting from $875 at Reserves at Warren Park.
What is the most affordable 46231 Three Bedroom Apartment?
The best deal on a cheap 46231 Three Bedroom Apartment rental is at Crosswinds and starts from $1,354.
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

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.

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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.

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.

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.
Articles, How-To's, and Tips

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.