7 Activities for Renters to Do in Indianapolis
Looking for ways to fall in love with Indianapolis as a renter? Here are are some of the hotspots that will do the trick: Broad Ripple Village, NCAA Hall of Champions, Monument Circle, Children’s Museum of Indianapolis or Monon Rail Trail. No matter the time of year, there’s plenty to do and see in Indiana’s […]
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Top 10 Best Neighborhoods for Renters in Indianapolis
If you’re looking to rent in Indy, checking out the best neighborhoods to live in is a must. To make things easier for you, here are some of our top picks: Downtown Indianapolis, Broad Ripple, Castleton, Brockton, Crooked Creek, Bayview and North Willow. The neighborhood where you’ll live as a renter is one of the […]
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Best Schools in Indianapolis, IN for Renters With Kids
Finding the right school for your children can be tough if you’re new to the city. Luckily, here are some of the best picks Indy has to offer renters with families who decide to call this city their home: Speedway Junior High School, Sidener Academy for High Ability Students, Acton Elementary School, Herron High School, […]
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Prices and availability in Indianapolis, IN were last updated on 5 Apr 2026.
The best apartments in Indianapolis, IN are: 7 Pointe Apartments, CityView on Meridian, Monon Court, Managed by Buckingham Monon Living, Carlyle Court and Meridian Court South.
In Indianapolis 44% of the housing is rented out compared to 56% of homes are owned, according to the most recent Census Bureau estimates. 12% of Indianapolis's apartments are found in large buildings of 50 units or more, 62% are located in smaller apartment complexes with less than 50 units, and 25% are single-family rentals.
Balancing snug and cheap is no joke when it comes to renting a place to live. “Are there any apartments near me under $500?” is a great question to start from. Knowing your budget means you’re one step ahead and on the right track. We’ve taken care of the rest and found 3 apartments for rent in Indianapolis, IN on which you’ll spend less than $500. A small, cheap rental means you’ll have to budget your living space as well. The great news is that keeping it simple pays off in more than one way. The cost of utilities is likely to run low, and you get the added benefit of not having to spend too much time cleaning up the whole place. Smaller apartments are more likely to be closer to the city center, so there are potential cuts to your transportation costs too. And here’s one more very special secret to add to your book-of-perks: you’re less likely to overshop when you know your space is limited.
Our goal is to help you find cheap apartments that live up to your dreams without crushing your budget. It may be a long shot to go looking for 3 bedroom apartments or even 2 bedroom for less than $500. The average rental size in Indianapolis, IN is 1,002 Sqft, but the $500 limit will probably narrow your search to places with a smaller square footage. Go through our listings and be on the look-out for a hassle-free studio or a 1 bedroom apartment. We trust you’ll turn it into a cozy home which is also budget-friendly to the core.
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