Cheap Apartments for Rent in Anderson, IN from $300 (56 Rentals)

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

property at 924 W 5th St

$600

1 Bedroom Rentals

Available Now

924 W 5th St

AndersonIN46016

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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property at 830 E 7th St

$750

Total Monthly Price

Total Monthly Price

Base Rent
$750
Total Monthly Price
$750

2 Bedroom, 1 Bath Townhome for Rent

Available Now

830 E 7th St

AndersonIN46012

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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property at 509 Ruddle Ave

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

2 Bedroom, 1 Bath Townhome for Rent

Available Now

509 Ruddle Ave

AndersonIN46012

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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property at 2904 Lincoln St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 1 Bath Home for Rent

Available Now

2904 Lincoln St

AndersonIN46016
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Central Schools
1 to 2 Bedroom Apartments

Central Schools

2120 Central AveAnderson, IN 46016
Senior Living
  • Utilities Included
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Parq on 8th Apartments
Studio to 3 Bedroom Apartments

Parq on 8th Apartments

1829 E 8th StAnderson, IN 46012
  • Utilities Included
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The Mint
1 to 2 Bedroom Apartments

The Mint

2505 E 10th StAnderson, IN 46012
  • Utilities Included

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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Bingham Square
1 to 3 Bedroom Apartments

Bingham Square

2725 W 16th StAnderson, IN 46011
  • Utilities Included
property at 21 W 8th St

$700

Studio Rentals

Available Now

21 W 8th St

AndersonIN46016
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Hickory Knoll Apartments
1 to 2 Bedroom Apartments

Hickory Knoll Apartments

1603 E 53rd StAnderson, IN 46013
Senior Living
  • Utilities Included
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Deerfield Run
2 to 4 Bedroom Apartments

Deerfield Run

2986 E Deerfield Run BlvdAnderson, IN 46017
  • Utilities Included
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Giant Oaks Apartments
1 to 2 Bedroom Apartments

Giant Oaks Apartments

1312 W 8th StAnderson, IN 46016
  • Utilities Included

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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Anderson, IN Local Guide

Cheapest Available Anderson Apartments for Rent

 

The cheapest available apartment rental in Anderson, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior priced from $250. Longfellow Plaza Affordable Senior Community has the second lowest priced unit, which is a Studio apartment currently listed from $790. Here is today’s list of the most affordable Anderson apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790
Hoosier Woods3X2 HOME3BR,2BA$803

Best Value Apartments for Rent in Anderson, IN

As of April 12, 2026 the best value apartment in the Anderson area is the $0.92 price per square foot Townhouse Model at Sun Valley Townhomes in the starting from $1,300. The second greatest value Anderson apartment is the Three Bedroom Model at Madison Lakes starting at $1,300 with a $1.08 price per square foot . Here is today’s list of the best values for Anderson apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sun Valley TownhomesTownhouse3BR,2.5BA$0.92
Madison LakesThree Bedroom3BR,1.5BA$1.08
202 W 3rd St, Unit 1202 W 3rd St3BR,1BA$0.75
Hoosier Woods2X2 60%2BR,2BA$1.22
919 Walnut St, Unit B919 Walnut St1BR,1BA$0.69
ApplecreekThe Golden2BR,1BA$1.16
Courtyard Village Apartments628-C2BR,1BA$1.30
Cedar Ridge TownhomesThe Pine1BR,1BA$1.29
2208 Hendricks St, Unit 32208 Hendricks St1BR,1BA$1.15
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 Anderson, IN Rentals by Map

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See the most popular apartments and homes in Anderson, IN

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Frequently Asked Questions about Cheap Anderson Apartments

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

The lowest price for a Cheap One Bedroom Anderson Apartment is $250 at The Towers at Southdale Affordable Senior.

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

Today's best deal for a Cheap Two Bedroom Apartment in Anderson is starting from $935 at Sun Valley Townhomes.

What is the most affordable Anderson Three Bedroom Apartment?

The best deal on a cheap Anderson Three Bedroom Apartment rental is at Hoosier Woods and starts from $803.

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

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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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.