Note: Properties with the Total Monthly Price badge include all required fees. Tap the badge for more details.
-

Bedrooms

Bathrooms

Deals & Discount Filters
All Filters

Deals & Discounts

Price Range

–

Beds & Baths

Beds

Baths

Home Type

Pet Policy

Interior & Community Amenities

Speciality Housing

Keyword Search

Cheap Townhomes for Rent in Indianapolis, IN

170 Rentals
.
  13. 2 BEDS, 1 BATH
    $1,000

    1914 Gala Ct

    1914 Gala Ct, Indianapolis, IN 46203
  16. Building Photo - 3450 Graceland Ave
    3 BEDS, 1 BATH
    $1,075
    Total Monthly Price Total Monthly Price New
    Base Rent$1,075
    Required Monthly FeesNone
    Total Monthly Price$1,075

    3450 Graceland Ave

    3450 Graceland Ave, Indianapolis, IN 46208
  28. Building Photo - 5161 Caroline Ave
    2 BEDS, 1 BATH
    $1,200
    Total Monthly Price Total Monthly Price New
    Base Rent$1,200
    Required Monthly FeesNone
    Total Monthly Price$1,200

    5161 Caroline Ave

    5161 Caroline Ave, Indianapolis, IN 46205
    Apply
  30. Building Photo - 783 Woodruff Pl E Dr
    1 BED, 1 BATH
    $1,250
    Total Monthly Price Total Monthly Price New
    Base Rent$1,250
    Required Monthly FeesNone
    Total Monthly Price$1,250

    783 Woodruff Pl E Dr Unit 783

    783 Woodruff Pl E Dr, Indianapolis, IN 46201
    Apply
  33. Building Photo - 1514 Ringgold Ave
    3 BEDS, 1 BATH
    $1,295
    Total Monthly Price Total Monthly Price New
    Base Rent$1,295
    Required Monthly FeesNone
    Total Monthly Price$1,295

    1514 Ringgold Ave

    1514 Ringgold Ave, Indianapolis, IN 46203
  36. Building Photo - 1202 Hoefgen St
    2 BEDS, 1 BATH
    $1,300
    Total Monthly Price Total Monthly Price New
    Base Rent$1,300
    Required Monthly FeesNone
    Total Monthly Price$1,300

    1202 Hoefgen St Unit 1202

    1202 Hoefgen St, Indianapolis, IN 46203
    Apply
  38. Building Photo - 230 E 9th St
    1 BED, 1 BATH
    $1,300

    230 E 9th St

    230 E 9th St, Indianapolis, IN 46204
Showing 42 of 106 results, Page 1 of 3

Indianapolis at a Glance

Average Rent

$1,121
(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 Townhouses for Rent

Find cheap townhomes for rent in Indianapolis with Apartment Finder. Whether you're looking for a two-bedroom townhome or something more spacious with three-four beds, you want the best place at the right price. We have a great selection of budget-friendly townhomes for rent, and we'll show you which rentals offer the best value in Indianapolis.

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

Affordability doesn't have to equal sacrifice. While being flexible is important, you might not have to give up as much as you think. You can find a cheap townhouse for rent, complete with must-have amenities such as paid utilities and a garage. 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 106 cheap townhomes 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
Herron High School

Public High School

Public
Grades 9-12
Students
GreatSchools Rating
Franklin Central High School

Public High School

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

Public High School

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

Public High School

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

Public High School

Public
Grades 9-12
Students
GreatSchools Rating
Herron Preparatory Academy

Public Elementary School

Public
Grades K-5
Students

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

Apartments for Rent Near Indianapolis by Neighborhoods

Apartments for Rent Near Indianapolis

Indianapolis Apartments for Rent in Your Budget

tooltips

I would like to...
0 out of 400 characters
By clicking above, you agree we may pass along your info so this property or the property’s affiliates can email, call, text, or autodial you to follow up and for any purpose. You also agree to... By clicking above, you agree we may pass along your info so this property or the property’s affiliates can email, call, text, or autodial you to follow up and for any purpose. You also agree to Apartmentfinder.com’s Privacy Statement and Terms of Service. Consent is not a condition for services. Message and data rates may apply. Read More Read Less

Submitting Request

Thank You

Your email has been sent.

Learn about our ratings.