Cheap Apartments for Rent in the South Village Neighborhood of Indianapolis, IN from $500 (19 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 1-19, 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 Garfield Park Village priced from $764. Welcome to Dawson Village – Welcome Home! has the second lowest priced unit, which is a 2 Beds apartment currently listed from $899. Here are the most affordable South Village apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Garfield Park Village1/1 Vintage1BR,1BA$764
Welcome to Dawson Village – Welcome Home!2 BR/1 BA - FLATS2BR,1BA$899
Fox ClubOne Bedroom One Bath1BR,1BA$915
Pine GlenCedar Renovated1BR,1BA$945
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$967

Best Value Apartments for Rent in South Village, IN

As of October 09, 2025 the best value apartment in the South Village area is the $1.35 price per square foot 2 Bed 2 Bath Model at The Assumption on Blaine in the in the Concord neighborhood starting from $1,775. The second greatest value South Village apartment is the 2 Bed 1.5 Bath Model at Fountain Square Townhomes starting at $1,619 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.
The Assumption on Blaine2 Bed 2 Bath2BR,2BA$1.35
Fountain Square Townhomes2 Bed 1.5 Bath2BR,1.5BA$1.35
Fox ClubTwo Bedroom 1.5 Bath2BR,1.5BA$1.23
919 Division St919 Division St2BR,1BA$1.33
Capital PlaceTwo Bedroom One Bath2BR,1BA$1.38
One Somerset Apartments2 Bedroom 1 Bathroom2BR,1BA$1.39
Welcome to Dawson Village – Welcome Home!Brand New Double2BR,1BA$1.56
Thompson Village ApartmentsOne Bedroom Apartment1BR,1BA$1.57
Pine GlenCedar Renovated1BR,1BA$1.55
1309 Woodlawn Ave, Unit Historical District1309 Woodlawn Ave1BR,1BA$1.54

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Pet Friendly Lifestyle
South Village, Indianapolis, IN

Ranked #86

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

Pet Friendliness Lifestyle Score

3.5
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 $1,030.

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

The cheapest apartment in South Village is Garfield Park Village which is listed at $764, while the average apartment in South Village costs $7,864.

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 18 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.

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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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.