Cheap Apartments for Rent in the Downtown Bloomington IN Neighborhood of Bloomington, IN from $300 (205 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Bloomington IN area of Bloomington.

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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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
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

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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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 1-50, Page 1 of 5

Downtown Bloomington IN, Bloomington, IN Local Guide

Cheapest Available Downtown Bloomington IN Apartments for Rent

 

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

Apartment ListingModel NameBed/BathPriced From
Vivo LivingVivo Living - Large StudioStudio,1BA$649
501 N Walnut St501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat...4BR,3BA$699
Park North ApartmentsPark North Renovated - 240SF - AVAILABLE NOW!Studio,1BA$750
3 SquareBStudio,1BA$750
Northcrest1 Bedroom1BR,1BA$800
323 S Grant STRedwood Apartments - Walk to Class! - 1 Bed/1 B...1BR,1BA$849
Summit PointeWoodland1BR,1BA$850
Town and Country0 Beds, 1 BathsStudio,1BA$850
Union at Crescent1 Bed 1 Bath1BR,1BA$866
Kingston ManorEfficiencyStudio,1BA$875

Best Value Apartments for Rent in Downtown Bloomington IN, IN

As of July 29, 2026 the best value apartment in the Downtown Bloomington IN 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 Downtown Bloomington IN apartment is the 501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat... Model at 501 N Walnut St 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 Downtown Bloomington IN apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Regency Court ApartmentsThe Blake3BR,3.5BA$0.76
501 N Walnut St501 N. Walnut - Luxury Apartments - 4 Bed/3 Bat...4BR,3BA$0.38
Hoosier Court Apartments3 Bedroom 3 Bath on Amaryllis3BR,3BA$0.97
StageyardThe Destination (per bed)2BR,2BA$1.28
The EllisThe Ellis - 3 Bed/3 Bath - Per Bed Pricing! - L...3BR,3BA$0.59
Hidden Hills at Oakdale2 Bedroom2BR,1BA$1.32
Summit PointeSummit2BR,2BA$1.26
Aspen BloomingtonFrisco A 2x22BR,2BA$1.13
The Crossing at Pete Ellis1 Bedroom1BR,1BA$1.32
Union at Crescent1 Bed 1 Bath1BR,1BA$1.28

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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Best Local Schools in
Downtown Bloomington In, Bloomington, IN

School data provided by Great Schools

Frequently Asked Questions about Cheap Downtown Bloomington IN Apartments

What is a cheap apartment in Downtown Bloomington IN?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Bloomington IN is under $875.

What is the price of a cheap apartment in Downtown Bloomington IN?

The cheapest apartment in Downtown Bloomington IN is Northcrest which is listed at $800, while the average apartment in Downtown Bloomington IN costs $1,534.

What types of apartments are the cheapest in Downtown Bloomington IN?

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 47 regular apartments in Downtown Bloomington IN 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 Downtown Bloomington IN?

Cheap apartments in Downtown Bloomington IN have an average cost of $824 which is $710 cheaper than the average rent for all rentals in Downtown Bloomington IN.

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.

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

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

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.