
Cheap Apartments for Rent in the South Village Neighborhood of Indianapolis, IN from $500 (6 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Village area of Indianapolis.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
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Brookwood Apartments
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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!

2179 S Delaware St

2826 S Pennsylvania St
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 | $1,470 | $699 | $3,223 |
South Village 1 Bedroom Apartments | $1,788 | $749 | $4,249 |
South Village 2 Bedroom Apartments | $1,989 | $945 | $3,328 |
South Village 3 Bedroom Apartments | $2,755 | $1,262 | $8,833 |
Browse Apartments in this Neighborhood
There are currently 6 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 Studio unit found at Country Club Apartments priced from $699. Brookwood Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable South Village apartments for rent in Indianapolis, IN:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Country Club Apartments | Studio | Studio,1BA | $699 |
Brookwood Apartments | Evergreen Two | 1BR,1BA | $850 |
Gathyr Apartments | Bates | Studio,1BA | $1,199 |
Best Value Apartments for Rent in South Village, IN
As of May 11, 2025 the best value apartment in the South Village area is the $1.06 price per square foot 1 Bedroom 1 Bath Model at The Block in the in the Riley neighborhood starting from $1,539. The second greatest value South Village apartment is the Sycamore Two Model at Brookwood Apartments starting at $1,372 with a $1.39 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. |
---|---|---|---|
The Block | 1 Bedroom 1 Bath | 1BR,1BA | $1.06 |
Brookwood Apartments | Sycamore Two | 3BR,1.5BA | $1.39 |
Bluff Crossing Apartments | 1BR | 1BR,1BA | $1.97 |
CityWay | Henry | 1BR,1BA | $2.84 |
Artistry Indy | Gala | 1BR,1BA | $2.47 |
Pinnex | S1 | Studio ,1BA | $2.37 |
Gathyr Apartments | Beville | Studio ,1BA | $2.44 |
Residence on Penn | 0BR/1.0BA | Studio ,1BA | $2.41 |
Country Club Apartments | Studio | Studio ,1BA | $1.56 |
Rise on Meridian | The Amelia | Studio ,1BA | $3.03 |
Quick Rent Budget Calculator
How much rent can you afford?
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.
Pet Friendly LifestyleSouth Village, Indianapolis, IN
Ranked #114
Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Getting Around the South Village Neighborhood in Indianapolis, IN
Walk Score®
48 / 100
Car-Dependent
Most errands require a car
Bike Score®
46 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
27 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 Country Club Apartments listed at $699.
How much is rent for a Cheap One Bedroom South Village Apartment?
The lowest price for a Cheap One Bedroom South Village Apartment is $850 at Brookwood Apartments.
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 $945 at Country Club Apartments.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

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