As the city continues to grow, finding the cheapest neighborhoods in Indianapolis remains a top priority for renters looking to balance cost and convenience. Whether you’re a first-time renter, or just looking to increase your savings, exploring apartments in Indianapolis can help you find a community that fits your lifestyle and budget.
In this Rent. article, we’ll explore some of the most affordable neighborhoods in Indianapolis, complete with neighborhood highlights and key details to help you find your perfect home.
Here’s a quick look at some of the most budget-friendly neighborhoods in Indianapolis and what you can expect to pay for a one-bedroom apartment in each area.
| Neighborhood | Average 1-bedroom rent |
| Crown Hill | $739 |
| Near Southeast | $745 |
| Irvington | $795 |
| University Heights | $797 |
| East Side Indianapolis | $869 |
| Eagledale | $880 |
| East Side | $886 |
| Devington | $887 |
1. Crown Hill
Average 1-bedroom rent: $739 | YoY change: 6%
Average 2-bedroom rent: $910 | YoY change: 10%
Neighborhood highlights: Crown Hill Cemetery, historic charm, quiet streets
Crown Hill is home to the historic Crown Hill Cemetery, located at one of the highest points in the city. The area has stunning skyline views and provides a peaceful place to walk or bike. The neighborhood also has plenty of rental options, from older brick apartment buildings to affordable single-family homes. Local spots like The Grub House serve up some of the best soul food in the city. Additionally, the nearby Tarkington Park is a great spot for outdoor workouts or weekend farmers’ markets.
2. Near Southeast
Average 1-bedroom rent: $745 | YoY change: 2%
Average 2-bedroom rent: $900 | YoY change: 8%
Neighborhood highlights: Fountain Square access, local cafes, easy downtown commute
Near Southeast is a great place for renters looking for affordability and easy access to downtown. It’s a mix of historic homes, mid-century apartments, and newer townhomes, offering something for every budget. One of the biggest perks is Garfield Park. The park has beautiful gardens, walking trails, and an outdoor concert series in the summer. Public transit runs through the area, and biking downtown is an option for those who prefer two wheels over four.
3. Irvington
Average 1-bedroom rent: $795 | YoY change: 6%
Average 2-bedroom rent: $810 | YoY change: 1%
Neighborhood highlights: Artsy vibe, historic homes, unique local shops
Irvington has a strong community feel, tree-lined streets, and a unique historic charm. The neighborhood is known for its local businesses, including Jockamo Upper Crust Pizza, which has some of the best specialty pies in Indy. Irvington’s vintage shops and small bookstores make it fun to explore on foot. Additionally, the Pennsy Trail has a great biking route that connects to other parts of the city.
4. University Heights
Average 1-bedroom rent: $797 | YoY change: N/A
Average 2-bedroom rent: $887 | YoY change: N/A
Neighborhood highlights: Close to University of Indianapolis, tree-lined streets, small-town feel
Located near the University of Indianapolis, University Heights is a great neighborhood for anyone looking for affordable rentals near campus. The neighborhood has a relaxed, residential feel but is close enough to downtown that a quick drive or bus ride gets you to bars, restaurants, and entertainment. With access to Sarah T. Bolton Park and several walking trails, there are plenty of outdoor spaces to enjoy as well. If you’re looking for a quiet neighborhood with lower rent prices, University Heights is a solid option.
5. East Side Indianapolis
Average 1-bedroom rent: $869 | YoY change: N/A
Average 2-bedroom rent: $1,018 | YoY change: N/A
Neighborhood highlights: Diverse dining, local parks, convenient transit
East Side Indianapolis has plenty of rental options from older apartment complexes to single-family homes. The neighborhood has a strong local feel, with international grocery stores and family-owned restaurants scattered throughout. Saraga International Grocery is a must-visit for hard-to-find global ingredients. Also, His Place Eatery serves some of the best smoked meats and mac & cheese in Indy. While it’s more car-dependent, major roads like Washington Street and I-70 make commuting easy.
6. Eagledale
Average 1-bedroom rent: $880 | YoY change: 10%
Average 2-bedroom rent: $1,174 | YoY change: 18%
Neighborhood highlights: Speedway proximity, local shopping, suburban vibe
Eagledale is a no-frills neighborhood in Indianapolis with budget-friendly rents and easy access to some of the city’s best attractions. Located just minutes from Indianapolis Motor Speedway, this area is a solid choice for racing fans who want to be close to the action. It’s also home to Long’s Bakery, a local institution known for its melt-in-your-mouth yeast donuts. While it’s not the most walkable area, it’s a short drive to downtown, and public transit options are available along 38th Street.
7. East Side
Average 1-bedroom rent: $886 | YoY change: 0%
Average 2-bedroom rent: $1,153 | YoY change: -2%
Neighborhood highlights: Community parks, historic sites, easy highway access
East Side is home to Ellenberger Park, a huge green space with walking trails, sports courts, and plenty of picnic areas. The neighborhood also has a surprising number of great food spots like Steer-In. This classic diner has been serving comfort food for over 50 years. While some parts of the East Side feel more suburban, you’re still within a short drive of downtown, Irvington, and major shopping centers.
8. Devington
Average 1-bedroom rent: $887 | YoY change: 8%
Average 2-bedroom rent: $1,037 | YoY change: 5%
Neighborhood highlights: Golf courses, quiet streets, strong local businesses
Devington is one of those neighborhoods that flies under the radar, but it has some of the best rental prices in the city. One of the biggest perks of living here is the proximity to Fort Harrison State Park, where you can hike, fish, or just enjoy the outdoors. While it’s not the most walkable neighborhood, major roads like 42nd Street and Arlington Avenue make getting around easy. If you’re looking for affordability, extra space, and access to green spaces, Devington is a great option.
Methodology: All neighborhoods listed are based on Indianapolis’ Rental Market Trends on Rent.com. Average rental data and annual change data are sourced from February 2025.
