Cheap Apartments for Rent in the South Emerson Neighborhood of Indianapolis, IN from $600 (21 Rentals)

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

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Stone Lake
1 to 2 Bedroom Apartments

Stone Lake

2913 E Hanna AveIndianapolis, IN 46227
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Grand Oaks
1 to 2 Bedroom Apartments

Grand Oaks

7215 Grand Ritz LnIndianapolis, IN 46237
  • Utilities Included

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South Emerson, Indianapolis, IN Local Guide

Cheapest Available South Emerson Apartments for Rent

 

The cheapest available apartment rental in the South Emerson area of Indianapolis, IN is a Studio unit found at Sherbrook priced from $729. One Somerset has the second lowest priced unit, which is a 2 Beds apartment currently listed from $775. Here are the most affordable South Emerson apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
SherbrookStudioStudio,1BA$729
One Somerset*ACT NOW- Price Drop* One Somerset - 1 Bed/1 Ba...2BR,1BA$775
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$849
Greentree Apartments1 Bedroom 1 Bathroom1BR,1BA$850
Parc Bordeaux ApartmentsStudioStudio,1BA$850

Best Value Apartments for Rent in South Emerson, IN

As of March 12, 2026 the best value apartment in the South Emerson area is the $1.24 price per square foot 2 Bedroom 2.5 Bath Townhome Model at Coventry Park Village in the in the Southeast Indianapolis neighborhood starting from $1,650. The second greatest value South Emerson apartment is the 3 Bedroom Model at Park View at Beech Grove starting at $1,627 with a $1.36 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for South Emerson apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Coventry Park Village2 Bedroom 2.5 Bath Townhome2BR,2.5BA$1.24
Park View at Beech Grove3 Bedroom3BR,2.5BA$1.36
Fox ClubTwo Bedroom Two Bath2BR,2BA$1.10
Encore Apartments2BR/1.5BA2BR,1.5BA$1.30
Beech Meadow ApartmentsAspen2BR,1.5BA$1.03
Beech Tree Glen Apartments2x1R2BR,1BA$1.23
Strawbridge GreenEmerson2BR,1BA$1.05
Churchman Woods2 BEDROOM2BR,1BA$1.30
Sherman VillageGarden Apt1BR,1BA$1.28
Sawmill Apartments1 Bed 1 Bath Small1BR,1BA$1.31

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

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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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Pet Friendly Lifestyle
South Emerson, Indianapolis, IN

Ranked #113

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Best Local Schools in
South Emerson, Indianapolis, IN

School data provided by Great Schools

Frequently Asked Questions about Cheap South Emerson Apartments

What is a cheap apartment in South Emerson?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Emerson is under $945.

What is the price of a cheap apartment in South Emerson?

The cheapest apartment in South Emerson is Sawmill Apartments which is listed at $849, while the average apartment in South Emerson costs $1,638.

What types of apartments are the cheapest in South Emerson?

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 4 regular apartments in South Emerson 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 South Emerson?

Cheap apartments in South Emerson have an average cost of $614 which is $1,024 cheaper than the average rent for all rentals in South Emerson.

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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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.

Articles, How-To's, and Tips

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Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.