Updated 10 Hours Ago
Location
5501 Milhouse Rd, Indianapolis, IN 46221, USA|Valley Mills
Tour 5501 Milhouse Rd
Contact
FirstKey Homes
Nearby rentals
Property management
Apartments for rent IndianapolisApartments for rent BloomingtonApartments for rent NoblesvilleApartments for rent GreenwoodApartments for rent Snacks - Guion CreekApartments for rent PlainfieldApartments for rent CambyApartments for rent Valley MillsApartments for rent FishersApartments for rent Chapel Hill - Ben DavisApartments for rent Downtown IndianapolisApartments for rent GreenfieldApartments for rent FranklinApartments for rent AvonApartments for rent Near SoutheastApartments Near Me
Houses for rent IndianapolisHouses for rent CarmelHouses for rent BloomingtonHouses for rent ShelbyvilleHouses for rent NoblesvilleHouses for rent AvonHouses for rent FortvilleHouses for rent CrawfordsvilleHouses for rent AndersonHouses for rent LebanonHouses for rent FishersHouses for rent PlainfieldHouses for rent CumberlandHouses for rent WhitestownHouses for rent MartinsvilleHouses for rent near me
Amenities for 5501 Milhouse Rd, Valley Mills
Community
| Laundry Hookups | Onsite Laundry |
Grounds
| Storage | Swimming Pool |
Services
| On-Site Management |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
All Policy
Allowed
Limit3
Questions about this property’s policies and fees?
About 5501 Milhouse Rd
Apply now or schedule your self-tour today and take the first step toward getting more than just a place to live. Rent with FirstKey Homes for a home that's right for you, plus professional service and maintenance, innovative resident programs, and more; that's the power of purple! This 4-bedroom, 1.5-bathroom rental home in Indianapolis, IN, may be the right place for you. The basement gives you valuable extra space to use your way. Extra storage gives you more room for everyday items. See the pictures to learn more. And apply soon – homes can go fast! This home is available to pre-lease! Reserve it by paying a refundable Hold Fee. (Exceptions apply in Colorado.) Find out more about pre-leasing on the Pre-Leasing page of the FirstKey Homes website. This home is currently occupied and coming soon; please respect the current resident's privacy and do not disturb. Please note that the advertised price may exclude additional fees. These include a $55 application fee per applicant; a one-time $75 admin fee; an $11 monthly utility management fee; other mandatory fees, if applicable, for pool maintenance, pet fees/rent, smart home, internet service, and propane refilling; and optional fees for services like self-guided tours with third-party provider Rently ($1.99 to $11.99). HOAs may also charge mandatory application and amenity fees, where applicable, which must be paid directly to the HOA. For a comprehensive overview of all potential fees, please see the Rental Fees page on the FirstKey Homes website. FirstKey Homes, LLC is an Equal Housing Lessor under the FHA. Applicable local, state and federal laws may apply. Lease terms and conditions apply. This is not an offer to rent; you must submit additional information for review and approval. Listed features may not be accurate; confirm details with a leasing representative. Certain cities and municipalities (including St. Louis and Chicago) require a home inspection prior to a new resident taking possession of the home. Please note that your move-in date could be adjusted to accommodate inspection requirements. Ask your leasing agent for more details. BEWARE OF RENTAL SCAMS: FirstKey Homes exclusively manages our homes (no third-party management). We do not lease homes through, Facebook Marketplace, or other classified advertising services. All applications and lease signing can only be completed through our online platform. We will never ask for wire transfers, cash apps like Venmo, Zelle, Cash App, PayPal, or any other transferring method to collect funds. Some photos may feature virtual furniture staging, which is intended to help visualize the space and potential designs. The rental home does not come with any furniture shown in the images and these virtual images do not represent actual furnishings. Listing photos are provided to help you select a home; all photos shown are for representative and illustrative purposes only but may not be exact. Colors and photo size may vary based on different resolutions, hue, brightness, contrast, or other photo variations. Photos on websites may be modified, changed, or amended at any time. For new construction homes, actual homes may vary; photos may be of similar home/floorplan; home may be under construction and photos may not be of actual home; individual homes, amenities, features, and views may differ.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 5501 Milhouse Rd, Indianapolis, IN 46221, USA compares to other nearby properties.
Positives
- More space
- The 4-bedroom is 468 sqft larger than other listings nearby
- Middle school nearby
- There is a middle school 1.1 miles away
- Extra Storage
- In-unit features
- Images available
- There are at least 10 photos of this address
- Laundry available on site
- Washers and dryers are available in-building
- Pool
- Pool access available at this location
Considerations
- Priced higher than average
- Some 4-bedrooms here are $760 more than the median rent in this area
Address details
| Neighborhood | Valley Mills |
|---|---|
| Zip code | 46221 |
| Type | House for rent |
Get the latest listings anytime, anywhere
Receive similar listings in the area, download our app, and more.
Rent trends in Valley Mills
4-bedroom apartments at 5501 Milhouse Rd cost about 17% more than the average rent price for 4-bedroom apartments in Indianapolis.
Median rents as of Oct 24 2026.
Valley Mills
Indianapolis
| Month | Median Rent |
|---|---|
| November 2024 | $1,807 |
| December 2024 | $1,816 |
| January 2025 | $1,854 |
| February 2025 | $1,885 |
| March 2025 | $1,942 |
| April 2025 | $1,993 |
| May 2025 | $2,025 |
| June 2025 | $2,040 |
| July 2025 | $1,984 |
| August 2025 | $1,900 |
| September 2025 | $1,894 |
| October 2025 | $1,885 |
| November 2025 | $1,810 |
| December 2025 | $1,820 |
| January 2026 | $1,842 |
| February 2026 | $1,868 |
| March 2026 | $1,942 |
| April 2026 | $2,004 |
| May 2026 | $1,984 |
| June 2026 | $2,068 |
| July 2026 | $2,009 |
| August 2026 | $1,971 |
| September 2026 | $1,995 |
| October 2026 | $1,983 |
| Month | Median Rent |
|---|---|
| November 2024 | $1,871 |
| December 2024 | $1,746 |
| January 2025 | $1,865 |
| February 2025 | $1,889 |
| March 2025 | $1,921 |
| April 2025 | $1,914 |
| May 2025 | $1,911 |
| June 2025 | $1,902 |
| July 2025 | $1,898 |
| August 2025 | $1,739 |
| September 2025 | $1,826 |
| October 2025 | $1,943 |
| November 2025 | $1,889 |
| December 2025 | $1,822 |
| January 2026 | $1,812 |
| February 2026 | $1,883 |
| March 2026 | $1,892 |
| April 2026 | $1,943 |
| May 2026 | $1,841 |
| June 2026 | $1,978 |
| July 2026 | $1,929 |
| August 2026 | $1,936 |
Affordability calculator
Can I afford to live at 5501 Milhouse Rd?
Bedrooms
4+ bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$91,840/yr
With your selected rent-to-income ratio, you'd ideally want to make $91,840 annually to afford this 4-bedrooms monthly rent price of $2,296.
For more information on rent affordability, visit our rent calculator.
Rent history
The increase or decrease in monthly rent compared to the previous listing price.| Bath | |||||
|---|---|---|---|---|---|
| 11 years ago | $1,099 | 3 bed | 1.5 bath |
Schools near 5501 Milhouse Rd
Gold Academy
5650 mann rd
indianapolis, IN, 46221
K-6Public
C
Lynwood Elementary School
4640 santa fe dr
indianapolis, IN, 46241
PK, K-6Public
Achieve Virtual Elementary
47 beachway dr
indianapolis, IN, 46224
K-6Public
C+
Rise Learning Center
5391 s shelby st
indianapolis, IN, 46227
PK, K-12Public
Little Quakers Academy
401 elm dr
plainfield, IN, 46168
PKPublic
Neighborhood
Valley Mills | Indianapolis, IN
Getting around Indianapolis near 5501 Milhouse Rd
Walking
2/10
You’ll need another mode of transportation for getting around. Scooter, anyone?
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Transit
0/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 5501 Milhouse Rd, Indianapolis
Groceries
0/10
No grocery stores within walking distance
Shopping
1/10
Few or no shops within walking distance
Cafes
0/10
Few or no cafés within walking distance
Restaurants
2/10
Few or no restaurants within walking distance
Primary schools
1/10
No elementary schools within a 30-minute walk
High schools
1/10
No high schools within a 30-minute walk
Parks
4/10
Limited amount of park space nearby
Nightlife
0/10
Few or no bars within walking distance
Other units at this address
5501 Milhouse Rd, Indianapolis, IN
5501 Milhouse Rd Indianapolis, IN
Occupied
3 Beds, 1.5 Baths
3 Beds
1.5 Baths
$1,099
Fireplace • Carpet
Compare similar properties nearby
Overlook at Valley Ridge Apartments
Our team has verified this companyI65-South Emerson • 6810 Valley Ridge Dr
3 Beds
$1,371–$4,581
Additional fees apply. The price shown reflects base rent. Based on information provided by the property, additional fees may apply, but no required monthly charges have been confirmed. See all fees for details.- dogs and cats ok
- garage parking
- on-site laundry
The Grounds
Our team has verified this companyNear Northside • 2136 Central Ave
3 Beds
$3,009–$3,127
Total Monthly Price. The price shown reflects a 12-month lease and includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
Legacy Park
Our team has verified this company6905 Legacy Park Dr
3 Beds
$1,908–$1,918
Total Monthly Price. The price shown reflects a 14-month lease and includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
8615 Bluff Point Dr, Indianapolis, IN, 46113
Our team has verified this companyCamby • 8615 Bluff Point Dr
3 Beds
$1,765
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
8446 Abbey Dell Dr, Indianapolis, IN, 46113
Our team has verified this companyCamby • 8446 Abbey Dell Dr
3 Beds
$1,825
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
7591 Monterey Cir, Avon, IN, 46123
Our team has verified this company7591 Monterey Cir
3 Beds
$2,180
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
522 Venus Dr, Indianapolis, IN, 46241
Our team has verified this companyChapel Hill - Ben Davis • 522 Venus Dr
3 Beds
$1,710
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
7611 Buck Run Ct, Indianapolis, IN, 46217
Our team has verified this companyGlenn's Valley • 7611 Buck Run Ct
4 Beds
$1,985
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
Overlook at Valley Ridge Apartments
Our team has verified this companyI65-South Emerson • 6810 Valley Ridge Dr
3 Beds
$1,371–$4,581
Additional fees apply. The price shown reflects base rent. Based on information provided by the property, additional fees may apply, but no required monthly charges have been confirmed. See all fees for details.- dogs and cats ok
- garage parking
- on-site laundry
The Grounds
Our team has verified this companyNear Northside • 2136 Central Ave
3 Beds
$3,009–$3,127
Total Monthly Price. The price shown reflects a 12-month lease and includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
Legacy Park
Our team has verified this company6905 Legacy Park Dr
3 Beds
$1,908–$1,918
Total Monthly Price. The price shown reflects a 14-month lease and includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
8615 Bluff Point Dr, Indianapolis, IN, 46113
Our team has verified this companyCamby • 8615 Bluff Point Dr
3 Beds
$1,765
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
8446 Abbey Dell Dr, Indianapolis, IN, 46113
Our team has verified this companyCamby • 8446 Abbey Dell Dr
3 Beds
$1,825
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
7591 Monterey Cir, Avon, IN, 46123
Our team has verified this company7591 Monterey Cir
3 Beds
$2,180
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
522 Venus Dr, Indianapolis, IN, 46241
Our team has verified this companyChapel Hill - Ben Davis • 522 Venus Dr
3 Beds
$1,710
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
7611 Buck Run Ct, Indianapolis, IN, 46217
Our team has verified this companyGlenn's Valley • 7611 Buck Run Ct
4 Beds
$1,985
Total Monthly Price. The price shown includes base rent and all known required monthly fees, based on information provided by the property.- dogs and cats ok
- garage parking
- on-site laundry
