Low Income Apartments and Affordable Housing For Rent in Indianapolis, IN

Discover affordable housing in Indianapolis where there are 320+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Nora Commons on the Monon

8905 Evergreen Ave, Indianapolis, Indiana 46240

Brookhaven at County Line Road

940 Wild Indigo Ln, Indianapolis, Indiana 46227

Preston Pointe Apartments

5910 E. 12th St, Indianapolis, Indiana 46219

Thirty Four North Apartments

3402 N Meridian St, Indianapolis, Indiana 46208

Walnut Ridge Apartments

3347 North Emerson Avenue, Indianapolis, Indiana 46218

Woodlake Apartments

7401 Merganser Drive, Indianapolis, Indiana 46260

Lynhurst Park Apartments

3215 Joey Way, Indianapolis, Indiana 46241

Laurelwood Apartments

3340 Teakwood Dr, Indianapolis, Indiana 46227

Lafayette Landing

2333 Lafayette Rd, Indianapolis, Indiana 46222

Cambridge Square North

7110 Township Line Rd, Indianapolis, Indiana 46260

Windsor Park Apartments

6764 Lambert St, Indianapolis, Indiana 46241

Gardens of Greenbriar Apartments

1344 Viburnum Drive, Indianapolis, Indiana 46260

Colonial Square Apartments

5650 Renn Lane, Indianapolis, Indiana 46220

Carriage House Glendale

2516 Tacoma Circle, Indianapolis, Indiana 46220

Carriage House East

10174 Tinton Court, Indianapolis, Indiana 46235

Andrews Gardens

3333 Boulevard Place #101, Indianapolis, Indiana 46208

Community Place

1201 Community Pl, Indianapolis, Indiana 46227

Capitol Station

7828 Madison Ave, Indianapolis, Indiana 46227

Southwood Coop I

8102 Rexmill Dr, Indianapolis, Indiana 46227

Emma O Johnson Homes

819 Edgemont Avenue, Indianapolis, Indiana 46208

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Indianapolis, Indiana
$25.55/hour
$18.30 (+252%) more than Indiana minimum wage and $18.30 (+252%) more than the Federal minimum wage.
Learn More About Indianapolis, Indiana Affordable Housing ↓

What HUD offices serve Indianapolis, Indiana?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Section 8 Project-Based Voucher (PBV), Section 8 Project-Based Rental Assistance (PBRA), Rental Assistance Demonstration (RAD) programs for Indianapolis, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Indianapolis.

How many renters live in Indianapolis, Indiana?

The City of Indianapolis has 876,564 people living in 367,073 households.

There are 328,155 renters living in 159,137 renter households in this City. Renters make up 37.44 percent of the population living in Indianapolis.

What is the rental market like in Indianapolis, Indiana?

There are an estimated 401,713 housing units in the Indianapolis area. Of these, 167,978 units are rental homes, making up 42 percent of the housing market. For every renter household in Indianapolis, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Indianapolis?

The rental vacancy rate in Indianapolis is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Indianapolis for each bedroom size?

Occupied Rental Units by Size in Indianapolis
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
7,376 52,866 60,766 31,116 5,655
Occupied Rental Units by Size in Indianapolis

A large number of apartments in Indianapolis have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Indianapolis are overburdened by housing costs?

Among renter households in this market, 51 percent have housing cost burden. Further, 27 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Indianapolis

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $982 to $2,126. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $982
One BR $1,145
Two BR $1,349
Three BR $1,758
Four BR $2,126
2024 Fair Market Rents in Indianapolis, Indiana

How many units are rented at Fair Market Rent (FMR) in Indianapolis?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 5,152 70 percent
One BR 38,296 72 percent
Two BR 42,718 70 percent
Rental Units Below FMR in Indianapolis, Indiana

How many affordable rental units are in Indianapolis?

There are a variety of federal affordable housing programs serving households in Indianapolis, Indiana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 15,875
Public Housing 561
Section 8 Project-Based Rental Assistance 6,095
Section 202 Supportive Housing for the Elderly 642
Section 811 Supportive Housing for Persons with Disabilities 54
Tracked Units by Federal Program in Indianapolis, Indiana

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Indianapolis, Indiana

Indianapolis features 8,763 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Indianapolis, Indiana

There are 13,955 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Indianapolis.

Housing Choice Vouchers in Indianapolis, Indiana

On average, Section 8 Housing Choice vouchers pay Indianapolis landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Indianapolis.

The maximum amount a voucher would pay on behalf of a low-income tenant in Indianapolis, Indiana for a two-bedroom apartment is between $1,214 and $1,484.

Sourced from federal housing data and AffordableHousingOnline.com research.