Cheap Apartments for Rent in the South Village Neighborhood of Indianapolis, IN from $500 (18 Rentals)

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

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Garfield Place
2 Bedroom Apartments

Garfield Place

2236 Ransdell StIndianapolis, IN 46225
  • Utilities Included
Showing Results 1-18, Page 1 of 1

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 Studio unit found at Country Club Apartments priced from $699. Madison Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $830. Here are the most affordable South Village apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Country Club ApartmentsStudioStudio,1BA$699
Madison Lofts1x1 583sf1BR,1BA$830
Pine GlenTwo Bedroom One Bath2BR,1BA$950
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$955
City Heights1A1BR,1BA$1,000

Best Value Apartments for Rent in South Village, IN

As of June 26, 2025 the best value apartment in the South Village area is the $1.85 price per square foot K Model at Five Twenty Virginia in the in the Wholesale District neighborhood starting from $1,879. The second greatest value South Village apartment is the Two Bedroom Two Bath Model at Fox Club starting at $1,125 with a $1.13 price per square foot in the Shelby Street-Epler Avenue 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.
Five Twenty VirginiaK2BR,1BA$1.85
Fox ClubTwo Bedroom Two Bath2BR,2BA$1.13
Pine GlenTwo Bedroom One Bath2BR,1BA$1.00
One Somerset Apartments2 Bedroom 1 Bathroom2BR,1BA$1.48
Welcome to Dawson Village – Welcome Home!Brand New Double2BR,1BA$1.71
City Heights1A1BR,1BA$1.44
Hanna VillageCamden1BR,1BA$1.64
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$1.55
Country Club ApartmentsStudioStudio ,1BA$1.56
135 Bixler Rd, Unit Studio Apartment135 Bixler RdStudio ,1BA$1.50

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Pet Friendly Lifestyle
South Village, Indianapolis, IN

Ranked #103

Among neighborhoods in Indianapolis, IN for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Getting Around the South Village Neighborhood in Indianapolis, IN

Walk Score®

48 / 100

Car-Dependent

Most errands require a car

Bike Score®

47 / 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 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 $1,099.

What is the price of a cheap apartment in South Village?

The cheapest apartment in South Village is Madison Lofts which is listed at $830, while the average apartment in South Village costs $10,390.

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 4 regular apartments in South Village that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

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

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.