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Serenity at Indianapolis (55+ Senior Community)
(463) 222-0945
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East 21st St & N Colorado Ave, IN (id.1136)
(470) 460-6129
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Dayton Ave & Fletcher Ave, IN (id.1125)
(470) 837-3335
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North Goodlet Ave & W St Clair St, IN (id.1135)
(470) 391-0502
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North Hartman Drive & E 48th St, IN (id.1123)
(470) 391-0502
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Marten Court Apartments
(463) 300-6563
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Pangea Fields
(877) 564-6980
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Stone Lake
(833) 333-1084
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Pangea Vineyards
(844) 949-3518
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Pangea Cedars
(877) 564-6570
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Pangea Prairies
(765) 275-9472
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Covington Square Apartments
(317) 247-7330
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Pangea Hills
(833) 685-4603
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Meridian Towers Apartments
(812) 505-3484
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Arlington Village
(844) 700-8086
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Canterbury House - Indianapolis Franklin Road (Phase II)
(317) 541-8144
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The Enclave At Meridian Apartments
(574) 475-7311
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34 North Apartments
(317) 939-4264
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Fountainhead Apartments
(317) 922-1778
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Pangea Groves
(812) 609-6349
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Pangea Courts
(844) 763-1144
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Canterbury House Apartments - Franklin Road
(317) 541-8144
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Lakes At Crossbridge
(463) 465-5119
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Capital Place Apartments
(317) 784-2595
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The Woods At Oak Crossing
(317) 924-1211
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Indy Town Apartments
(317) 353-0300
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Indy Flats
(317) 653-3340
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1414 W 32Nd St
(317) 518-0842
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Lakeside Point At Nora
(317) 844-9991
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Lake Castleton
(855) 904-4492
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Cheap Apartments in Indianapolis, IN

1 of 185 Results
38
$675 - 800
Serenity at Indianapolis (55+ Senior Community)
1123 North Edmondson Avenue Indianapolis, IN
Studio - 1 BR | Available Now
Contact
Heat Included
Dog Friendly
Cat Friendly
Virtual Tour
Senior Community
13
$540 - 560
PER
ROOM
East 21st St & N Colorado Ave, IN (id.1136)
Indianapolis, IN
1 BR | Available Now
Contact
Heat Included
Furnished
Air Conditioning
Surface Parking
Disability Access
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
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
8
$560 - 580
PER
ROOM
North Hartman Drive & E 48th St, IN (id.1123)
Indianapolis, IN
1 BR | Available Now
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Heat Included
Furnished
Air Conditioning
Surface Parking
Disability Access
42
$550 - 775
Marten Court Apartments
3.4
7852 Marten Ct Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
Balcony, Deck, Patio
16
$745 - 1,048
Pangea Fields
3215 N Alton Ave Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Dishwasher
14
$776 - 1,096
Stone Lake
3.7
2913 E. Hanna Ave Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Fitness Center
15
$673 - 1,007
Pangea Vineyards
10101 E Montery RD Indianapolis, IN
Studio - 1 BR | Mar. 30, 2023
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Balcony, Deck, Patio
15
$624 - 1,017
Pangea Cedars
3417 N Rybolt Ave Indianapolis, IN
Studio - 1 BR | Available Now
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Dog Friendly
Cat Friendly
Covered Parking
14
$727 - 945
Pangea Prairies
4555 N Arlington Ave Indianapolis, IN
1 BR | Available Now
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Dog Friendly
Cat Friendly
Covered Parking
Balcony, Deck, Patio
Fitness Center
12
$549 - 749
Covington Square Apartments
Deal
115 S. High School Rd. Indianapolis, IN
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
Balcony, Deck, Patio
Dishwasher
17
$767 - 1,050
Pangea Hills
5500 Pleasant Hill Circle Indianapolis, IN
1 BR | Available Now
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Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Fitness Center
Dishwasher
14
$519 - 810
Meridian Towers Apartments
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
22
$795
Arlington Village
Deal
6035 Williamsburg Ct Indianapolis, IN
1 BR | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
9
$820
Canterbury House - Indianapolis Franklin Road (Phase II)
2.6
7955 Kingsmead Dr Indianapolis, IN
1 BR | Available Now
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Air Conditioning
Balcony, Deck, Patio
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Dishwasher
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25
$458 - 699
The Enclave At Meridian Apartments
3.2
3777 N Meridian St Indianapolis, IN
Studio - 1 BR | Available Now
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Income Restricted
Fitness Center
Dishwasher
28
$767 - 799
34 North Apartments
3402 N Meridian St Indianapolis, IN
Studio - 1 BR | Available Now
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Income Restricted
Air Conditioning
Fitness Center
Storage
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
23
$719 - 959
Pangea Groves
5018 Lemans Dr Indianapolis, IN
Studio | Apr. 4, 2023
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Dog Friendly
Cat Friendly
Covered Parking
Balcony, Deck, Patio
Fitness Center
13
$690 - 1,004
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
16
$820
Canterbury House Apartments - Franklin Road
2.6
7955 Kingsmead Dr Indianapolis, IN
1 BR | Available Now
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Dog Friendly
Cat Friendly
Income Restricted
Air Conditioning
Surface Parking
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
2
$540 - 799
Capital Place Apartments
4100 Continental Ct Indianapolis, IN
1 - 3 BR | Available Now
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Dog Friendly
Cat Friendly
In Unit Laundry
Balcony, Deck, Patio
Storage
2
3D Tour
$544 - 804
The Woods At Oak Crossing
Deal
2.0
3120 Nobscot Dr Indianapolis, IN
1 - 3 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Virtual Tour
Air Conditioning
Covered Parking
20
$656 - 3,366
Indy Town Apartments
Deal
1.4
6046 E 21St Street, Suite 1B Management Office Indianapolis, IN
1 - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Air Conditioning
Surface Parking
Fitness Center
25
$549 - 799
Indy Flats
2.0
1304 N. Delaware Street Indianapolis, IN
Studio - 2 BR | Ask for Availability
Contact
Dog Friendly
Cat Friendly
Income Restricted
Section 8
Fitness Center
6
$650
1414 W 32Nd St
Indianapolis, IN
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Dishwasher
12
3D Tour
$449 - 819
Lakeside Point At Nora
Deal
9000 N College Avenue Indianapolis, IN
Studio - 2 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Balcony, Deck, Patio
Pool
49
$750 - 775
Lake Castleton
3.6
7601 Carlton Arms Dr Indianapolis, IN
Studio | Available Now
Contact
Dog Friendly
Cat Friendly
Covered Parking
Balcony, Deck, Patio
Fitness Center
1 - 30 of 185 Results
  1. Home
  2. Indianapolis
  3. Cheap Apartments

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

Indianapolis Apartments
Bed Type Average Rent Range
Studio $840 $520 - $1,520
1BR $980 $650 - $1,630
2BR $1,100 $730 - $1,910
3BR $1,400 $820 - $2,280
4+BR $1,550 $830 - $3,200
Frequently Asked Questions

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

Rentable.co has over 46,627 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 $840 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 $980 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 cheap apartments are available in Indianapolis, IN on Rentable.co?

Rentable.co has 185 cheap apartments available for rent in Indianapolis.

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

The average rent for a cheap apartment in Indianapolis is around $200 per month.

Which neighborhoods have the most cheap apartments for rent in Indianapolis, IN?

  1. Upper Canal
  2. Downtown Indianapolis
  3. Woodruff Place
  4. St Joseph
  5. Fletcher Place

Asset 2
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2 Bedroom Apartments
3 Bedroom Apartments
4 Bedroom Apartments
Studio Apartments
Apartments by Affordability
Cheap Apartments
Apartments Under $500
Apartments Under $600
Apartments Under $700
Apartments Under $800
Apartments Under $900
Apartments Under $1,000
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Apartments with Amenities
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Condos For Rent

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.