I'm another supporter of the Indy golf scene...most of the courses have been listed already and the quality in the area is really high. I'm partial to The Fort (Dye) and The Trophy Club (Liddy).
It may not be "the best", but the Lexington, KY area has some really good affordable public golf.
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Kearney Hill ($26/30) is a good Pete Dye layout that would be quite good if it was on more acreage.
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Old Silo (about 40 min. east of Lexington, play all day for $59/74), One of Graham Marsh's first US projects. Fun layout on a fairly severe site. Unfortunately, it would be a really difficult walk (if walking is allowed at all)
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Cherry Blossom ($26/34), a well thought of Clyde Johnston design that has been ranked #1 in KY (public) by Golfweek for several years. A little over-rated IMO because of some repetition among par 3's and several front 9 par 4's, but a pleasant round. If I remember correctly, the playing conditions were firm and fast for a couple years after it opened. I'm not sure whether or not that has remained the case.
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Houston Oaks ($26/36), A low profile rural course with several dynamite holes and a few snoozers.
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Golf Club of the Bluegrass (no green fees on their site
), A pretty good site that has changed owners several times and been retooled. I haven't been there (or to any of these courses) in several years so I don't know its current situation. It always had the bones of a really good course if they could solve some maintenance issues.
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University Club of KY (Wildcat course $45/52), A 36 hole complex with one public track and one private. The entire complex was private when I lived there so no first hand experience, but it looked interesting from the road
.
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Gibson Bay ($14/22) Maybe the best value course I've experienced. It is a Hurdzan design that doesn't exhibit any groundbreaking architecture, but it makes the best of a somewhat hilly and open site. When you consider the green fee it is outstanding...
Now I don't think these courses would find their way on anyone's list of best of the best, but for value they are tough to beat.