Cheap Apartments for Rent in the Near Southside Neighborhood of Indianapolis, IN from $500 (118 Rentals)

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

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property at 1338 Barth Ave

$1,250 - $1,600

1 To 2 Bedroom Rentals

Available Now

1338 Barth Ave

IndianapolisIN46203
property at 1202 Hoefgen St

$1,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,300
Total Monthly Price
$1,300

2 Bedroom, 1 Bath Townhome for Rent

Available May 2

1202 Hoefgen St, Unit 1202

1202 Hoefgen St
IndianapolisIN46203

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

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property at 1549 Nelson Ave

$1,360

Total Monthly Price

Total Monthly Price

Base Rent
$1,360
Total Monthly Price
$1,360

3 Bedroom, 1 Bath Rentals

Available Apr 2

1549 Nelson Ave

IndianapolisIN46203

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Showing Results 1-50, Page 1 of 3

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 $799. 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 Renovated1BR,1BA$799
The Davlan2-12BR,1BA$846
Devonshire Apartments1BR/1.0BA1BR,1BA$890
Artistry IndyEdie (EcoSuite)Studio,1BA$898
Madison LoftsThe Flat 1x11BR,1BA$899
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$900
Dawson VillageRenovated 2 Bedroom Flat - Open Kitchen Floorplan2BR,1BA$950
Maxwell ApartmentsMilanStudio,1BA$953
Indy Downtown Colonial Apartments1 Bedroom 1 Bath - 469701BR,1BA$980

Best Value Apartments for Rent in Near Southside, IN

As of April 01, 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 3 Bedroom 2 Bath Model at The Block starting at $2,639 with a $1.49 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.
Shoemaker Buildingloft2BR,2BA$0.97
The Block3 Bedroom 2 Bath3BR,2BA$1.49
1337 Prospect St, Unit 31337 Prospect St2BR,2BA$1.12
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.20
Line LoftsThe Intuition 60%2BR,1BA$1.36
The Davlan2-12BR,1BA$0.95
The E'LaanThe Vonnegut1BR,1BA$1.53
Dawson Village2 BR/1 BA - Partial Remodeled Flat2BR,1BA$1.32
Madison LoftsThe Flat 1x11BR,1BA$1.44
Volrath0BR/1.0BAStudio ,1BA$1.29

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

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

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

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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 $980.

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 $13,671.

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 63 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 $264 which is $13,407 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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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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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

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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.