Great deal
Apartment · Indianapolis
$800/mo
3.8(93)Studio|1 ba
Olivewood Apartments
2069 Olivewood Drive, Indianapolis, IN
Verified active·Recently listedView details
Apartments for Rent in Indianapolis, IN
Rents in Indianapolis, IN start at $800/mo on Budget Leases, and the average across the 159 listings we track runs $1,107/mo. That puts Indianapolis roughly 5% below the IN state average of $1,171/mo, so it's one of the more affordable markets in the state. By size, expect one-bedrooms around $1,063/mo and two-bedrooms around $1,249/mo. Listings are ranked cheapest-first and updated regularly.
Updated Jun 9, 2026
Cheapest
$800
lowest listed rent
Average rent
$1,1075% below IN
across all sizes
Average by sizevs IN typical
Studio$1,109~ IN avg
1 bed$1,0635% below IN
2 bed$1,2493% below IN
3 bed$1,5535% below IN
Renter guide
How to find the cheapest place to rent in Indianapolis
159 rentals in Indianapolis, IN
Every size & style, ranked by price
Great deal
Apartment · Indianapolis
$806/mo
3.9(140)1 bd|1 ba|555 ft²
Carlyle Court Apartments
951 Carlyle Lane, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$809/mo
2.9(133)Studio|1 ba
South & Madison Apartments
South & Madison Apartments, Indianapolis
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Great deal
Apartment · Indianapolis
$819/mo
4.2(167)Studio|1 ba
Cherry Glen Apartments
2760 Cherry Glen Way, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$830/mo
3.3(52)1 bd|1 ba
Madison Lofts
Madison Lofts, Indianapolis
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Great deal
Apartment · Indianapolis
$832/mo
2.9(224)1 bd|1 ba|632 ft²
The Life At Wood Springs Apartments
6495 Piping Rock Lane, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$839/mo
3.4(253)1 bd|1 ba
Serenity Park
Serenity Park, Indianapolis
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Apartment · Indianapolis
$840/mo
3.7(137)Studio|1 ba|419 ft²
5700 Madison
5700 Madison, Indianapolis
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Great deal
Apartment · Indianapolis
$842/mo
3.3(276)1 bd|1 ba|670 ft²
The Life At Harrison Trails Apartments
5350 Cider Mill Ln, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$845/mo
3.6(236)1 bd|1 ba|650 ft²
Woodhaven Park Apartments
6363 Commons Drive, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$849/mo
4.4(58)1 bd|1 ba|704 ft²
Covered Bridge Apartments
4909 Covered Bridge Rd., Indianapolis, IN
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Great deal
Apartment · Indianapolis
$849/mo
2.6(58)1 bd|1 ba|650 ft²
Sawmill Apartments
3708 Lickridge Lane N. Drive,, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$849/mo
1.0(1)1 bd|1 ba|695 ft²
The Life At White Pines Apartments
3287 Tara Court E., Indianapolis, IN
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Apartment · Indianapolis
$849/mo
3.1(474)Studio|1 ba|441 ft²
The Hub At Nora Apartments
9000 N. College Ave, Indianapolis, IN
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Apartment · Indianapolis
$850/mo
5.0(1)Studio|1 ba|400 ft²
Parc Bordeaux Apartments
3410 Rue Chanel, Indianapolis, IN
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Great deal
Townhome · Indianapolis
$850/mo
2.8(155)1 bd|1 ba|800 ft²
Knoll Ridge Townhomes
11415 Knollridge Ln, Indianapolis, IN
Verified active·Recently listedView details
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Great deal
Apartment · Indianapolis
$850/mo
4.0(93)1 bd|1 ba|740 ft²
The Sterling Apartments
8020 Madison Avenue, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$856/mo
3.1(87)1 bd|1 ba|700 ft²
Lake Camelot Apartments
6475 Excalibur Ct, Indianapolis, IN
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Apartment · Indianapolis
$859/mo
4.2(33)Studio|1 ba
Stonehenge Apartments
7980 Dunston Drive, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$860/mo
5.0(1)1 bd|1 ba|560 ft²
Meadows Apartments
Meadows Apartments, Indianapolis
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Great deal
Apartment · Indianapolis
$865/mo
3.4(228)1 bd|1 ba|650 ft²
Estates At Crystal Bay Apartments
7136 Crystal Bay Drive E, Indianapolis, IN
Verified active·Recently listedView details
Apartment · Indianapolis
$865/mo
3.9(53)Studio|1 ba
Sherbrook Apartments
8026 McFarland Court, Indianapolis, IN
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Great deal
Apartment · Indianapolis
$868/mo
3.9(261)1 bd|1 ba|612 ft²
Emerson Village Apartments
Emerson Village Apartments, Indianapolis
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Great deal
Apartment · Indianapolis
$870/mo
3.0(268)1 bd|1 ba|670 ft²
Astoria Park Apartment Homes
3640 Beluga Ln, Indianapolis, IN
Verified active·Recently listedView details
Renting in Indianapolis, IN: common questions
- How much is rent in Indianapolis, IN?
- The average asking rent across the 159 listings we track in Indianapolis, IN is $1,107/mo, with the cheapest starting at $800/mo. Prices change often, so confirm current rates on each listing.
- What is the cheapest apartment for rent in Indianapolis?
- Olivewood Apartments is the lowest-priced rental we're tracking in Indianapolis, IN at $800/mo. We rank every listing cheapest-first so the best-value options are always at the top.
- What is the average rent by bedroom in Indianapolis?
- Based on the listings we track in Indianapolis, IN: studios around $1,109/mo, one-bedrooms around $1,063/mo, two-bedrooms around $1,249/mo, three-bedrooms around $1,553/mo. These are averages and shift with availability.
- Is Indianapolis expensive to rent in?
- Relatively no. Indianapolis's average rent of $1,107/mo is about 5% below the IN state average of $1,171/mo, making it one of the more affordable markets in the state.
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