Cheap Homes for Rent in Near Southside Neighborhood of Indianapolis, IN from $500 (57 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
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 117 E Palmer St

117 E Palmer St

IndianapolisIN46225
property at 340 Prospect St

340 Prospect St

IndianapolisIN46225
property at 423 Villa Ave

423 Villa Ave

IndianapolisIN46201
property at 501 Madison Ave

501 Madison Ave

IndianapolisIN46225
property at 1543 E Ohio St

1543 E Ohio St

IndianapolisIN46201
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 Garfield Park Village priced from $779. Artistry Indy has the second lowest priced unit, which is a Studio apartment currently listed from $892. Here are the most affordable Near Southside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Garfield Park Village1/1 Vintage1BR,1BA$779
Artistry IndyJacquelineStudio,1BA$892
The Continental Towers at Vermont PlaceContinental Unrenovated - Willard1BR,1BA$899
Devonshire Apartments in Downtown Indianapolis1BR/1.0BA1BR,1BA$990
Lofts on MadisonStudioStudio,1BA$999
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - TOWN HOME2BR,1BA$999
Indy Colonial Apartments1 Bed, 1 bath1BR,1BA$1,000
Mozzo apartments7180A6 - Rava Studio - 512 SqftStudio,1BA$1,025
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$1,030

Best Value Apartments for Rent in Near Southside, IN

As of September 14, 2025 the best value apartment in the Near Southside area is the $1.08 price per square foot loft Model at Shoemaker Building in the in the Riley neighborhood starting from $1,950. The second greatest value Near Southside apartment is the M Model at Wheeler Lofts starting at $1,871 with a $1.26 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$1.08
Wheeler LoftsM2BR,1BA$1.26
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.35
Fountain Square Townhomes2 Bed 1.5 Bath2BR,1.5BA$1.35
The Block2 Bedroom 1 Bath2BR,1BA$1.55
Penn Street Tower ApartmentsSenate 2 Bedroom 1 Bath Apartment at 115 Penn A...2BR,1BA$1.37
Emhardt Apartments2BR/1.0BA2BR,1BA$1.32
1641 E Michigan St, Unit B1641 E Michigan St2BR,1BA$1.45
Madison LoftsThe Villa 2x12BR,1BA$1.44
2209 Ransdell St, Unit 1012209 Ransdell St2BR,1BA$1.31

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.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

Frequently Asked Questions about Near Southside

What type of rentals are currently available in Near Southside?

There are currently 176 Apartments for Rent in Near Southside, IN with pricing that ranges from $779 to $8,615. There are also 191 Single Family Homes for rent, Condos, and Townhome rentals currently available in Near Southside ranging from $599 to $6,000.

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 $599 to $6,000 with an average monthly rent of $2,236.

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 $1,300 to $5,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $995 to $3,995. Four Bedroom Single-Family rentals are also available starting from $1,545 and Four Bedroom Apartments start at $1,600.

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.

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

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.