
Cheap Apartments for Rent in the Southern Homes Neighborhood of Indianapolis, IN from $500 (30 Rentals)
Search the lowest-cost Apartments available for rent right now in the Southern Homes area of Indianapolis.


Total Monthly Price
Buckridge at Southport

Meridian Court South

SOUTHPORT AT BUCK CREEK

Beechmill Apartments

Waterford Place Apartments

Martinique Terrace
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.

The Sycamores

Murphy's Landing

Total Monthly Price
Creek Bay

Oak Park

Aspen Lakes

Community Place

The Jacob
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.

Estate View

Windsor Court

South & Madison

Fountain Lake Villas

The Sterling

Brookhaven at County Line Senior Apartments

Buffalo Creek Apartments
Indy's Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home
Find your dream job and perfect neighborhood in Indy. Discover major companies and the best places to live for young professionals and families, from historic districts to quiet, upscale communities.

Dakota Ridge

Polo Run Apartments

Westminster Apartments and Townhomes

Auburn Place

Breeza 32 Apartments

634 Wooddale Terrace

Stonehedge Apartments
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.

Meridian Oaks

Bayshore Apartments
Southern Homes, Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Southern Homes?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Southern Homes Studio Apartments | $1,118 | $800 | $1,325 |
| Southern Homes 1 Bedroom Apartments | $1,085 | $865 | $1,650 |
| Southern Homes 2 Bedroom Apartments | $1,243 | $950 | $1,899 |
| Southern Homes 3 Bedroom Apartments | $1,688 | $1,425 | $4,064 |
| Southern Homes 4 Bedroom Apartments | $1,760 | $1,760 | $1,760 |
Browse Apartments in this Neighborhood
There are currently 30 rentals with your search options within a 2 mile radius of the Southern Homes Neighborhood of Indianapolis, IN.
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Southern Homes, Indianapolis, IN Local Guide
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Cheapest Available Southern Homes Apartments for Rent
 The cheapest available apartment rental in the Southern Homes area of Indianapolis, IN is a 1 Bed unit found at Windsor Court priced from $796. South & Madison has the second lowest priced unit, which is a Studio apartment currently listed from $809. Here are the most affordable Southern Homes apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Windsor Court | Standard One Bedroom (SN2) | 1BR,1BA | $796 |
| South & Madison | E2 | Studio,1BA | $809 |
| Buckridge at Southport | 1BR/1.0BA | 1BR,1BA | $895 |
| SOUTHPORT AT BUCK CREEK | 1 Bedroom | 1BR,1BA | $905 |
| Westminster Apartments and Townhomes | Broderick | 1BR,1BA | $915 |
| The Sterling | The Remington | 2BR,1BA | $950 |
| Polo Run Apartments | The Thoroughbred 2 BR 1 BA | 2BR,1BA | $950 |
| Auburn Place | 2 Bedroom 1 Bath | 2BR,1BA | $956 |
| Beechmill Apartments | Beech | 1BR,1BA | $985 |
| Waterford Place Apartments | The Limerick | 1BR,1BA | $995 |
Best Value Apartments for Rent in Southern Homes, IN
As of April 06, 2026 the best value apartment in the Southern Homes area is the $1.14 price per square foot 3Bed / 2Bath- Phase I Model at Aspen Lakes in the in the Southern Homes neighborhood starting from $1,725. The second greatest value Southern Homes apartment is the 3Bd/1.5Ba Dn W/D Model at Martinique Terrace starting at $1,499 with a $1.15 price per square foot in the Winchester Village neighborhood. Here is today’s list of the best values for Southern Homes apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Aspen Lakes | 3Bed / 2Bath- Phase I | 3BR,2BA | $1.14 |
| Martinique Terrace | 3Bd/1.5Ba Dn W/D | 3BR,1.5BA | $1.15 |
| South Haven Village Apartments | 3x2 R | 3BR,2BA | $1.39 |
| Dakota Ridge | Yellowstone | 2BR,2BA | $1.23 |
| Oak Park | Timber | 2BR,1BA | $1.16 |
| The Sycamores | The Spruce | 2BR,2BA | $1.41 |
| Auburn Place | 2 Bedroom 1 Bath | 2BR,1BA | $1.00 |
| The Sterling | The Lexington | 1BR,1BA | $1.28 |
| Buckridge at Southport | 1BR/1.0BA | 1BR,1BA | $1.24 |
| SOUTHPORT AT BUCK CREEK | 1 Bedroom | 1BR,1BA | $1.35 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon'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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
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Read ArticleCash 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.
Read ArticleYour 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 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.
Lifestyle Ratings
Our team of engineers and researchers is happy to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Southern Homes, Indianapolis, and the greater Indianapolis area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for easy access to the parks, luxury housing options, places that make kids happy, raising pets, transit options, and more. Find Lifestyle Search in the filter options (above). Happy Searching!
Frequently Asked Questions about Cheap Southern Homes Apartments
What is the Cheapest Studio apartment in Southern Homes?
Currently the most affordable Cheap Studio Apartment in Southern Homes is at South & Madison listed at $809.
How much is rent for a Cheap One Bedroom Southern Homes Apartment?
The lowest price for a Cheap One Bedroom Southern Homes Apartment is $796 at Windsor Court.
What is the lowest price for a Cheap Two Bedroom Southern Homes Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Southern Homes is starting from $950 at Polo Run Apartments.
What is the most affordable Southern Homes Three Bedroom Apartment?
The best deal on a cheap Southern Homes Three Bedroom Apartment rental is at Dakota Ridge and starts from $1,400.
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

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

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.

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.