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$556 - $2,561Studio to 2 Bedroom Apartments Available Now
Rise on Meridian
915 S Meridian StIndianapolis, IN 46225
Cheap Apartments for Rent in the South Village Neighborhood of Indianapolis, IN from $556 (32 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Village area of Indianapolis.
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$749 - $1,426Studio to 2 Bedroom Apartments Available Now
Garfield Park Village
360 Sandra LnIndianapolis, IN 46227
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$824 - $1,4091 to 3 Bedroom Apartments Available Now
Capital Place
4100 Continental CtIndianapolis, IN 46227
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$830 - $1,3491 to 2 Bedroom Apartments Available Now
Madison Lofts
1430 Madison AveIndianapolis, IN 46225
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$850 - $1,0501 to 2 Bedroom Apartments Available Now
Thompson Village Apartments
139 Thompson Village WayIndianapolis, IN 46227
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$870 - $2,0741 to 2 Bedroom Apartments Available Now
Pine Glen
4259 Burkhart DrIndianapolis, IN 46227
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$875 - $1,025
Total Monthly Price
Base Rent$875 - $1,025
Total Monthly PriceVaries
One Somerset
3761 S State AveIndianapolis, IN 46227
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$899 - $1,0952 Bedroom Apartments Available Now
Dawson Village
2469 Dawson StIndianapolis, IN 46203
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.
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$900
Total Monthly Price
Base Rent$900
Total Monthly Price$900
701 E Perry St, Unit 701 E. Perry Street
701 E Perry StIndianapolis, IN 46227
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$900
Total Monthly Price
Base Rent$900
Total Monthly Price$900
755 E Perry St, Unit 755 E. Perry Street
755 E Perry StIndianapolis, IN 46227
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$915 - $1,2601 to 2 Bedroom Apartments Available Now
Fox Club
4401 S Keystone AveIndianapolis, IN 46227
2246 Ransdell St
IndianapolisIN46225
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$9991 Bedroom Apartments Available Now
522 Fletcher Ave
522 Fletcher AveIndianapolis, IN 46203
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$999 - $1,499
Total Monthly Price
Base Rent$999 - $1,499
Total Monthly Price$999 - $1,499
1701 Fletcher Ave
1701 Fletcher AveIndianapolis, IN 46203
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$1,038 - $1,4391 to 3 Bedroom Apartments Available Now
Rosedale Hills
2139 E Hanna AveIndianapolis, IN 46227
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$1,050 - $1,424Studio to 1 Bedroom Apartments Available Now
Lofts on Madison
501 Madison AveIndianapolis, IN 46225
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
2229 Union St
IndianapolisIN46225
2242 Ransdell St
IndianapolisIN46225
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$1,100 - $1,7951 to 2 Bedroom Apartments Available Now
The Assumption on Blaine
1105 Blaine AveIndianapolis, IN 46221
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$1,140 - $1,890Studio to 2 Bedroom Apartments Available Now
Forte Apartments
1140 Shelby StIndianapolis, IN 46203
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$1,152 - $1,5921 to 3 Bedroom Apartments Available Now
City Heights
457 Monument View DrIndianapolis, IN 46227
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$1,1952 Bedroom Apartments Contact Us For Availability
Emhardt Apartments
512 E Minnesota StIndianapolis, IN 46203
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$1,199 - $1,5991 to 3 Bedroom Apartments Available Now
Hanna Village
4020 Hanna Village DrIndianapolis, IN 46227
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$1,200
Total Monthly Price
Base Rent$1,200
Total Monthly Price$1,200
1158 Laurel St, Unit 1st Floor Apartment
1158 Laurel StIndianapolis, IN 46203
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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$1,2002 Bedroom Apartments Available Now
32 Adler St, Unit 32
32 Adler StIndianapolis, IN 46225
2231 Union St
IndianapolisIN46225
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1 Bedroom Apartments
Parkside Living Apartments
2900 S Pennsylvania StIndianapolis, IN 46225
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2 Bedroom Apartments
Garfield Place
2236 Ransdell StIndianapolis, IN 46225
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3 Bedroom Apartments
Garfield Parkside Townhomes
401 E Southern AveIndianapolis, IN 46225
2177 S Delaware St
IndianapolisIN46225
2826 Brill Rd
IndianapolisIN46225
1024 E Bradbury Ave
IndianapolisIN46203
South Village - 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!
Showing Results 1-32, Page 1 of 1
South Village, Indianapolis, IN Local Guide
How much does it cost to rent an apartment in South Village?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Village Studio Apartments | $1,318 | $556 | $1,599 |
| South Village 1 Bedroom Apartments | $1,368 | $596 | $2,380 |
| South Village 2 Bedroom Apartments | $1,399 | $716 | $3,130 |
| South Village 3 Bedroom Apartments | $2,019 | $1,250 | $4,937 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 32 rentals with your search options within a 2 mile radius of the South Village Neighborhood of Indianapolis, IN.
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South Village, Indianapolis, IN Local Guide
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Cheapest Available South Village Apartments for Rent
The cheapest available apartment rental in the South Village area of Indianapolis, IN is a 3 Beds unit found at Garfield Parkside Townhomes priced from $708. Garfield Park Village has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here are the most affordable South Village apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Garfield Parkside Townhomes | 3BR | 3BR,2BA | $708 |
| Garfield Park Village | 0/1 Renovated | Studio,1BA | $749 |
| Capital Place | One Bedroom One Bath TH | 1BR,1BA | $824 |
| Madison Lofts | 1 Bedroom 1-ART Bathroom | 1BR,1BA | $830 |
| Thompson Village Apartments | One Bedroom Apartment | 1BR,1BA | $850 |
| Pine Glen | 1x1 Classic WL | 1BR,1BA | $870 |
| One Somerset | One Somerset - 1 Bed/1 Bath. Act Now! Get a $30... | 1BR,1BA | $875 |
| 522 Fletcher Ave | *ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ... | 1BR,1BA | $999 |
Best Value Apartments for Rent in South Village, IN
As of September 09, 2026 the best value apartment in the South Village area is the $0.89 price per square foot 1801 S Meridian St Model at 1801 S Meridian St, Unit 1801 in the in the Concord neighborhood starting from $1,250. The second greatest value South Village apartment is the 3BR Model at Garfield Parkside Townhomes starting at $708 with a $0.56 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1801 S Meridian St, Unit 1801 | 1801 S Meridian St | 3BR,1.5BA | $0.89 |
| Garfield Parkside Townhomes | 3BR | 3BR,2BA | $0.56 |
| 1158 Laurel St, Unit 1st Floor Apartment | 1158 Laurel St | 2BR,1BA | $1.00 |
| 755 E Perry St, Unit 755 E. Perry Street | 755 E Perry St | 2BR,1BA | $1.06 |
| 701 E Perry St, Unit 701 E. Perry Street | 701 E Perry St | 2BR,1BA | $1.06 |
| The Assumption on Blaine | 1 Bed 1 Bath | 1BR,1BA | $1.31 |
| 522 Fletcher Ave | *ONE FREE MONTH OF RENT* 522 Fletcher Ave - 1 ... | 1BR,1BA | $1.37 |
| Madison Lofts | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.44 |
| Thompson Village Apartments | One Bedroom Apartment | 1BR,1BA | $1.38 |
| Pine Glen | 1x1 Classic WL | 1BR,1BA | $1.43 |
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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Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleYour 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
Read ArticleReal 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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Pet Friendly LifestyleSouth Village, Indianapolis, IN
Ranked #89
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap South Village Apartments
What is a cheap apartment in South Village?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Village is under $999.
What is the price of a cheap apartment in South Village?
The cheapest apartment in South Village is Capital Place which is listed at $824, while the average apartment in South Village costs $1,380.
What types of apartments are the cheapest in South Village?
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 12 regular apartments in South Village 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 Village?
Cheap apartments in South Village have an average cost of $121 which is $1,259 cheaper than the average rent for all rentals in South Village.
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
Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Written by: Wendy Melton
Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.
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.
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.
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.
Articles, How-To's, and Tips
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.