Cheap Apartments for Rent in Bloomington, IN from $300 (265 Rentals)

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

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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property at 339 S Lincoln St

$850 - $1,550

1 To 3 Bedroom Rentals

Available Now

339 S Lincoln St

BloomingtonIN47401
property at 303 E Smith Ave

$850 - $865

1 Bedroom Rentals

Available Aug 13

303 E Smith Ave

BloomingtonIN47401

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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property at 609 S Walnut St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

3 Bedroom, 3 Bath Home for Rent

Available Aug 1

609 S Walnut St

BloomingtonIN47401
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1317 N Kinser Pike, Unit B
$965
Total Monthly Price

Total Monthly Price

Base Rent
$965
Total Monthly Price
$965
1 Bedroom Apartment Available Aug 1

1317 N Kinser Pike, Unit B

1317 N Kinser PikeBloomington, IN 47404
Cost Per Sq.Ft.

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 348 S Grant St

$1,000 - $1,400

1 To 2 Bedroom Rentals

Available Aug 20

348 S Grant St

BloomingtonIN47401

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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Bloomington, IN Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Bloomington, IN

Pricing Updated: 07/15/2026

Current apartment rentals in the Bloomington, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Bloomington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Bloomington IN$4,000$599159

Cheapest Available Bloomington Apartments for Rent

 

The cheapest available apartment rental in Bloomington, IN is a Studio unit found at Vivo Living in the Downtown Bloomington IN neighborhood priced from $649. 501 N Walnut in the Downtown Bloomington IN neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $699. Here is today’s list of the most affordable Bloomington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vivo LivingVivo Living - Large StudioStudio,1BA$649
501 N Walnut501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat...4BR,3BA$699
Park North ApartmentsPark North Renovated - 240SF - AVAILABLE NOW!Studio,1BA$750
3 SquareJStudio,1BA$750
Hub Bloomington4x2 Pod4BR,2BA$799
Northcrest1 Bedroom1BR,1BA$800
Basswood Apartments1 Bedroom 1 Bathroom1BR,1BA$825
323 S. Grant St.Redwood Apartments - Walk to Class! - 1 Bed/1 B...1BR,1BA$849
Park RidgePark Ridge - 1 Bedroom - Waived Admin Fees & $3...1BR,1BA$849
Town and Country0 Beds, 1 BathsStudio,1BA$850

Best Value Apartments for Rent in Bloomington, IN

As of July 15, 2026 the best value apartment in the Bloomington area is the $0.76 price per square foot The Blake Model at Regency Court Apartments in the in the Downtown Bloomington IN neighborhood starting from $1,525. The second greatest value Bloomington apartment is the 501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat... Model at 501 N Walnut starting at $699 with a $0.38 price per square foot in the Downtown Bloomington IN neighborhood. Here is today’s list of the best values for Bloomington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Regency Court ApartmentsThe Blake3BR,3.5BA$0.76
501 N Walnut501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat...4BR,3BA$0.38
Stapleton3 Bedroom with a den3BR,2.5BA$1.17
Hoosier Court Apartments3 Bedroom 3 Bath on Amaryllis3BR,3BA$0.97
The Park on Morton3x3 Balcony - Classic3BR,3BA$0.66
Hickory GroveMagnolia3BR,1BA$0.96
The EllisThe Ellis - 3 Bed/3 Bath - Per Bed Pricing! - L...3BR,3BA$0.64
Aspen BloomingtonFrisco A 2x22BR,2BA$1.13
The MonroeB22BR,2BA$1.02
Summit PointeThe Evergreen1BR,1BA$1.22

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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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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Bloomington Overview

Home to unviersities, plenty of natural scenery and a welcoming, cheerful ambiance all its own, Bloomington is a premium slice of mid-western real estate that is in demand and well worthy of your consideration. Designated as a 'Tree City USA', this botanical hot spot is a gem of the Indiana scene.

Why live in Bloomington, IN?

Harkening back to a quaint, old-time quality of mid-western life, Bloomington rentals make an ideal option for anyone eager to discover all that Indiana has in store. From impressive floral beauty to much in the way of nightlife and shopping, this relaxed cityscape is the perfect place to attend school or raise a family.

Best Local Schools in
Bloomington, IN

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

Explore Bloomington, IN Rentals by Map

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See the most popular apartments and homes in Bloomington, IN

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Frequently Asked Questions about Cheap Bloomington Apartments

What is a cheap apartment in Bloomington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Bloomington is under $850.

What is the price of a cheap apartment in Bloomington?

The cheapest apartment in Bloomington is Northcrest which is listed at $800, while the average apartment in Bloomington costs $4,000.

What types of apartments are the cheapest in Bloomington?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 55 regular apartments in Bloomington that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Bloomington?

Cheap apartments in Bloomington have an average cost of $823 which is $3,177 cheaper than the average rent for all rentals in Bloomington.

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

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.

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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.