Cheap Apartments for Rent in Albany, IN from $300 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in Albany.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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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The Orchard
Studio to 3 Bedroom Apartments

The Orchard

720 W Centennial AveMuncie, IN 47303
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Labor Center Lofts
1 Bedroom Apartments

Labor Center Lofts

1125 S Walnut StMuncie, IN 47302
Corporate Housing
  • Utilities Included
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Hoosier Woods
1 to 4 Bedroom Apartments

Hoosier Woods

3833 Hoosier Woods CtAnderson, IN 46013

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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Showing Results 1-29, Page 1 of 1

Albany, IN Local Guide

Cheapest Available Albany Apartments for Rent and Nearby

 

The cheapest available apartment rental in Albany, IN is a 4 Beds unit found at University Village in the Westacres neighborhood priced from $514. The Haven in the Westacres neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $565. Here is today’s list of the most affordable Albany apartments for rent:

Apartment ListingModel NameBed/BathPriced From
University Village4BD/2BA Furnished Premium4BR,2BA$514
The Haven4x44BR,4BA$565
ApplegateStudio Open - 288 sqftStudio,1BA$610
Flats at West EndLuxury You Can Afford: Renovated 1BR Downtown |...1BR,1BA$690
The Alan1A 50%1BR,1BA$712
Forest Oaks Apartments1 Bed 1 Bath (Down)1BR,1BA$850
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$850
715 E Race St*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$850
424 Lofts1 bedroom1BR,1BA$875
Colonial Crest ApartmentsUnfurnished Studio1BR,1BA$900

Best Value Apartments for Rent in Albany, IN and Nearby

As of June 13, 2026 the best value apartment in the Albany area is the $0.89 price per square foot Prime FHB Model at Golden Pebble Estates in the starting from $1,399. The second greatest value Albany apartment is the 4BD/2BA Furnished Premium Model at University Village starting at $514 with a $0.39 price per square foot in the Westacres neighborhood. Here is today’s list of the best values for Albany apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Golden Pebble EstatesPrime FHB3BR,2BA$0.89
University Village4BD/2BA Furnished Premium4BR,2BA$0.39
Freedom Acres MHCPulse 76163BR,2BA$0.94
Hoosier Woods2X2 60%2BR,2BA$1.13
The Latitude Apartments2x2 Upgrade2BR,2BA$1.20
424 Lofts1 bedroom1BR,1BA$1.09
Silvertree CommunitiesSilvertree 2bd2BR,1BA$0.70
715 E Race St*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$1.11
*Newly Renovated* Premium Style 2-4 BD Apartment Home2 Beds, 1 bath2BR,1BA$0.94
Flats at West End1BR/1.0BA1BR,1BA$1.15

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Albany, IN Rentals by Map

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Frequently Asked Questions about Cheap Albany Apartments

How much is rent for a Cheap One Bedroom Albany Apartment?

The lowest price for a Cheap One Bedroom Albany Apartment is $690 at Flats at West End.

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

Today's best deal for a Cheap Two Bedroom Apartment in Albany is starting from $720 at The Haven.

What is the most affordable Albany Three Bedroom Apartment?

The best deal on a cheap Albany Three Bedroom Apartment rental is at The Haven and starts from $575.

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.

Articles, How-To's, and Tips

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.