Cheap Apartments for Rent in Lawrence, IN from $400 (90 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lawrence.

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.

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M Club Apartments
Rent Specials
$805 - $1,746
Total Monthly Price

Total Monthly Price

Base Rent
$805 - $1,746
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

M Club Apartments

7007 Courthouse DrIndianapolis, IN 46226
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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.

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Lake Castleton Apartments
Rent Specials
$980 - $1,654
Total Monthly Price

Total Monthly Price

Base Rent
$980 - $1,654
Total Monthly Price
$980 - $1,654
Studio to 2 Bedroom Apartments Available Now

Lake Castleton Apartments

7601 Carlton Arms DrIndianapolis, IN 46256
Affordability
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  • Customer Reviewed
  • 3D Tour

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.

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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.

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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.

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Lawrence, IN Local Guide

Cheapest Available Lawrence Apartments for Rent

 

The cheapest available apartment rental in Lawrence, IN is a Studio unit found at Spanish Oaks in the Southeast Indianapolis neighborhood priced from $725. Franklin Studios in the Far Eastside neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here is today’s list of the most affordable Lawrence apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Spanish OaksStudioStudio,1BA$725
Franklin StudiosStudioStudio,1BA$725
Peppermill Farms1BR1BR,1BA$735
Autumn Trails ApartmentsThe MapleStudio,1BA$749
Maison Gardens Apartments1BD R1BR,1BA$785
Kingston Square ApartmentsThe AshStudio,1BA$799
The Vineyards Apartment HomesStudio ClassicStudio,1BA$819
Postbrook East Apartments1bd F1BR,1BA$820
M Club ApartmentsB12BR,1BA$825
The Life at Harrison Trails1 BED 1 BATH A (LOFT)1BR,1BA$842

Best Value Apartments for Rent in Lawrence, IN

As of April 30, 2026 the best value apartment in the Lawrence area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Lawrence apartment is the 3 bd F Remod Model at Postbrook East Apartments starting at $1,180 with a $1.07 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Lawrence apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$1.07
Postbrook East Apartments3 bd F Remod3BR,1BA$1.07
Brookhaven Apartments1 Bed 1 Bath1BR,1BA$0.91
Apartments @ Marten Court2x1 with washer/dryer2BR,1BA$1.23
Park Forest Apartments2BR/1BA2BR,1BA$1.27
Peppermill Farms2BR2BR,1BA$1.26
Frederick SquareFrederick Square 2 bedroom2BR,1BA$1.02
Maison Gardens Apartments2 BD Partial R2BR,1BA$1.10
Lawrence LandingOne Bedroom1BR,1BA$1.12
Castleton Manor ApartmentsThe Banyan1BR,1.5BA$1.25

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.

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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.

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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.

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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.

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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

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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.

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Explore Lawrence, IN Rentals by Map

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Frequently Asked Questions about Cheap Lawrence Apartments

What is the Cheapest Studio apartment in Lawrence?

Currently the most affordable Cheap Studio Apartment in Lawrence is at Spanish Oaks listed at $725.

How much is rent for a Cheap One Bedroom Lawrence Apartment?

The lowest price for a Cheap One Bedroom Lawrence Apartment is $640 at Maison Gardens Apartments.

What is the lowest price for a Cheap Two Bedroom Lawrence Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lawrence is starting from $780 at Maison Gardens Apartments.

What is the most affordable Lawrence Three Bedroom Apartment?

The best deal on a cheap Lawrence Three Bedroom Apartment rental is at Maison Gardens Apartments and starts from $870.

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

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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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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.

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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.

decorative image for Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home article

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

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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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

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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.

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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.