Cheap Apartments for Rent in the Old Southside Neighborhood of Indianapolis, IN from $600 (35 Rentals)

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

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.

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9 On Canal
Rent Specials
$1,060 - $3,315
Total Monthly Price

Total Monthly Price

Base Rent
$1,060 - $3,315
Total Monthly Price
$1,060 - $3,315
Studio to 3 Bedroom Apartments Available Now

9 On Canal

335 W 9th StIndianapolis, IN 46202
Furnished
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Ralston Apartments
Rent Specials
$1,216 - $3,283
Total Monthly Price

Total Monthly Price

Base Rent
$1,216 - $3,283
Total Monthly Price
Varies
1 to 4 Bedroom Apartments Available Now

Ralston Apartments

1201 Indiana AveIndianapolis, IN 46202
Corporate Housing
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  • Customer Reviewed
  • 3D Tour

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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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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Showing Results 1-35, Page 1 of 1

Old Southside, Indianapolis, IN Local Guide

Cheapest Available Old Southside Apartments for Rent

 

The cheapest available apartment rental in the Old Southside area of Indianapolis, IN is a Studio unit found at Priscilla on Pennsylvania priced from $799. Madison Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here are the most affordable Old Southside apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Priscilla on PennsylvaniaStudio- 1st Floor CornerStudio,1BA$799
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$899
River West FlatsOne Bedroom One Bath - The Driftwood1BR,1BA$919
Lofts on MadisonStudio, 1 bathStudio,1BA$1,050
9 On CanalStudio - StockholmStudio,1BA$1,060
Artistry IndyJacquelineStudio,1BA$1,087
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$1,100
RiverviewCalumetStudio,1BA$1,195
Vivio on Tenth0x1-S1-401Studio,1BA$1,199
Penn Street Tower ApartmentsWabash: Floors 02-071BR,1BA$1,199

Best Value Apartments for Rent in Old Southside, IN

As of June 21, 2026 the best value apartment in the Old 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 Old Southside apartment is the 3 Bedroom 2 Bath Model at The Block starting at $2,879 with a $1.63 price per square foot in the Riley neighborhood. Here is today’s list of the best values for Old 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$1.63
Maxwell ApartmentsAthens2BR,2BA$1.46
WesmontTwo Bedroom - Body and Soul2BR,2BA$1.76
The E'LaanThe Vonnegut1BR,1BA$1.84
The Avenue2x22BR,2BA$1.16
The Assumption on Blaine1 Bed 1 Bath1BR,1BA$1.31
River West FlatsTwo Bedroom One Bath - The Hudson2BR,1BA$1.71
Penn Street Tower ApartmentsSt. Clair: Floors 10-121BR,1BA$1.76
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$1.44

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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
Old Southside, Indianapolis, IN

Ranked #15

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Old Southside Apartments

What is a cheap apartment in Old Southside?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Southside is under $1,199.

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

The cheapest apartment in Old Southside is Madison Lofts which is listed at $899, while the average apartment in Old Southside costs $2,481.

What types of apartments are the cheapest in Old 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 60 regular apartments in Old 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 Old Southside?

Cheap apartments in Old Southside have an average cost of $333 which is $2,148 cheaper than the average rent for all rentals in Old 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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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.

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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.

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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.