Cheap Apartments for Rent in the Near Southside Neighborhood of Indianapolis, IN from $500 (59 Rentals)

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

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

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property at 823 Iowa St

$1,100

2 Bedroom Rentals

Available Now

823 Iowa St

IndianapolisIN46203
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Residence on Penn
$1,199 - $1,599
Total Monthly Price

Total Monthly Price

Base Rent
$1,064 - $1,464
Required Monthly Fees
$135
Total Monthly Price
$1,199 - $1,599
Studio to 2 Bedroom Apartments Available Now

Residence on Penn

2801 S Pennsylvania StIndianapolis, IN 46225
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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

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Industry Indianapolis
$1,229 - $3,835
Total Monthly Price

Total Monthly Price

Base Rent
$1,114 - $3,720
Required Monthly Fees
$115
Total Monthly Price
$1,229 - $3,835
Studio to 2 Bedroom Apartments Available Now

Industry Indianapolis

421 N Pennsylvania StIndianapolis, IN 46204
Transit Friendly
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property at 1338 Barth Ave

$1,250 - $1,600

1 To 2 Bedroom Rentals

Available Now

1338 Barth Ave

IndianapolisIN46203

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Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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CityWay
$1,295 - $6,389
Total Monthly Price

Total Monthly Price

Base Rent
$1,245 - $6,339
Required Monthly Fees
$50
Total Monthly Price
$1,295 - $6,389
Studio to 3 Bedroom Apartments Available Now

CityWay

229 S Delaware StIndianapolis, IN 46204
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Garfield Place
2 Bedroom Apartments

Garfield Place

2236 Ransdell StIndianapolis, IN 46225
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550 Fletcher Ave
1 to 3 Bedroom Apartments

550 Fletcher Ave

550 Fletcher AveIndianapolis, IN 46203
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Mayleeno
1 Bedroom Apartments

Mayleeno

416 E Vermont PlIndianapolis, IN 46202
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Showing Results 1-50, Page 1 of 2

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 Volrath priced from $649. Garfield Park Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $789. Here are the most affordable Near Southside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Volrath**Free Month of Rent ** 128 E Palmer St - Studio1BR,1BA$649
Garfield Park Village1/1 Vintage1BR,1BA$789
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - FLATS2BR,1BA$899
Madison LoftsThe Flat 1x11BR,1BA$899
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$900
Devonshire Apartments in Downtown Indianapolis1BR/1.0BA1BR,1BA$990
Emhardt Apartments1BR/1.0BA1BR,1BA$995
Gathyr ApartmentsBellStudio,1BA$999
522 Fletcher Ave1BR/1.5BA1BR,1BA$1,025
Indy Downtown Colonial Apartments3111BR,1BA$1,025

Best Value Apartments for Rent in Near Southside, IN

As of February 15, 2026 the best value apartment in the Near Southside area is the $0.97 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,750. The second greatest value Near Southside apartment is the 2 Bed 2 Bath Model at The Assumption on Blaine starting at $1,475 with a $1.12 price per square foot in the Concord 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.
Shoemaker Buildingloft2BR,2BA$0.97
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.12
Wheeler LoftsH.21BR,1BA$1.44
Indy Downtown Colonial Apartments3111BR,1BA$1.05
Line LoftsThe Intuition 60%2BR,1BA$1.41
Emhardt Apartments1BR/1.0BA1BR,1BA$1.34
522 Fletcher Ave1BR/1.5BA1BR,1.5BA$1.40
Welcome to Dawson Village – Welcome Home!Brand New Double2BR,1BA$1.43
Madison LoftsThe Flat 1x11BR,1BA$1.44
Volrath1BR/1.0BA1BR,1BA$1.46

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

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

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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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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 $1,025.

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

The cheapest apartment in Near Southside is Volrath which is listed at $649, while the average apartment in Near Southside costs $12,927.

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 79 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 $213 which is $12,714 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.

Articles, How-To's, and Tips

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.