Cheap Apartments for Rent in Albany, IN from $340 (46 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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Labor Center Lofts
$880 - $1,190

Total Monthly Price

Base Rent$880 - $1,190
Total Monthly Price$880 - $1,190
1 to 2 Bedroom Apartments Available Now

Labor Center Lofts

1125 S Walnut StMuncie, IN 47302
Eco-Friendly
  • Verified
  • Utilities Included
  • 3D Tour

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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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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424 Lofts
1 to 2 Bedroom Apartments

424 Lofts

424 S Monroe StMuncie, IN 47305
Corporate Housing
  • Utilities Included

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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Crestwood MHC
2 to 4 Bedroom Apartments

Crestwood MHC

27 Crestwood DrMiddletown, IN 47356
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Fox Brook Apartments
1 to 3 Bedroom Apartments

Fox Brook Apartments

4000 N Walnut StMuncie, IN 47303
  • Utilities Included
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Delaware Acres
2 to 3 Bedroom Apartments

Delaware Acres

9901 N State Road 3Muncie, IN 47303

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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Showing Results 1-46, 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. 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
The Lofts at RobertsThe Liberty2BR,1BA$416
The Haven4x44BR,4BA$565
Muncie Varsity House3 Bed, 3 Bath Plus3BR,3BA$569
Arrasmith ApartmentsArrasmith, in Downtown Muncie Live a Little More!1BR,1BA$810
City View Townhomes2 Bedroom Townhome2BR,1BA$838
Forest Oaks Apartments1 Bed 1 Bath (Down)1BR,1BA$850
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$850
The Alan1A-HC 60%2BR,1BA$870
Labor Center Lofts1BR/1.0BA1BR,1BA$880
Harter HouseSofia1BR,1BA$895

Best Value Apartments for Rent in Albany, IN and Nearby

As of September 12, 2026 the best value apartment in the Albany area is the $0.84 price per square foot 3 Bedroom Townhome Model at Come home to Granton Place today! in the starting from $1,125. The second greatest value Albany apartment is the 2BD + Den/2BA Unfurnished Premium Model at University Village starting at $779 with a $0.60 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.
Come home to Granton Place today!3 Bedroom Townhome3BR,1.5BA$0.84
University Village2BD + Den/2BA Unfurnished Premium2BR,2BA$0.60
City View Townhomes3 bedroom Townhouse3BR,1.5BA$1.02
Silvertree CommunitiesLinden Place3BR,2BA$0.41
The Lofts at RobertsThe Liberty2BR,1BA$0.42
Hoosier Woods2X2 60%2BR,2BA$1.04
The Latitude Apartments2x2 Upgrade2BR,2BA$1.17
Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.67
Labor Center Lofts1BR/1.0BA1BR,1BA$1.13
*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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Navigating the Rental Market: Tips for First-Time Renters

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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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 $810 at Arrasmith Apartments.

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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.