Cheap Apartments for Rent in the Near Southside Neighborhood of Indianapolis, IN from $500 (134 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Near Southside area of Indianapolis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Near Southside, Indianapolis, IN Local Guide

Cheapest Available Near Southside Apartments for Rent

 

The cheapest available apartment rental in the Near Southside area of Indianapolis, IN is a 1 Bed unit found at Garfield Park Village priced from $699. Volrath has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here are the most affordable Near Southside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Garfield Park Village1/1 Vintage1BR,1BA$699
Volrath1BR/1.0BA1BR,1BA$825
The Davlan2-12BR,1BA$846
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$899
Dawson Village2 BR/1 BA - FLATS2BR,1BA$899
Line LoftsThe Inspiraton 50%2BR,1BA$1,014
Lofts on MadisonStudio, 1 bathStudio,1BA$1,050
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$1,100
The VueSTUDIO APARTMENTStudio,1BA$1,180
Emhardt Apartments2BR/1.0BA2BR,1BA$1,195

Best Value Apartments for Rent in Near Southside, IN

As of July 01, 2026 the best value apartment in the Near Southside area is the $1.49 price per square foot 4 Beds, 4 Baths Model at 818-820 S Union St in the in the Concord neighborhood starting from $3,900. The second greatest value Near Southside apartment is the Athens Model at Maxwell Apartments starting at $1,761 with a $1.45 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Near Southside apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
818-820 S Union St4 Beds, 4 Baths4BR,4BA$1.49
Maxwell ApartmentsAthens2BR,2BA$1.45
Emhardt Apartments2BR/1.0BA2BR,1BA$1.26
Line LoftsThe Intuition 60%2BR,1BA$1.36
The Davlan2-12BR,1BA$0.95
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$1.31
Dawson Village2 BR/1 BA - FLATS2BR,1BA$1.28
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$1.44
Garfield Park Village2/1 Renovated2BR,1BA$1.61
Volrath1BR/1.0BA1BR,1BA$1.38

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Lifestyle Ratings

ApartmentHomeLiving.com is happy to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States and customized analysis for Central Indianapolis. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, pet-friendly features, features that make it easier to raise kids, proximity to transit, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Near Southside Apartments

What is a cheap apartment in Near Southside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Near Southside is under $1,195.

What is the price of a cheap apartment in Near Southside?

The cheapest apartment in Near Southside is Garfield Park Village which is listed at $699, while the average apartment in Near Southside costs $6,139.

What types of apartments are the cheapest in Near Southside?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 28 regular apartments in Near Southside that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Near Southside?

Cheap apartments in Near Southside have an average cost of $311 which is $5,828 cheaper than the average rent for all rentals in Near Southside.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Written by: Wendy Melton

Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

Articles, How-To's, and Tips

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.