Cheapest Neighborhoods in Indianapolis, IN
Some of the cheapest neighborhoods in Indianapolis are Eastside, Southdale, and Arlington Woods. These neighborhoods offer some of the lowest rent prices in Indianapolis, making them ideal for renters on a budget. As of June 26, 2026, the average rent in Indianapolis is $1,135, which is 0.7% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Eastside
Average Rent
$860/Month
Units Available
10 Rentals
Eastside is a top choice for budget-conscious renters for a variety of reasons. The average rent in Eastside is $860 while the city average is $1,135. This is a 0% difference from last year. Residents enjoy convenient access to IU - Indianapolis, 1505-1517 N Arlington Ave, and Indianapolis International.
Southdale
Average Rent
$891/Month
Year-Over-Year Rent Change
4.6%
Units Available
41 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out Southdale. The average rent is $891, compared to the city average of $1,135. Rent prices have decreased by 4.6%. Southdale is convenient to The Pantry of Elper, Glenns Valley Nature Park, and IU - Indianapolis.
Arlington Woods
Average Rent
$909/Month
Year-Over-Year Rent Change
0.2%
Units Available
10 Rentals
Arlington Woods is an affordable neighborhood in Indianapolis with an average rent price of $909. Compare this to the city average of $1,135. In the past year, rent prices have decreased by 0.2%. Arlington Woods provides easy access to Indianapolis International, Gene B. Glick Nature Preserve, and IU - School of Medicine.
Bates-Hendricks
Average Rent
$923/Month
Year-Over-Year Rent Change
0.1%
Units Available
22 Rentals
If you’re looking for a great, affordable neighborhood in Indianapolis, Bates-Hendricks might be the perfect place! It has an average rent price of $923, while the city’s average stands at $1,135. In the last year, prices have decreased by 0.1%. Bates-Hendricks is near Garfield Park Conservatory and Sunken Gardens, Garfield Park, and IU - Indianapolis.
Devington
Average Rent
$930/Month
Year-Over-Year Rent Change
1.4%
Units Available
27 Rentals
Devington is a top choice for budget-conscious renters for a variety of reasons. The average rent in Devington is $930 while the city average is $1,135. This is a 1.4% difference from last year. Residents enjoy convenient access to IU - School of Medicine, Washington Park, and Arlington Village.
Edgewood
Average Rent
$940/Month
Year-Over-Year Rent Change
1.3%
Units Available
33 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out Edgewood. The average rent is $940, compared to the city average of $1,135. Rent prices have increased by 1.3%. Edgewood is convenient to Bethel Park, Carson Square, and Northwest Park.
University Heights
Average Rent
$941/Month
Year-Over-Year Rent Change
2.5%
Units Available
14 Rentals
University Heights is an affordable neighborhood in Indianapolis with an average rent price of $941. Compare this to the city average of $1,135. In the past year, rent prices have increased by 2.5%. University Heights provides easy access to Bethel Park, Garfield Park Conservatory and Sunken Gardens, and South Keystone Shoppes.
Crooked Creek
Average Rent
$954/Month
Year-Over-Year Rent Change
0.1%
Units Available
108 Rentals
If you’re looking for a great, affordable neighborhood in Indianapolis, Crooked Creek might be the perfect place! It has an average rent price of $954, while the city’s average stands at $1,135. In the last year, prices have decreased by 0.1%. Crooked Creek is near Plaza 71, Northwestway Park, and Butler University.
Far Eastside
Average Rent
$973/Month
Year-Over-Year Rent Change
2.8%
Units Available
115 Rentals
Far Eastside is a top choice for budget-conscious renters for a variety of reasons. The average rent in Far Eastside is $973 while the city average is $1,135. This is a 2.8% difference from last year. Residents enjoy convenient access to Plaza Urbana, Fort Harrison State Park, and Indianapolis International.
Northwest High School
Average Rent
$981/Month
Year-Over-Year Rent Change
0.2%
Units Available
56 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out Northwest High School. The average rent is $981, compared to the city average of $1,135. Rent prices have increased by 0.2%. Northwest High School is convenient to Eagle Creek Park, IU - School of Medicine, and Northwestway Park.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.