Cheap Apartments for Rent in the South Village Neighborhood of Indianapolis, IN from $500 (21 Rentals)

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

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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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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Garfield Place
2 Bedroom Apartments

Garfield Place

2236 Ransdell StIndianapolis, IN 46225
  • Utilities Included

Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

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South Village, Indianapolis, IN Local Guide

Cheapest Available South Village Apartments for Rent

 

The cheapest available apartment rental in the South Village area of Indianapolis, IN is a 1 Bed unit found at Volrath priced from $649. One Somerset has the second lowest priced unit, which is a 2 Beds apartment currently listed from $775. Here are the most affordable South Village apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Volrath**Free Month of Rent ** 128 E Palmer St - Studio1BR,1BA$649
One Somerset*ACT NOW- Price Drop* One Somerset - 1 Bed/1 Ba...2BR,1BA$775
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - FLATS2BR,1BA$899
Fox ClubOne Bedroom One Bath1BR,1BA$915
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$928

Best Value Apartments for Rent in South Village, IN

As of January 08, 2026 the best value apartment in the South Village area is the $1.35 price per square foot 4946 Camden St Model at 4946 Camden St, Unit Big Camden in the in the Shelby Street-Epler Avenue neighborhood starting from $2,300. The second greatest value South Village apartment is the 2 Bed 2 Bath Model at The Assumption on Blaine starting at $1,775 with a $1.35 price per square foot in the Concord neighborhood. Here is today’s list of the best values for South Village apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
4946 Camden St, Unit Big Camden4946 Camden St3BR,2BA$1.35
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.35
Fountain Square Townhomes2 Bed 1.5 Bath2BR,1.5BA$1.35
929 English Ave, Unit A929 English Ave2BR,2BA$1.36
Emhardt Apartments2BR/1.0BA2BR,1BA$1.21
Capital PlaceTwo Bedroom One Bath TH2BR,1BA$1.24
Fox ClubOne Bedroom One Bath1BR,1BA$1.14
522 Fletcher Ave1BR/1.5BA1BR,1.5BA$1.40
Welcome to Dawson Village – Welcome Home!Brand New Double2BR,1BA$1.43
Volrath0BR/1.0BAStudio ,1BA$1.29

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 Village, Indianapolis, IN

Ranked #73

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

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap South Village Apartments

What is the Cheapest Studio apartment in South Village?

Currently the most affordable Cheap Studio Apartment in South Village is at Volrath listed at $774.

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

The lowest price for a Cheap One Bedroom South Village Apartment is $649 at Volrath.

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

Today's best deal for a Cheap Two Bedroom Apartment in South Village is starting from $775 at One Somerset.

What is the most affordable South Village Three Bedroom Apartment?

The best deal on a cheap South Village Three Bedroom Apartment rental is at City Heights and starts from $1,360.

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.

Articles, How-To's, and Tips

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!