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Apartments Under $500 in Indianapolis, IN

1 - 7 of 7 Results
21
3D Tour
$300
PER
ROOM
Eastwind Court Haven with Modern Updates & Space to Grow
Deal
3321 Eastwind Ct Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
House
In Unit Laundry
21
3D Tour
$300 - 315
PER
ROOM
Charming Indianapolis Bungalow Near Garfield Park
Deal
701 W Hanna Ave Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
House
In Unit Laundry
20
3D Tour
$310 - 435
PER
ROOM
Chic Indianapolis sanctuary with soaring ceilings and modern flair
Deal
8149 Trevellian Way Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
House
In Unit Laundry
22
3D Tour
$405
PER
ROOM
Charming Indianapolis home close to Fort Harrison State Park and trails
Deal
8027 N Richardt Ave Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
House
In Unit Laundry
25
$458
The Enclave At Meridian Apartments
3.2
3777 N Meridian St Indianapolis, IN
Studio | Available Now
Income Restricted
Fitness Center
Dishwasher
4
$300
1635 Draper St
Indianapolis, IN
Studio | Available Now
Contact
12
3D Tour
$449 - 489
Lakeside Point At Nora
9000 N College Avenue Indianapolis, IN
Studio | Available Now
Contact
Dog Friendly
Cat Friendly
Balcony/Deck/Patio
Pool
1 - 7 of 7 Results
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  3. Apartments Under $500
Frequently Asked Questions

How many apartments under $500 are available in Indianapolis, IN on Rentable.co?

There are 7 apartments under $500 in Indianapolis currently available for rent on Rentable.co.

How many studio apartments under $500 are available in Indianapolis?

Rentable.co has 71 studio apartments under $500 available for rent in Indianapolis.

How many one-bedroom apartments under $500 are available in Indianapolis?

Rentable.co has 693 one-bedroom apartments under $500 available for rent in Indianapolis.

How many two-bedroom apartments under $500 are available in Indianapolis?

Rentable.co has 547 two-bedroom apartments under $500 available for rent in Indianapolis.

Can I afford a apartment under $500 in Indianapolis, IN?

To comfortably afford a apartment under $500 in Indianapolis based on average rent prices, a household would need an annual income of $18,000.

Which neighborhoods have the most apartments under $500 for rent in Indianapolis, IN?

  1. Upper Canal
  2. Fletcher Place
  3. Downtown Indianapolis
  4. Herron Morton

Apartments Under $500 in Indianapolis, IN: September Rental Information

Welcome to the September 2026 Indianapolis Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the September 2026 key findings and figures for the Indianapolis rental landscape.

Our experts analyze the inventory trends for apartments under $500 — overall market rent-distribution, availability by bedroom count, and month-over-month comparisons — in Indianapolis and surrounding areas. This summary also provides insight into available features and amenities, as well as location options for apartments under $500 in Indianapolis.

If you're searching for an affordable apartment in Indianapolis, this report will provide you with valuable information and help you make an informed decision. Whether you're a student looking for a budget-friendly studio near a university or a young professional seeking an affordable one-bedroom in a vibrant neighborhood, the Rentable Apartment Report has got you covered. Stay tuned for the latest data and trends in the Indianapolis rental market.
0 12 25 37 50 <$700 $720 $760 $800 $840 $880 $920 $960 $1,000 $1,040 $1,080 $1,120 $1,160 $1,200 $1,240 $1,280 $1,320 $1,360 $1,400 $1,440 $1,480
This month, the typical cost to rent a one-bedroom apartment in Indianapolis stands at $1,000, with the majority falling between $680 and $1,590. Out of the 6,253 one-bedroom apartments currently on the market in Indianapolis, 5 are priced below $500, accounting for 0% of the total available one-bedroom units in Indianapolis.

Available Apartments Under $500: Indianapolis vs. Surrounding Areas

Indianapolis, IN
31
Welcome to Rentable's "Apartments Under $500 in Indianapolis, IN" page. Here, you can find a comprehensive overview of the availability and rent prices of apartments in Indianapolis, IN, and the surrounding areas. As of September 2026, the chart above displays the number of available apartments priced under $500 in Indianapolis, IN, as well as the neighboring cities of Westfield, Speedway, Whiteland, Cumberland, Avon, Danville, Plainfield, McCordsville, Meridian Hills, Brownsburg, Fishers, Carmel, Noblesville, Greenfield, Lawrence, Greenwood, Lebanon, Bargersville, Camby, Cicero, North Salem, Whitestown, Zionsville, Fortville, Ingalls, Hendricks, Beech Grove, Pittsboro, and New Palestine. In the entire Indianapolis, IN metro area, there are a total of 32 apartments currently available within this price range.

Apartments Under $500 Now vs. Last Month: Indianapolis and Surrounding Areas

City Apartments Under $500 in September M/M % Change
Indianapolis, IN 32 +1.04%
Greenwood, IN 1 +1.0%
Noblesville, IN 1 +1.14%
Plainfield, IN 1 +1.14%
Lebanon, IN 1 -1.0%
Westfield, IN 0 +1.0%
Whitestown, IN 0 +1.0%

Looking for Apartments Under $500 in Indianapolis?

Available apartments under $500 1,325
Top amenities Fitness Center, Dishwasher, In Unit Laundry, Refrigerator, Package Receiving
Deals 41
Pet friendly 40
Utilities included 13
Studio 17
1 Bedroom 37
2 Bedroom 21

Where are Indianapolis Apartments Under $500?

Top Neighborhoods Upper canal, Fletcher place, Downtown indianapolis, Herron morton
Upper Canal 5
Fletcher Place 2
Downtown Indianapolis 1
Herron Morton 1
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