Most Affordable Neighborhoods in Indianapolis, IN
Some of the cheapest neighborhoods in Indianapolis are Snacks Guion Creek, Crooked Creek, and Chapel Hill Ben Davis. These neighborhoods offer some of the lowest rent prices in Indianapolis, making them ideal for renters on a budget. As of January 1, 2025, the average rent in Indianapolis is $1,100, which is 3.4% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Snacks Guion Creek
Average Rent
$962/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
21/100
Units Available
112 Rentals
If you’re looking for a great, affordable neighborhood in Indianapolis, Snacks Guion Creek might be the perfect place! It has an average rent price of $962, while the city’s average stands at $1,100. In the last year, prices have increased by 2.8%. Snacks Guion Creek is near Indianapolis International, Nina Mason Pulliam EcoLab, and Purdue Indianapolis.
Crooked Creek
Average Rent
$1,005/Month
Year-Over-Year Rent Change
2.9%
TransitScore® Rating
26/100
Units Available
111 Rentals
Crooked Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Crooked Creek is $1,005 while the city average is $1,100. This is a 2.9% difference from last year. Residents enjoy convenient access to Northwestway Park, Marian Univ., Indianapolis, and Purdue Indianapolis. The neighborhood is considered car-dependent with a WalkScore® of 43.
Chapel Hill Ben Davis
Average Rent
$1,145/Month
Year-Over-Year Rent Change
2.9%
TransitScore® Rating
28/100
Units Available
139 Rentals
Chapel Hill Ben Davis is near Eagle Creek Park, one of the largest urban parks in the United States, which offers hiking, boating, and nature trails. In addition to nature, this neighborhood offers urban conveniences. Renters can easily commute via Interstate 465 to explore Indianapolis and everything it has to offer.
Southeast Indianapolis
Average Rent
$1,194/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
18/100
Units Available
142 Rentals
Southeast Indianapolis is well-connected to major highways like Interstate 65, offering renters quick access to downtown and the artsy Fountain Square District. This neighborhood also features several parks, giving residents ample space for outdoor recreation and relaxation.
South Perry
Average Rent
$1,202/Month
Year-Over-Year Rent Change
5.3%
TransitScore® Rating
26/100
Units Available
133 Rentals
South Perry offers a suburban atmosphere while also providing proximity to urban conveniences along Southport Road. Renters enjoy easy access to Perry Park, which has sports fields and a community pool. Proximity to nearby highways allows for a quick commute to downtown Indianapolis.
Near Northside
Average Rent
$1,206/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
53/100
Units Available
176 Rentals
With a unique mix of historic architecture and new developments, Near Northside stands out among Indianapolis residential areas. Renters can enjoy nearby cultural institutions like the Children’s Museum of Indianapolis and the Indianapolis Museum of Art. This area is also conveniently connected to major highways for easy commuting.
Eagle Creek
Average Rent
$1,208/Month
Year-Over-Year Rent Change
7.3%
TransitScore® Rating
30/100
Units Available
189 Rentals
Eagle Creek neighborhood is perfect for outdoor lovers, with its namesake park offering kayaking, hiking, and birdwatching near the Eagle Creek Reservoir. Interstate 74 provides easy access to downtown Indianapolis, making this area ideal for renters who seek nature without sacrificing convenience.
St Vincent Greenbriar
Average Rent
$1,208/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
28/100
Units Available
119 Rentals
When you’re looking for a great Indianapolis neighborhood on a budget, check out St Vincent Greenbriar. The average rent is $1,208, compared to the city average of $1,100. Rent prices have increased by 3%. St Vincent Greenbriar is convenient to Town Run Trail Park, Monon Trail, and Purdue Indianapolis. The community is somewhat walkable with a WalkScore® of 54.
Augusta
Average Rent
$1,282/Month
Year-Over-Year Rent Change
5.4%
TransitScore® Rating
24/100
Units Available
121 Rentals
Augusta is an affordable neighborhood in Indianapolis with an average rent price of $1,282. Compare this to the city average of $1,100. In the past year, rent prices have increased by 5.4%. Augusta provides easy access to Indianapolis International, Town Run Trail Park, and Ivy Tech Community College. It’s a car-dependent neighborhood with a WalkScore® of 39.
Castleton
Average Rent
$1,337/Month
Year-Over-Year Rent Change
8%
TransitScore® Rating
25/100
Units Available
202 Rentals
Castleton boasts a wide variety of retail options, including Castleton Square Mall, the largest shopping center in the state. Renters can take advantage of easy access to Interstate 465, offering convenient travel throughout Indianapolis. Outdoor enthusiasts will appreciate Sahm Park, with its golf course, trails, and community pool.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.