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 Apartments for Rent in Downtown Indianapolis

2,132 Rentals
.
  2. 2 BEDS
    $563

    Line Lofts

    1145 E Washington St, Indianapolis, IN 46202
  6. Building Photo - Dunbar Court
    STUDIO
    $650+
    1 BED
    $875+

    Dunbar Court

    1022 Dr Martin Luther King St, Indianapolis, IN 46202
  30. 2 BEDS
    $891

    Canal Gardens

    1249 Dr Martin Luther King Jr St, Indianapolis, IN 46202
  31. Building Photo - The Whitaker
    1 BED
    $895+
    2 BEDS
    $995+

    The Whitaker

    1504 N Pennsylvania St, Indianapolis, IN 46202
  38. Building Photo - Monon Lofts
    Call for Rent

    Monon Lofts

    1122 E 16th St, Indianapolis, IN 46202
Showing 42 of 373 results, Page 1 of 9

Indianapolis at a Glance

Average Rent

N/A
(All bedrooms and property types)
0

School Rating

out of 10 Rating
Learn more about
Schools in Indianapolis
57

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Indianapolis
88

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in Indianapolis

Cheap Apartments in Downtown Indianapolis Neighborhood in Indianapolis, IN

When looking for cheap apartments in Downtown 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 Downtown 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 373 cheap apartments available in Downtown Indianapolis, Apartment Finder is the place to find your next rental.

Top Budget-Friendly Neighborhoods in Indianapolis

(For 1 bedroom apartments)

Getting Around Indianapolis

Transportation

81

Very Walkable

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
88

Very Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
57

Good Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

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

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.