Cheap Apartments for Rent in the South Perry Neighborhood of Indianapolis, IN from $683 (45 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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Fountain Lake Villas
Studio to 3 Bedroom Apartments

Fountain Lake Villas

2220 E Stop 13 RdIndianapolis, IN 46227
Senior Living

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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
  • Utilities Included
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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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Grand Oaks
1 to 2 Bedroom Apartments

Grand Oaks

7215 Grand Ritz LnIndianapolis, IN 46237
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Crestwood Village South
Studio to 2 Bedroom Apartments

Crestwood Village South

8809 Madison AveIndianapolis, IN 46227
Senior Living

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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The Hangar on Emerson
Rent Specials
$1,377 - $3,808

Total Monthly Price

Base Rent$1,377 - $3,808
Total Monthly PriceVaries
1 to 3 Bedroom Apartments Available Now

The Hangar on Emerson

1140 E Emerson Pointe DrGreenwood, IN 46143
Pet Friendly
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Showing Results 1-45, 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 Studio unit found at 5700 Madison Apartments & Edgewood on Madison priced from $683. Fountain Lake Villas has the second lowest priced unit, which is a 1 Bed apartment currently listed from $715. Here are the most affordable South Perry apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$683
Fountain Lake VillasThe Laurel1BR,1BA$715
Berkley CommonsOne Bedroom One Bath1BR,1BA$749
Waterbury ApartmentsStudioStudio,1BA$775
SherbrookStudioStudio,1BA$789
South & MadisonE2Studio,1BA$809
Buckridge at Southport1BR/1.0BA1BR,1BA$890
Greentree Apartments1x1 Classic1BR,1BA$899
The SterlingThe Lexington1BR,1BA$900
Auburn Place1 Bedroom 1 Bath1BR,1BA$942

Best Value Apartments for Rent in South Perry, IN

As of September 09, 2026 the best value apartment in the South Perry area is the $1.32 price per square foot 3 Bedroom 2.5 Bath Townhome Model at Mansfield Village Townhomes in the in the Winchester Village neighborhood starting from $2,175. The second greatest value South Perry apartment is the 2x2 Model at Park Madison Apartments starting at $1,250 with a $1.09 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.
Mansfield Village Townhomes3 Bedroom 2.5 Bath Townhome3BR,2.5BA$1.32
Park Madison Apartments2x22BR,2BA$1.09
Windsor CourtTwo Bedroom Two Bathroom (C3M)2BR,2BA$1.15
Oak ParkA1 Forest Upgrade1BR,1BA$1.19
SOUTHPORT AT BUCK CREEK2 Bedroom2BR,1BA$1.10
Martinique Terrace1 Bed/1 Ba Up Mini W/D1BR,1BA$1.34
The SterlingThe Remington2BR,1BA$1.28
Fountain Lake VillasThe Laurel1BR,1BA$0.92
Buckridge at Southport1BR/1.0BA1BR,1BA$1.24
Berkley CommonsOne Bedroom One Bath1BR,1BA$1.20

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

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Navigating the Rental Market: Tips for First-Time Renters

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

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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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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 5700 Madison Apartments & Edgewood on Madison listed at $683.

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

The lowest price for a Cheap One Bedroom South Perry Apartment is $715 at Fountain Lake Villas.

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 $800 at Fountain Lake Villas.

What is the most affordable South Perry Three Bedroom Apartment?

The best deal on a cheap South Perry Three Bedroom Apartment rental is at Berkley Commons and starts from $1,149.

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.

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