Cheap Apartments for Rent in the South Perry Neighborhood of Indianapolis, IN from $400 (18 Rentals)

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

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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Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Windsor Court
1 to 2 Bedroom Apartments

Windsor Court

7302 Queen Anne CtIndianapolis, IN 46227
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Encore Apartments
Studio to 1 Bedroom Apartments

Encore Apartments

8035 Preidt PlIndianapolis, IN 46237
  • Utilities Included

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Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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South & Madison
Studio to 3 Bedroom Apartments

South & Madison

1819 Madison Village DrIndianapolis, IN 46227
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Crestwood Village South
Studio to 2 Bedroom Apartments

Crestwood Village South

8809 Madison AveIndianapolis, IN 46227
Senior Living
  • Utilities Included
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Fountain Lake Villas
Studio to 3 Bedroom Apartments

Fountain Lake Villas

2220 E Stop 13 RdIndianapolis, IN 46227

South Perry - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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Grand Oaks
1 to 2 Bedroom Apartments

Grand Oaks

7215 Grand Ritz LnIndianapolis, IN 46237
  • Utilities Included

South Perry, Indianapolis, IN Local Guide

Cheapest Available South Perry Apartments for Rent

 

The cheapest available apartment rental in the South Perry area of Indianapolis, IN is a 1 Bed unit found at Buckridge at Southport priced from $800. South & Madison has the second lowest priced unit, which is a Studio apartment currently listed from $840. Here are the most affordable South Perry apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Buckridge at Southport1BR/1.0BA1BR,1BA$800
South & MadisonE1Studio,1BA$840
Windsor CourtDeluxe One Bedroom (AN)1BR,1BA$840
Brookwood ApartmentsEvergreen Two1BR,1BA$850
The SycamoresA1 The Sycamores 1/11BR,1BA$950

Best Value Apartments for Rent in South Perry, IN

As of May 12, 2025 the best value apartment in the South Perry area is the $1.11 price per square foot Rosewood Model at Auburn Place Apartments in the in the Tracy Commons neighborhood starting from $1,617. The second greatest value South Perry apartment is the 2 Bedroom Townhome Model at SOUTHPORT AT BUCK CREEK starting at $1,199 with a $0.86 price per square foot in the Thompson-Edgewood neighborhood. Here is today’s list of the best values for South Perry apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Auburn Place ApartmentsRosewood3BR,1.5BA$1.11
SOUTHPORT AT BUCK CREEK2 Bedroom Townhome2BR,1.5BA$0.86
Sundance ApartmentsThe Grand With Balcony 2 BR 2 BA2BR,2BA$1.36
South Haven Village Apartments2x1.5 TH2BR,1.5BA$1.22
The SycamoresB2 The Spruce 2/22BR,2BA$1.38
Berkley CommonsTwo Bedroom 1.5 Bath TH2BR,1.5BA$1.27
Oak ParkForest1BR,1BA$1.12
The SterlingThe Lexington1BR,1BA$1.32
Buckridge at Southport1BR/1.0BA1BR,1BA$1.11
Windsor CourtDeluxe One Bedroom (AN)1BR,1BA$1.37

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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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for South Indianapolis. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the South Perry Neighborhood in Indianapolis, IN

Walk Score®

56 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

26 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap South Perry Apartments

What is the Cheapest Studio apartment in South Perry?

Currently the most affordable Cheap Studio Apartment in South Perry is at South & Madison listed at $840.

How much is rent for a Cheap One Bedroom South Perry Apartment?

The lowest price for a Cheap One Bedroom South Perry Apartment is $800 at Buckridge at Southport.

What is the lowest price for a Cheap Two Bedroom South Perry Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in South Perry is starting from $985 at Windsor Court.

What is the most affordable South Perry Three Bedroom Apartment?

The best deal on a cheap South Perry Three Bedroom Apartment rental is at Brookwood Apartments and starts from $1,372.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.