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North Hartman Drive & E 48th St, IN (id.1123)
(470) 391-0502
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CityView on Meridian
(937) 807-3292
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Dayton Ave & Fletcher Ave, IN (id.1125)
(470) 391-0502
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Lawrence Landing
(844) 403-0849
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North Goodlet Ave & W St Clair St, IN (id.1135)
(470) 391-0502
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Woodbrook Apartments
(855) 631-1968
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The Avenue
(463) 234-1512
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Bayview Club Apartment Homes
(574) 766-7386
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King's Reserve at College Park
(317) 751-2590
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East 21st St & N Colorado Ave, IN (id.1136)
(470) 460-6129
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Serenity at Indianapolis (55+ Senior Community)
(463) 222-0945
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Pangea Courts
(844) 763-1144
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Fountainhead Apartments
(317) 922-1778
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Lakes At Crossbridge
(463) 465-5119
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Edge 35
(217) 776-9870
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Pangea Riverside
(833) 779-0531
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Pangea Groves
(812) 609-6349
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Reserve At White River
(833) 691-1771
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Lynhurst Park Apartments
(844) 574-4783
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Canterbury House Apartments - Franklin Road
(317) 541-8144
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Nora Commons On The Monon Senior Apartments
(844) 796-4486
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Stone Lake
(833) 333-1084
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Pangea Prairies
(765) 275-9472
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Pangea Vineyards
(844) 949-3518
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Pangea Cedars
(877) 564-6570
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Teal Run
(855) 889-3758
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Harrison Place
(317) 667-1552
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Pangea Hills
(833) 685-4603
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Hanna Village Apartments
(317) 781-1266
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Meridian Towers Apartments
(812) 505-3484
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Apartments Under $1,200 in Indianapolis, IN

1 of 408 Results
8
$560 - 580
PER
ROOM
North Hartman Drive & E 48th St, IN (id.1123)
Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
Furnished
Air Conditioning
Surface Parking
Disability Access
75
$905 - 1,721
CityView on Meridian
Deal
3.4
3801 N. Meridian St Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Balcony, Deck, Patio
13
$580
PER
ROOM
Dayton Ave & Fletcher Ave, IN (id.1125)
Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
Furnished
Air Conditioning
Surface Parking
Disability Access
31
3D Tour
$998 - 1,230
Lawrence Landing
4.4
6875 Faris Avenue Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Virtual Tour
Air Conditioning
In Unit Laundry
10
$520 - 612
PER
ROOM
North Goodlet Ave & W St Clair St, IN (id.1135)
Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
Furnished
Air Conditioning
Surface Parking
Disability Access
12
$920 - 1,185
Woodbrook Apartments
4.2
5302 Woodbrook Drive Indianapolis, IN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Fitness Center
38
$845 - 965
PER
ROOM
The Avenue
4.2
930 W 10Th St Indianapolis, IN
2 - 4 BR | Available Now
Contact
Furnished
Dog Friendly
Cat Friendly
Student
In Unit Laundry
30
$1,180 - 1,555
Bayview Club Apartment Homes
Deal
7545 Bayview Club Drive Indianapolis, IN
1 BR | Jun. 8, 2023
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Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
In Unit Laundry
13
$1,075 - 1,175
King's Reserve at College Park
8810 Colby Blvd Indianapolis, IN
Studio - 1 BR | Available Now
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Dog Friendly
Cat Friendly
Senior Community
Air Conditioning
Balcony, Deck, Patio
13
$540 - 560
PER
ROOM
East 21st St & N Colorado Ave, IN (id.1136)
Indianapolis, IN
1 BR | Available Now
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Heat Included
Furnished
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38
$675 - 1,025
Serenity at Indianapolis (55+ Senior Community)
1123 North Edmondson Avenue Indianapolis, IN
Studio - 2 BR | Available Now
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Heat Included
Dog Friendly
Cat Friendly
Virtual Tour
Senior Community
13
$731 - 1,080
Pangea Courts
4417 Linwood Ct Indianapolis, IN
1 - 2 BR | Available Now
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Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
55
$740
Fountainhead Apartments
2.2
8101 Laguna Drive Indianapolis, IN
Studio | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Dishwasher
15
$673 - 772
Lakes At Crossbridge
2.8
7925 Crossbridge Dr Downtown Indianapolis, IN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Income Restricted
Air Conditioning
Fitness Center
54
$1,017 - 1,770
Edge 35
Deal
4.0
1224 Prospect St Indianapolis, IN
Studio | May. 29, 2023
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Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Storage
17
$899 - 1,482
Pangea Riverside
2638 Cold Spring Manor Dr Indianapolis, IN
2 BR | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Dishwasher
23
$719 - 1,238
Pangea Groves
5018 Lemans Dr Indianapolis, IN
Studio - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Covered Parking
Balcony, Deck, Patio
Fitness Center
9
$854 - 1,055
Reserve At White River
3.8
2774 Pixel Road Indianapolis, IN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Senior Community
Air Conditioning
Fitness Center
22
$943 - 1,177
Lynhurst Park Apartments
2.6
3215 Joey Way Indianapolis, IN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Senior Community
Income Restricted
Air Conditioning
16
$820 - 1,069
Canterbury House Apartments - Franklin Road
2.6
7955 Kingsmead Dr Indianapolis, IN
1 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Income Restricted
Air Conditioning
Surface Parking
18
$1,060
Nora Commons On The Monon Senior Apartments
8905 Evergreen Ave Indianapolis, IN
1 BR | Available Now
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Dog Friendly
Cat Friendly
Senior Community
Air Conditioning
Balcony, Deck, Patio
14
$776 - 1,384
Stone Lake
3.7
2913 E. Hanna Ave Indianapolis, IN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Fitness Center
14
$754 - 1,144
Pangea Prairies
4555 N Arlington Ave Indianapolis, IN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Covered Parking
Balcony, Deck, Patio
Fitness Center
15
$673 - 892
Pangea Vineyards
10101 E Montery RD Indianapolis, IN
Studio - 1 BR | Apr. 5, 2023
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Balcony, Deck, Patio
15
$697 - 1,219
Pangea Cedars
3417 N Rybolt Ave Indianapolis, IN
Studio - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Covered Parking
15
$949 - 999
Teal Run
4.5
2302 Windsong Drive Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Balcony, Deck, Patio
40
3D Tour
$930 - 1,345
Harrison Place
Deal
5812 Beatle Dr. Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Virtual Tour
Air Conditioning
Covered Parking
17
$778 - 1,220
Pangea Hills
5500 Pleasant Hill Circle Indianapolis, IN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Fitness Center
Dishwasher
22
$926 - 1,096
Hanna Village Apartments
2.2
4020 Hanna Village Drive Indianapolis, IN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Balcony, Deck, Patio
14
$549 - 810
Meridian Towers Apartments
Deal
3710 N Meridian St Indianapolis, IN
Studio - 1 BR | Available Now
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Heat Included
Dog Friendly
Cat Friendly
Air Conditioning
Fitness Center
1 - 30 of 408 Results
  1. Home
  2. Indianapolis
  3. Apartments Under $1,200

How much does it cost to rent an apartment in Indianapolis?

Indianapolis Apartments
Bed Type Average Rent Range
Studio $850 $550 - $1,560
1BR $970 $650 - $1,610
2BR $1,100 $730 - $1,890
3BR $1,410 $820 - $2,370
4+BR $1,530 $820 - $3,200
Frequently Asked Questions

How many apartments are available in Indianapolis, IN on Rentable.co?

Rentable.co has over 46,729 apartments available in Indianapolis.

What is the average rent for a studio apartment in Indianapolis, IN?

The average rent for a studio apartment in Indianapolis is around $850 per month.

What is the average rent for a one-bedroom apartment in Indianapolis, IN?

The average rent for a one-bedroom apartment in Indianapolis is around $970 per month.

What is the average rent for a two-bedroom apartment in Indianapolis, IN?

The average rent for a two-bedroom apartment in Indianapolis is around $1,100 per month.

How expensive is living in Indianapolis, IN?

Based on average rent prices in Indianapolis, to afford a studio apartment you would need an annual salary of $34,000 to live comfortably.

How many apartments under $1,200 are available in Indianapolis, IN on Rentable.co?

Rentable.co has 408 apartments under $1,200 available for rent in Indianapolis.

Which neighborhoods have the most apartments under $1,200 for rent in Indianapolis, IN?

  1. Old Northside
  2. Mapelton
  3. Upper Canal
  4. Downtown Indianapolis
  5. West Indianapolis

Asset 2
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Apartments by Affordability
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Indianapolis:
March Rent Report

Welcome to the March 2023 Indianapolis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the March 2023 key findings and figures for the Indianapolis rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Indianapolis and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Indianapolis average rent prices in the chart below.

Monthly Rent Report

Indianapolis Rent Prices Increase From February to March

Indianapolis rent prices increased over the last month. From February to March, the city experienced a 0.21% increase for the price of a one-bedroom apartment. The rent price for a Indianapolis one-bedroom apartments currently stands at $944.0.

When we take a look at the two-bedroom comparison from February to March, Indianapolis experienced a -1.46% decrease for the price of a two-bedroom apartment. The rent price for a Indianapolis two-bedroom apartments currently stands at $1,216.0.

March Prices: Indianapolis vs. Surrounding Areas

Rent Prices in Indianapolis and Surrounding Areas

Rent prices have increased in Indianapolis over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Indianapolis suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Greenwood, IN, Camby, IN .

  • Rent decreased in Carmel, IN, Westfield, IN, Noblesville, IN, Lawrence, IN.

  • 4 suburbs are currently priced higher than the city of Indianapolis.

  • 2 suburbs are currently priced lower than the city of Indianapolis.

March 2023 Pricing Trends: Indianapolis vs. National Comparisons

Indianapolis Rent Prices More Affordable Than Major Cities

Rent growth in Indianapolis over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Indianapolis average rent prices appear to be relatively affordable for local residents.

The price for a Indianapolis one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Indianapolis and surrounding area rent prices, take a look at the complete data set below.

Data set for Indianapolis and suburbs

1 BR March 1 BR M/M % Change 2 BR March 2 BR M/M % Change
Indianapolis, IN $942.0 -0.42% $1,234.0 -2.06%
Carmel, IN $1,431.0 -0.49% $1,635.0 -1.86%
Greenwood, IN $915.0 2.58% $1,311.0 -1.58%
Westfield, IN $1,336.0 -7.29% $1,702.0 -2.69%
Noblesville, IN $1,195.0 0.00% $1,621.0 -0.12%
Lawrence, IN $850.0 0.00% $995.0 0.00%
Camby, IN $1,101.0 1.01% $1,448.0 0.28%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.