2826 S Pennsylvania St
IndianapolisIN46225
Cheap Homes for Rent in South Village Neighborhood of Indianapolis, IN from $700 (3 Rentals)
Search the lowest-cost Homes available for rent right now in the South Village area of Indianapolis.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
528 E Raymond St
IndianapolisIN46203
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
2231 Union St
IndianapolisIN46225
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South Village, Indianapolis, IN Local Guide
How much does it cost to rent a home in South Village?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Village 2 Bedroom Homes for Rent | $1,525 | $1,350 | $1,700 |
| South Village 3 Bedroom Homes for Rent | $1,678 | $1,200 | $2,200 |
| South Village 5 Bedroom Homes for Rent | $2,400 | $2,400 | $2,400 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 3 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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Best Value Apartments for Rent in South Village, IN
As of June 19, 2026 the best value apartment in the South Village area is the $1.10 price per square foot Two Bedroom 1.5 Bath Model at Fox Club in the in the Shelby Street-Epler Avenue neighborhood starting from $1,100. The second greatest value South Village apartment is the 2BR/1.0BA Model at Emhardt Apartments starting at $1,195 with a $1.26 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. |
|---|---|---|---|
| Fox Club | Two Bedroom 1.5 Bath | 2BR,1.5BA | $1.10 |
| Emhardt Apartments | 2BR/1.0BA | 2BR,1BA | $1.26 |
| The Assumption on Blaine | 1 Bed 1 Bath | 1BR,1BA | $1.31 |
| Pine Glen | Oak Renovated | 2BR,1BA | $1.40 |
| Capital Place | One Bedroom One Bath TH | 1BR,1BA | $1.39 |
| Dawson Village | 2 BR/1 BA - FLATS | 2BR,1BA | $1.28 |
| City Heights | 1 x 1 | 1BR,1BA | $1.44 |
| Madison Lofts | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.44 |
| Garfield Park Village | 2/1 Renovated | 2BR,1BA | $1.61 |
| Thompson Village Apartments | One Bedroom Apartment | 1BR,1BA | $1.38 |
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.
Read Article
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
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.
Read ArticleQuick 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.
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Pet Friendly LifestyleSouth Village, Indianapolis, IN
Ranked #70
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about South Village
What type of rentals are currently available in South Village?
There are currently 40 Apartments for Rent in South Village, IN with pricing that ranges from $649 to $11,911. There are also 15 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Village ranging from $725 to $2,400.
What is the current price range for Rental Homes in South Village?
Today's rental pricing for Homes for Rent, Condos and Townhomes in South Village ranges from $725 to $2,400 with an average monthly rent of $1,415.
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
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.
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.
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.
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.
Articles, How-To's, and Tips
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.