Cheap Homes for Rent in Near Southside Neighborhood of Indianapolis, IN from $700 (44 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 1548 E Perry St

$800

Total Monthly Price

Total Monthly Price

Base Rent
$800

Total Monthly Price
$800

2 Bedroom, 1 Bath Home for Rent

Available Now

1548 E Perry St

IndianapolisIN46227

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.

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.

property at 2231 Union St

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200

Total Monthly Price
$1,200

3 Bedroom, 1 Bath Home for Rent

Available Now

2231 Union St

IndianapolisIN46225

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.

property at 1514 Ringgold Ave

$1,295

Total Monthly Price

Total Monthly Price

Base Rent
$1,295

Total Monthly Price
$1,295

3 Bedroom, 1 Bath Townhome for Rent

Available Now

1514 Ringgold Ave

IndianapolisIN46203

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.

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 Now

1202 Hoefgen St, Unit 1202

1202 Hoefgen St
IndianapolisIN46203

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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 $825. The Davlan has the second lowest priced unit, which is a 2 Beds apartment currently listed from $846. Here are the most affordable Near Southside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Volrath1BR/1.0BA1BR,1BA$825
The Davlan2-12BR,1BA$846
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$899
Dawson Village2 BR/1 BA - Partial Remodeled Flat2BR,1BA$945
Garfield Park Village2/1 Classic2BR,1BA$949
Indy Downtown Colonial Apartments1 Bedroom 1 Bath - 469701BR,1BA$955
Line LoftsThe Inspiraton 50%2BR,1BA$1,014
Artistry IndyEdie (EcoSuite)Studio,1BA$1,046
Lofts on MadisonStudio, 1 bathStudio,1BA$1,050
Canal SquareA1 Arch Upgrade1BR,1BA$1,099

Best Value Apartments for Rent in Near Southside, IN

As of June 12, 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 3 Bedroom 2 Bath Model at The Block starting at $2,529 with a $1.43 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
The Block3 Bedroom 2 Bath3BR,2BA$1.43
Maxwell ApartmentsChicago2BR,2BA$1.43
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 - Partial Remodeled Flat2BR,1BA$1.35
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$1.44
Volrath1BR/1.0BA1BR,1BA$1.38

Frequently Asked Questions about Near Southside

What type of rentals are currently available in Near Southside?

There are currently 195 Apartments for Rent in Near Southside, IN with pricing that ranges from $649 to $16,353. There are also 147 Single Family Homes for rent, Condos, and Townhome rentals currently available in Near Southside ranging from $725 to $4,750.

What is the current price range for Rental Homes in Near Southside?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Near Southside ranges from $725 to $4,750 with an average monthly rent of $1,786.

How much are larger Three and Four Bedroom Rentals in Near Southside?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Near Southside range from $995 to $6,595, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,100 to $3,520. Four Bedroom Single-Family rentals are also available starting from $1,600 and Four Bedroom Apartments start at $895.

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

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

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.

decorative image for Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters article

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.

decorative image for Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods article

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.

decorative image for Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home article

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

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

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units  article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent   article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.