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Studio Apartments for Rent in Greenwood, IN

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    Starting at $1,237 Per Month

    • Studio - 2 Beds

    523 S Madison Ave, Greenwood, IN 46142

    Welcome to Madison at Greenwood Apartments, where modern comfort meets timeless style in the heart of Greenwood, Indiana. Designed with sophistication and convenience in mind, Madison at Greenwood offers a selection of spacious studio, one-, and two-bedroom apartments featuring contemporary finishes and open layouts that make you feel right at home.Each apartment home includes a

    Madison at Greenwood

    523 S Madison Ave, Greenwood, IN 46142
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    Call for Price

    • Studio - 2 Beds

    505 W Smith Valley Rd, Greenwood, IN 46142

    Cedarbrook Apartments

    505 W Smith Valley Rd, Greenwood, IN 46142
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    $1,889 Per Month

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Furnished Studio-Indianapolis - Greenwood

    1009 Greenwood Springs Dr, Greenwood, IN 46143

    Enjoy a fully furnished studio suite in our hotel at an affordable rate with free wi-fi, free utilities and free premium cable. Each studio suite has a full kitchen with full-size refrigerator, stovetop and microwave, and has a flexible workspace and plenty of storage. All our hotels are pet-friendly and have on-site guest laundry available. Plus, there are no long-term commitments and you can

    Furnished Studio-Indianapolis - Greenwood

    1009 Greenwood Springs Dr, Greenwood, IN 46143
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    Starting at $785 Per Month

    • Studio - 2 Beds

    136 Somerset Dr, Greenwood, IN 46143

    Somerset Place Apts.

    136 Somerset Dr, Greenwood, IN 46143
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    Starting at $827 Per Month

    • Studio - 3 Beds

    800 Kings Mill Rd, Greenwood, IN 46142

    Live life unapologetically with Polo Run Apartments as your home sweet home. Nestled on 35 acres of lush green space set against the bustling backdrop of the Greenwood Park Mall, our community is sensationally located. Exciting amenities and well-thought-out floor plans go hand in hand with countless retailers to ensure your days run smoothly. Our Greenwood apartments for rent feature

    Polo Run Apartments

    800 Kings Mill Rd, Greenwood, IN 46142
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    Starting at $775 Per Month

    • Studio - 2 Beds

    421 Waterbury St, Greenwood, IN 46142

    Spacious floor plans, Single-story design, Laundry facility on-site, pet friendly, convenient to shopping, washer/dryer hookups, quiet setting surrounded by trees. Waterbury Apartment Homes is located in beautiful Greenwood, Indiana and offers Studio, One Bedroom, and 2 Bedroom Apartment Homes.

    Waterbury Apartments

    421 Waterbury St, Greenwood, IN 46142

Why Live in Greenwood

Greenwood, a suburban community about 15 miles south of downtown Indianapolis, has experienced rapid growth since 2000. The city is known for its small-town charm and modern suburban development. Greenwood offers convenient access to the heart of Indiana's capital city via both Interstate 65 and Interstate 69. The community is also home to an Amazon fulfillment center that is part of the transportation and logistics hub along I-65. Greenwood offers a range of housing options, from affordable condos and midcentury ranch-style homes to large contemporary custom houses built close together in modern subdivision settings. The city’s accessibility is enhanced by U.S. Highway 31, which connects residents to the south side of Indianapolis as well as the neighboring city of Franklin. Greenwood features over 400 acres of park space and more than 20 miles of trails, with Craig Park being the largest. Craig Park also hosts the annual Freedom Festival, a highlight of the city's busy calendar of community events. The old Greenwood Middle School was converted into the Greenwood Fieldhouse, a state-of-the-art multiuse facility that blends recreational amenities with space for large events. The Greenwood Community School Corporation and The Center Grove Community School Corporation serve most of the city's students. Both districts are highly rated, with Greenwood known more for its band program and Center Grove known for athletics. The Greenwood Park Mall and the Old Town Historic District offer diverse shopping and dining experiences. And the west side is served by the Indiana state Road 135 commercial corridor.

Frequently Asked Questions

How much does it cost to rent a home in Greenwood, IN?
The median rent for a home in Greenwood, IN is $1,915 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Greenwood, IN?
To comfortably afford the median rent in Greenwood, IN, a household needs to earn roughly $76,600 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,915 per month in Greenwood, IN, renters typically need to show $5,745 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Greenwood, IN?
In Greenwood, IN, the price-to-rent ratio is 15.2, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Greenwood, IN are best for renting a home?
The best neighborhood for renting in Greenwood, IN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Fountain Square, North Meridian and Canal-White River, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
6
Median Rent
$1,915
Median Single Family Home Rent
$1,870
Median Townhouse Rent
$1,700
Median Condo Rent
$1,400
How to Rent a Home