Cheap Apartments for Rent in the South Perry Neighborhood of Indianapolis, IN from $700 (42 Rentals)

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

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Windsor Court
1 to 2 Bedroom Apartments

Windsor Court

7302 Queen Anne CtIndianapolis, IN 46227
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Encore Apartments
Studio to 2 Bedroom Apartments

Encore Apartments

8035 Preidt PlIndianapolis, IN 46237
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South & Madison
Studio to 3 Bedroom Apartments

South & Madison

1819 Madison Village DrIndianapolis, IN 46227
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The Sterling
1 to 2 Bedroom Apartments

The Sterling

8020 Madison AveIndianapolis, IN 46227
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Fountain Lake Villas
Studio to 3 Bedroom Apartments

Fountain Lake Villas

2220 E Stop 13 RdIndianapolis, IN 46227
Senior Living
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Grand Oaks
1 to 2 Bedroom Apartments

Grand Oaks

7215 Grand Ritz LnIndianapolis, IN 46237
  • Utilities Included

South Perry - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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Crestwood Village South
Studio to 2 Bedroom Apartments

Crestwood Village South

8809 Madison AveIndianapolis, IN 46227
Senior Living

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Showing Results 1-42, Page 1 of 1

South Perry, Indianapolis, IN Local Guide

Cheapest Available South Perry Apartments for Rent

 

The cheapest available apartment rental in the South Perry area of Indianapolis, IN is a 1 Bed unit found at Berkley Commons priced from $749. Windsor Court has the second lowest priced unit, which is a 1 Bed apartment currently listed from $768. Here are the most affordable South Perry apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Berkley CommonsOne Bedroom One Bath1BR,1BA$749
Windsor CourtStandard One Bedroom (SN1)1BR,1BA$768
Waterbury ApartmentsStudioStudio,1BA$775
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$790
South & MadisonE2Studio,1BA$809
SherbrookStudioStudio,1BA$819
Buckridge at Southport1BR/1.0BA1BR,1BA$850
Polo Run ApartmentsThe Morgan 1 BR 1 BA1BR,1BA$860
Greentree Apartments1x1 Classic1BR,1BA$889
SOUTHPORT AT BUCK CREEK1 Bedroom1BR,1BA$962

Best Value Apartments for Rent in South Perry, IN

As of July 26, 2026 the best value apartment in the South Perry area is the $1.15 price per square foot 3 Bedroom 1.5 Bath Model at Auburn Place in the in the Winchester Village neighborhood starting from $1,675. The second greatest value South Perry apartment is the 2 Bedroom 1.5 Bath Townhome Model at Mansfield Village Townhomes starting at $1,699 with a $1.27 price per square foot in the Winchester Village neighborhood. Here is today’s list of the best values for South Perry apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Auburn Place3 Bedroom 1.5 Bath3BR,1.5BA$1.15
Mansfield Village Townhomes2 Bedroom 1.5 Bath Townhome2BR,1.5BA$1.27
Lakes of WindsorWinchester2BR,1BA$1.39
Oak ParkB2 Timber Upgrade2BR,1BA$1.21
The SycamoresThe Spruce2BR,2BA$1.41
Martinique Terrace2 Bed/1 Ba Standard Dn2BR,1BA$1.09
Fountain Lake VillasThe Laurel1BR,1BA$1.38
Buckridge at Southport1BR/1.0BA1BR,1BA$1.18
SOUTHPORT AT BUCK CREEK1 Bedroom1BR,1BA$1.37
Berkley CommonsOne Bedroom One Bath1BR,1BA$1.20

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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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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for South Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap South Perry Apartments

What is the Cheapest Studio apartment in South Perry?

Currently the most affordable Cheap Studio Apartment in South Perry is at Waterbury Apartments listed at $775.

How much is rent for a Cheap One Bedroom South Perry Apartment?

The lowest price for a Cheap One Bedroom South Perry Apartment is $749 at Berkley Commons.

What is the lowest price for a Cheap Two Bedroom South Perry Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Perry is starting from $945 at Polo Run Apartments.

What is the most affordable South Perry Three Bedroom Apartment?

The best deal on a cheap South Perry Three Bedroom Apartment rental is at South & Madison and starts from $1,263.

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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Written by: Wendy Melton

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

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

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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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