Cheap Apartments for Rent in the Southport Neighborhood of Indianapolis, IN from $700 (30 Rentals)

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

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

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Windsor Court
1 to 2 Bedroom Apartments

Windsor Court

7302 Queen Anne CtIndianapolis, IN 46227
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South & Madison
Studio to 3 Bedroom Apartments

South & Madison

1819 Madison Village DrIndianapolis, IN 46227
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The Sterling
1 to 2 Bedroom Apartments

The Sterling

8020 Madison AveIndianapolis, IN 46227

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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Showing Results 1-30, Page 1 of 1

Southport, Indianapolis, IN Local Guide

Cheapest Available Southport Apartments for Rent

 

The cheapest available apartment rental in the Southport area of Indianapolis, IN is a Studio unit found at 5700 Madison Apartments & Edgewood on Madison priced from $740. Sherbrook has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here are the most affordable Southport apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
5700 Madison Apartments & Edgewood on MadisonEdgewood - CypressStudio,1BA$740
SherbrookStudioStudio,1BA$749
South & MadisonA11BR,1BA$830
Brookwood Apartments1 Bedroom 1 Bathroom1BR,1BA$847
Parc Bordeaux ApartmentsStudioStudio,1BA$850
Greentree Apartments1 Bedroom 1 Bathroom1BR,1BA$850
The SterlingThe Lexington1BR,1BA$875
Buckridge at Southport1BR/1.0BA1BR,1BA$895
SOUTHPORT AT BUCK CREEK1 Bedroom1BR,1BA$907
Berkley CommonsOne Bedroom One Bath1BR,1BA$925

Best Value Apartments for Rent in Southport, IN

As of March 14, 2026 the best value apartment in the Southport area is the $1.24 price per square foot 2 Bedroom 2.5 Bath Townhome Model at Coventry Park Village in the in the Southeast Indianapolis neighborhood starting from $1,650. The second greatest value Southport apartment is the 2 Bedroom 1.5 Bath Townhome Model at Mansfield Village Townhomes starting at $1,650 with a $1.24 price per square foot in the Winchester Village neighborhood. Here is today’s list of the best values for Southport apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Coventry Park Village2 Bedroom 2.5 Bath Townhome2BR,2.5BA$1.24
Mansfield Village Townhomes2 Bedroom 1.5 Bath Townhome2BR,1.5BA$1.24
Park Madison Apartments2x2 R-Prem2BR,2BA$1.13
Stonehedge ApartmentsThe Luna2BR,1BA$1.24
Oak ParkDale - Upgraded2BR,1BA$1.28
Brookwood Apartments2 Bedroom 1.5 Bath2BR,1.5BA$1.23
South & MadisonB22BR,1BA$1.19
Martinique Terrace1Bd/1Ba-Dn Mini W/D1BR,1BA$1.18
The SterlingThe Lexington1BR,1BA$1.18
Buckridge at Southport1BR/1.0BA1BR,1BA$1.24

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

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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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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
Southport, Indianapolis, IN

Ranked #42

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Southport Apartments

What is a cheap apartment in Southport?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southport is under $925.

What is the price of a cheap apartment in Southport?

The cheapest apartment in Southport is South & Madison which is listed at $830, while the average apartment in Southport costs $1,717.

What types of apartments are the cheapest in Southport?

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 46 regular apartments in Southport 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 Southport?

Cheap apartments in Southport have an average cost of $142 which is $1,575 cheaper than the average rent for all rentals in Southport.

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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Maximizing Your Refund: Essential Tax Tips for Renters

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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.