Cheap Apartments for Rent in the Southeast Indianapolis Neighborhood of Indianapolis, IN from $400 (112 Rentals)

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

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Southeast Indianapolis, Indianapolis, IN Local Guide

Cheapest Available Southeast Indianapolis Apartments for Rent

 

The cheapest available apartment rental in the Southeast Indianapolis area of Indianapolis, IN is a Studio unit found at Olivewood priced from $699. Serenity Manor 55+ Independent Active Living has the second lowest priced unit, which is a Studio apartment currently listed from $715. Here are the most affordable Southeast Indianapolis apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
OlivewoodStudioStudio,1BA$699
Serenity Manor 55+ Independent Active LivingStudioStudio,1BA$715
Spanish OaksStudioStudio,1BA$725
Autumn Trails ApartmentsThe MapleStudio,1BA$749
StonehengeStudioStudio,1BA$749
Serenity Park ApartmentsSerenity Park - Cozy, Convenient, and Priced Ri...1BR,1BA$769
The Aerie on 11th Street2 Bedroom 1 Bath - 331792BR,1BA$775
Heathmoore - IndianapolisStudio 1 BathStudio,1BA$775
Frederick SquareFrederick Square 1 bedroom1BR,1BA$780
Indy Town ApartmentsGreenway 1 bedroom1BR,1BA$795

Best Value Apartments for Rent in Southeast Indianapolis, IN

As of January 11, 2026 the best value apartment in the Southeast Indianapolis area is the $0.81 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,050. The second greatest value Southeast Indianapolis apartment is the The Estate - Two Bedroom 1.5 Bath Model at Paragon Park starting at $1,199 with a $0.98 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Southeast Indianapolis apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Terrace Townhomes w/Full Basements2 BR / 1.5 BA2BR,1.5BA$0.81
Paragon ParkThe Estate - Two Bedroom 1.5 Bath2BR,1.5BA$0.98
7302 East Washington Street, Unit A7302 East Washington StreetStudio ,1.5BA$1.04
Brookhaven Apartments2 Bed 1 Bath2BR,1BA$0.91
The Vistas Apartment Homes2x1,5 Townhome Classic2BR,1.5BA$1.10
Beech Tree Glen Apartments2x1R2BR,1BA$1.11
The Aerie on 11th Street2 Bedroom 1 Bath - 203492BR,1BA$0.87
Lawrence LandingOne Bedroom1BR,1BA$1.10
Bristol Square1 Bedroom Loft1BR,1.5BA$1.06
Frederick SquareFrederick Square 1 bedroom1BR,1BA$1.11

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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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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.

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Pet Friendly Lifestyle
Southeast Indianapolis, Indianapolis, IN

Ranked #28

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Southeast Indianapolis, Indianapolis, IN

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Southeast Indianapolis, Indianapolis, and the greater Indianapolis area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, kid and pet-friendly communities, availability of transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Southeast Indianapolis Apartments

What is a cheap apartment in Southeast Indianapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southeast Indianapolis is under $795.

What is the price of a cheap apartment in Southeast Indianapolis?

The cheapest apartment in Southeast Indianapolis is Serenity Park Apartments which is listed at $769, while the average apartment in Southeast Indianapolis costs $1,687.

What types of apartments are the cheapest in Southeast Indianapolis?

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 54 regular apartments in Southeast Indianapolis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Southeast Indianapolis?

Cheap apartments in Southeast Indianapolis have an average cost of $333 which is $1,354 cheaper than the average rent for all rentals in Southeast Indianapolis.

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

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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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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.

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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.

Articles, How-To's, and Tips

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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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!