
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.


Elevate 311 Apartments

Central Park Apartments

Residences on Ronald Reagan

The Ascent Apartments of Plainfield
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.

Canyon Club at Perry Crossing

Double Creek Flats Apartments

Echo Park at Perry Crossing

Apex at Perry Crossing

Hobbs Station
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.

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 | $1,553 | $1,479 | $1,709 |
| 46231 1 Bedroom Apartments | $1,640 | $1,300 | $2,951 |
| 46231 2 Bedroom Apartments | $1,978 | $1,373 | $3,763 |
| 46231 3 Bedroom Apartments | $2,489 | $1,300 | $3,861 |
| 46231 4 Bedroom Apartments | $1,727 | $1,500 | $1,810 |
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 $722 at Reflections I.
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 $949 at Cumberland Manor.
What is the most affordable 46231 Three Bedroom Apartment?
The best deal on a cheap 46231 Three Bedroom Apartment rental is at Eight37 Lofts and starts from $1,291.
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

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.