Cheap Apartments for Rent in the South Village Neighborhood of Indianapolis, IN from $500 (32 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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One Somerset
Rent Specials
$775 - $995
Total Monthly Price

Total Monthly Price

Base Rent
$775 - $995
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

One Somerset

3761 S State AveIndianapolis, IN 46227
Student Housing
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539 Fletcher Ave
$1,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,400
Total Monthly Price
$1,400
1 Bedroom Apartment Available Now

539 Fletcher Ave

539 Fletcher AveIndianapolis, IN 46203
Affordability

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Garfield Place
2 Bedroom Apartments

Garfield Place

2236 Ransdell StIndianapolis, IN 46225
  • Utilities Included

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Showing Results 1-32, 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 1 Bed unit found at Volrath priced from $649. Garfield Park Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $712. 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
Garfield Park Village1/1 Vintage1BR,1BA$712
One Somerset*ACT NOW- Price Drop* One Somerset - 1 Bed/1 Ba...2BR,1BA$775
Pine GlenMaple Vintage1BR,1BA$799
Madison LoftsThe Artisan Flat 1x11BR,1BA$830
Capital PlaceOne Bedroom One Bath TH1BR,1BA$884
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$928
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - Partial Remodeled Flat2BR,1BA$945
Edge 35S1Studio,1BA$1,022
Fox ClubTwo Bedroom 1.5 Bath2BR,1BA$1,090

Best Value Apartments for Rent in South Village, IN

As of April 26, 2026 the best value apartment in the South Village area is the $1.29 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 $2,200. The second greatest value South Village apartment is the 2 Bed 2 Bath Model at The Assumption on Blaine starting at $1,395 with a $1.20 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$1.29
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.20
Fox ClubTwo Bedroom Two Bath2BR,2BA$1.10
Pine GlenOak Renovated2BR,1BA$1.40
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - Partial Remodeled Flat2BR,1BA$1.35
Lofts on MadisonStudioStudio ,1BA$1.63
Capital PlaceOne Bedroom One Bath1BR,1BA$1.43
Madison LoftsThe Flat 1x11BR,1BA$1.44
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$1.51
Volrath1BR/1.0BA1BR,1BA$1.46

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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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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 Lifestyle
South Village, Indianapolis, IN

Ranked #75

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

Pet Friendliness Lifestyle Score

4.0
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 Garfield Park Village listed at $749.

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 Capital Place and starts from $1,399.

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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