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apartments under 500
Last updated March 3 2024 at 7:51 PM

Indianapolis, IN
9 Apartments for Rent under $500

Finding a deal on affordable apartments under $500 in Indianapolis is worth the extra effort. Come ready to pounce on the best deals. Call the property management in advance... Read Guide >
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Frequently Asked Questions

Frequently Asked Questions (FAQs)

How expensive is it to rent a studio apartment in Indianapolis?

The average rent for a studio apartment in Indianapolis is $1,109 per month.

How much is rent for a one-bedroom apartment in Indianapolis?

One-bedroom apartment rentals in Indianapolis rent for $1,230 per month.

What is the typical rent for a two-bedroom apartments in Indianapolis?

The average rent for a two-bedroom apartment in Indianapolis is $1,548 per month.
City Guide for Indianapolis, IN

Having trouble with Craigslist Indianapolis? Can't find that special apartment for rent on Apartment Finder or Apartment Guide? Apartment List is here to help!

Indianapolis is an enigma. Naptown, Indianoplace, and references by Baltimorians too unsavory for this site are all used as paramount putdowns about a city thought to be blander and more uninspired than powdered water. But Indianapolis is the capital city to movies set in the Hoosier State such as Hoosiers, Breaking Away, and Rudy (if ever you've wanted to see a grown man quiver and cry with joy rent these, you'll see). Plus, at certain times of the year, Indy becomes as frenetic as any city on earth; like its New Years, Mardi Gras, Fourth of July, and Robert Isray Appreciation Day all rolled into one. See more

What to keep in mind when looking for apartments under $500 in Indianapolis, IN

Finding a deal on affordable apartments under $500 in Indianapolis is worth the extra effort. Come ready to pounce on the best deals. Call the property management in advance to ask what paperwork they need and come prepared. Bank statements, pay stubs, identification, and letters of recommendation from an employer or landlord are usually standard. It’s better to come to an apartment tour over-prepared and ready to sign.

You probably won’t find affordable apartments under $500 in Indianapolis in the heart of the action, but you can still land in a neighborhood you love. Look for locations on the outskirts of your dream location or reconsider how much space you really need. A studio apartment may offer plenty of space in your ideal neighborhood at a cheaper price point.

Some property managers will also know about apartments under $500 in other buildings they manage, or through word-of-mouth from industry contacts. Ask about any leads if you can’t find the space you need. Touring the first floor for affordable apartments that need some updating can also yield a great deal.