Cheap Apartments for Rent near Albany, IN from $300 (44 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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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Harter House
Studio to 1 Bedroom Apartments

Harter House

600 Main StAnderson, IN 46016
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The Orchard
Studio to 3 Bedroom Apartments

The Orchard

720 W Centennial AveMuncie, IN 47303
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Hoosier Woods
1 to 4 Bedroom Apartments

Hoosier Woods

3833 Hoosier Woods CtAnderson, IN 46013

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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Fox Brook Apartments
1 to 3 Bedroom Apartments

Fox Brook Apartments

4000 N Walnut StMuncie, IN 47303
  • Utilities Included
Showing Results 1-44, 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 2 Beds unit found at The Lofts at Roberts in the School neighborhood priced from $416. Muncie Varsity House in the Westacres neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $569. Here is today’s list of the most affordable Albany apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Lofts at RobertsThe Liberty2BR,1BA$416
Muncie Varsity House3 Bed, 3 Bath Plus3BR,3BA$569
Labor Center Lofts1BR/1.0BA1BR,1BA$660
ApplegateOne Bed 1 Bath Standard1BR,1BA$835
Forest Oaks Apartments1 Bed 1 Bath (Down)1BR,1BA$850
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$850
Eaton Residence*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$850
The Alan1A-HC 60%2BR,1BA$870
Hoosier Woods2X2 50%2BR,2BA$872
424 Lofts1 bedroom1BR,1BA$875

Best Value Apartments for Rent in Albany, IN and Nearby

As of July 28, 2026 the best value apartment in the Albany area is the $1.01 price per square foot Blazer 76 4A Model at Crestwood MHC in the in the Henry County neighborhood starting from $1,224. The second greatest value Albany apartment is the Pulse 7616 Model at Freedom Acres MHC starting at $1,139 with a $0.94 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.
Crestwood MHCBlazer 76 4A4BR,2BA$1.01
Freedom Acres MHCPulse 76163BR,2BA$0.94
Labor Center Lofts2BR/1.0BA2BR,1BA$0.88
Delaware AcresHarborview 663BR,2BA$0.99
Silvertree CommunitiesLinden Place3BR,2BA$0.81
The Lofts at RobertsThe Liberty2BR,1BA$0.42
Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.67
424 Lofts1 bedroom1BR,1BA$1.09
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

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

Explore Albany, IN Rentals by Map

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See the most popular apartments and homes in Albany, IN

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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 $660 at Labor Center Lofts.

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 $416 at The Lofts at Roberts.

What is the most affordable Albany Three Bedroom Apartment?

The best deal on a cheap Albany Three Bedroom Apartment rental is at Muncie Varsity House and starts from $569.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.