Cheap Apartments for Rent in the Near Southside Neighborhood of Indianapolis, IN from $500 (71 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

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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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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Axis
Rent Specials
$1,109 - $3,164Studio to 2 Bedroom Apartments Available Now

Axis

401 N Senate AveIndianapolis, IN 46204
Corporate Housing
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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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The Art of the Rental Viewing: What to look for during a property tour

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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property at 237 Villa Ave

237 Villa Ave

IndianapolisIN46201

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

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 2 Beds unit found at Line Lofts priced from $563. Garfield Park Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $753. Here are the most affordable Near Southside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Line LoftsThe Inspiration 30%2BR,1BA$563
Garfield Park Village1/1 Vintage1BR,1BA$753
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - FLATS2BR,1BA$899
Maxwell ApartmentsMilanStudio,1BA$970
Devonshire Apartments in Downtown Indianapolis1BR/1.0BA1BR,1BA$990
Indy Colonial ApartmentsOne Bedroom1BR,1BA$1,025
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$1,030
Gathyr ApartmentsBatesStudio,1BA$1,049
Artistry IndyJacquelineStudio,1BA$1,060

Best Value Apartments for Rent in Near Southside, IN

As of October 30, 2025 the best value apartment in the Near Southside area is the $1.00 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,800. The second greatest value Near Southside apartment is the 2 Bedroom 2 Bath Model at The Block starting at $1,999 with a $1.11 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$1.00
The Block2 Bedroom 2 Bath2BR,2BA$1.11
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.35
Fountain Square Townhomes2 Bed 1.5 Bath2BR,1.5BA$1.35
Indy Colonial ApartmentsOne Bedroom1BR,1BA$1.05
Line LoftsThe Intuition 60%2BR,1BA$1.53
Emhardt Apartments2BR/1.0BA2BR,1BA$1.21
Penn Street Tower ApartmentsWabash: Floors 02-071BR,1BA$1.61
1115 Laurel St, Unit B1115 Laurel StStudio ,1BA$1.23
Welcome to Dawson Village – Welcome Home!Brand New Double2BR,1BA$1.56

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Pet Friendly Lifestyle
Near Southside, Indianapolis, IN

Ranked #19

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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!

Getting Around the Near Southside Neighborhood in Indianapolis, IN

Walk Score®

40 / 100

Car-Dependent

Most errands require a car

Bike Score®

50 / 100

Bikeable

Some bike infrastructure

Transit Score®

31 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $1,060.

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 $753, while the average apartment in Near Southside costs $8,080.

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 16 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 $140 which is $7,940 cheaper than the average rent for all rentals in Near Southside.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.