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Cheap Apartments for Rent in Indianapolis, IN

13,600 Rentals
.
  2. 3 BR Kitchen/Living Room - 632MLK
    STUDIO
    $200

    632MLK Unit 000

    632 Dr Martin Luther King Jr St, Indianapolis, IN 46202
  10. Building Photo - Charmwood Terrace
    Exceptional Value
    1 BED
    $520+
    2 BEDS
    $685+

    Charmwood Terrace

    3419 N Pennsylvania St, Indianapolis, IN 46205
  18. Building Photo - D&T Nest
    Call for Rent

    D&T Nest

    5824 E Washington St, Indianapolis, IN 46219
  29. Building Photo - Meridian Towers
    Discounts
    Discounts
    STUDIO
    $629+
    1 BED
    $739+

    Meridian Towers

    3710 N Meridian St, Indianapolis, IN 46208
  30. Building Photo - Hopeside I
    2 BEDS
    $633

    Hopeside I

    2005 E 25th St, Indianapolis, IN 46218
  39. Building Photo - Dunbar Court
    STUDIO
    $665+
    1 BED
    $875+

    Dunbar Court

    1022 Dr Martin Luther King St, Indianapolis, IN 46202
Showing 42 of 750 results, Page 1 of 18

Indianapolis at a Glance

Average Rent

$1,122
(All bedrooms and property types)
Learn more about
Average Rent in Indianapolis
8

School Rating

out of 10 Rating
Learn more about
Schools in Indianapolis

Indianapolis, IN Cheap Apartments for Rent

When looking for cheap apartments in Indianapolis, Apartment Finder is your deal-hunting partner. Whether you’re looking for a studio, a one-bedroom, or a two-bedroom apartment, you want the best place at the right price. We have a great selection of budget-friendly apartments for rent, and we’ll show you which apartments offer the best value when compared to other apartments in Indianapolis.

Finding a rental that fits your budget without compromising on quality can seem like a challenge, but Apartment Finder makes it easy to discover cheap apartments with all the features you want. To find an apartment you can afford, try looking in less popular neighborhoods outside of the city center. Timing is everything when searching for rentals that are affordable, so look at different times of the day, different days of the week and (if you can wait) certain months like December through March. When you find an apartment with a great price, don’t hesitate! Cheap apartments tend to go very quickly.

Affordability doens't have to equal sacrifice. While it’s important to be flexible, you might not have to give up as much as you think. You can find a cheap apartment for rent, complete with must-have amenities such as paid utilities and an in-unit washer and dryer. Click on any of these properties to see photos and floor plans, read reviews, check out the rent calculator, and learn more about the neighborhood with information on nearby parks, shopping malls, and transit stops. With 750 cheap apartments available in Indianapolis Apartment Finder is the place to find your next rental.

Renting in Indianapolis

Average Rental Rates and Apartment Sizes

Top Budget-Friendly Neighborhoods in Indianapolis

(For 1 bedroom apartments)

Education

Public University
Public University
Public University
Private University
Private University
GreatSchools Rating
Franklin Central High School

Public High School

Public
Grades 9-12
3,319 Students
GreatSchools Rating
Perry Meridian High School

Public High School

Public
Grades 9-12
2,350 Students
GreatSchools Rating
Herron High School

Public High School

Public
Grades 9-12
995 Students
GreatSchools Rating
North Central High School

Public High School

Public
Grades 9-12
3,628 Students
GreatSchools Rating
Ben Davis University High School

Public High School

Public
Grades 9-12
358 Students
GreatSchools Rating
Franklin Central Junior High

Public Middle School

Public
Grades 6-8
1,711 Students
GreatSchools Rating
Paramount Cottage Home

Public Elementary School

Public
Grades K-5
265 Students

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

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Indianapolis Apartments for Rent in Your Budget

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