Cheapest Neighborhoods in Indianapolis, IN
Some of the cheapest neighborhoods in Indianapolis are Forest Manor, Arthur Browns Arlington Manor, and Eastside. These neighborhoods offer some of the lowest rent prices in Indianapolis, making them ideal for renters on a budget. As of August 10, 2026, the average rent in Indianapolis is $1,124, which is 0.6% 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.
Forest Manor
Average Rent
$755/Month
Year-Over-Year Rent Change
0.5%
Units Available
10 Rentals
Forest Manor is a top choice for budget-conscious renters for a variety of reasons. The average rent in Forest Manor is $755 while the city average is $1,124. This is a 0.5% difference from last year. Residents enjoy convenient access to 5049-5065 E 38th St, JTV Hill Park, and The Right Touch.
Arthur Browns Arlington Manor
Average Rent
$757/Month
Units Available
10 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out Arthur Browns Arlington Manor. The average rent is $757, compared to the city average of $1,124. Arthur Browns Arlington Manor is convenient to Butler University, 5442 E 21st St, and Ellenberger Park.
Eastside
Average Rent
$867/Month
Year-Over-Year Rent Change
2.8%
Units Available
14 Rentals
Eastside is an affordable neighborhood in Indianapolis with an average rent price of $867. Compare this to the city average of $1,124. In the past year, rent prices have decreased by 2.8%. Eastside provides easy access to Windsor Village, Washington Park, and Butler University.
Bates-Hendricks
Average Rent
$878/Month
Year-Over-Year Rent Change
0.2%
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 $878, while the city’s average stands at $1,124. In the last year, prices have increased by 0.2%. Bates-Hendricks is near 411 Virginia Ave, 1650-1668 E Raymond St, and 2245 S Shelby St.
Washington Meadows
Average Rent
$880/Month
Units Available
10 Rentals
Washington Meadows is a top choice for budget-conscious renters for a variety of reasons. The average rent in Washington Meadows is $880 while the city average is $1,124. Residents enjoy convenient access to 10205 E Washington St, Ivy Tech Community College, and Indianapolis International.
New Augusta
Average Rent
$886/Month
Units Available
12 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out New Augusta. The average rent is $886, compared to the city average of $1,124. New Augusta is convenient to Kroger Plaza, Crooked Creek Shoppes, and Butler University.
Country Air Estates
Average Rent
$891/Month
Units Available
18 Rentals
Country Air Estates is an affordable neighborhood in Indianapolis with an average rent price of $891. Compare this to the city average of $1,124. Country Air Estates provides easy access to Nina Mason Pulliam EcoLab, IU - School of Medicine, and Earth Discovery Center.
Arlington Woods
Average Rent
$894/Month
Year-Over-Year Rent Change
1.2%
Units Available
10 Rentals
If you’re looking for a great, affordable neighborhood in Indianapolis, Arlington Woods might be the perfect place! It has an average rent price of $894, while the city’s average stands at $1,124. In the last year, prices have increased by 1.2%. Arlington Woods is near Indianapolis International, Ellenberger Park, and IU - Indianapolis.
Boulevard Park
Average Rent
$895/Month
Units Available
20 Rentals
Boulevard Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Boulevard Park is $895 while the city average is $1,124. Residents enjoy convenient access to Washington Park, Fall Creek Retail, and 22nd Street Shops.
Augusta Green
Average Rent
$898/Month
Units Available
13 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out Augusta Green. The average rent is $898, compared to the city average of $1,124. Augusta Green is convenient to Northwestway Park, 7480 Michigan Rd, and Town Run Trail 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.