Cheap Homes for Rent in Southern Homes Neighborhood of Indianapolis, IN from $300 (2 Rentals)

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Search the lowest-cost Homes available for rent right now in the Southern Homes area of Indianapolis.

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Best Value Apartments for Rent in Southern Homes, IN

As of April 08, 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/2Ba Up 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Aspen Lakes3Bed / 2Bath- Phase I3BR,2BA$1.14
Martinique Terrace3Bd/2Ba Up W/D3BR,2BA$1.15
South Haven Village Apartments3x2 R3BR,2BA$1.39
Dakota RidgeYellowstone2BR,2BA$1.21
Oak ParkTimber2BR,1BA$1.16
The SycamoresThe Spruce2BR,2BA$1.41
SOUTHPORT AT BUCK CREEK2 Bedroom2BR,1BA$1.24
Stonehedge ApartmentsThe Solis1BR,1BA$1.41
The SterlingThe Lexington1BR,1BA$1.28
Buckridge at Southport1BR/1.0BA1BR,1BA$1.24

Frequently Asked Questions about Southern Homes

What type of rentals are currently available in Southern Homes?

There are currently 42 Apartments for Rent in Southern Homes, IN with pricing that ranges from $795 to $4,209. There are also 17 Single Family Homes for rent, Condos, and Townhome rentals currently available in Southern Homes ranging from $320 to $2,170.

What is the current price range for Rental Homes in Southern Homes?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Southern Homes ranges from $320 to $2,170 with an average monthly rent of $1,507.

How much are larger Three and Four Bedroom Rentals in Southern Homes?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Southern Homes range from $1,425 to $4,209, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,540 to $2,140. Four Bedroom Single-Family rentals are also available starting from $1,965 and Four Bedroom Apartments start at $1,760.

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.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

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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

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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.

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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.

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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.