Cheap Apartments for Rent in the Downtown Bloomington IN Neighborhood of Bloomington, IN from $312 (211 Rentals)

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

property at 808 S Washington St
$775 - $850
1 Bedroom Rentals
Available Jan 7, 2027
Affordability

808 S Washington St

BloomingtonIN47401

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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property at 1513 S Walnut St
$885 - $1,400
1 To 3 Bedroom Rentals
Available Jan 4, 2027
Affordability

1513 S Walnut 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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property at 1503 S Walnut St
$910 - $1,125
1 To 2 Bedroom Rentals
Available Jul 30, 2027
Affordability

1503 S Walnut St

BloomingtonIN47401
property at 351 S Lincoln St
$815 - $1,000
1 Bedroom Rentals
Available Now
Affordability

351 S Lincoln 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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property at 1214 N Grant St
$1,050
2 Bedroom Rentals
Available Aug 1, 2027
Affordability

1214 N Grant St

BloomingtonIN47408
property at 1122 E Miller Dr
$1,075

Total Monthly Price

Base Rent$1,075
Total Monthly Price$1,075
2 Bedroom, 1 Bath Condo for Rent
Available Now
Cost Per Sq.Ft.

1122 E Miller Dr, Unit 1122 E Miller Dr

1122 E Miller Dr
BloomingtonIN47401

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 1427 S Washington St
$1,200 - $1,600
2 Bedroom Rentals
Available Aug 1, 2027
Affordability

1427 S Washington St

BloomingtonIN47401
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7 Ten
$1,225 - $2,060

Total Monthly Price

Base Rent$1,225 - $2,060
Total Monthly Price$1,225 - $2,060
1 to 2 Bedroom Apartments Available Soon

7 Ten

710 N College AveBloomington, IN 47404
Student Housing
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  • Utilities Included
  • 3D Tour

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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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 Park North Apartments priced from $690. Vivo Living has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable Downtown Bloomington IN apartments for rent in Bloomington, IN:

Apartment ListingModel NameBed/BathPriced From
Park North ApartmentsPARK NORTH STUDIO APARTMENTS - AVAILABLE SEPTEM...Studio,1BA$690
Vivo LivingVivo Living - Studio - Unit 203Studio,1BA$699
501 N Walnut St501 N. Walnut - Luxury Apartments - 4 Bed/3 Bath!4BR,3BA$699
LoftonLofton - Individual Lease - 2bed/2bath1BR,2BA$749
3 SquareBStudio,1BA$750
728 West Dixie - Lemongrass1BR/1.0BA1BR,1BA$800
Northcrest1 Bedroom1BR,1BA$800
Sunflower Place - Full Unit for RentOne Bed1BR,1BA$830
Summit PointeWoodland1BR,1BA$850
Town and Country0 Beds, 1 BathsStudio,1BA$850

Best Value Apartments for Rent in Downtown Bloomington IN, IN

As of September 12, 2026 the best value apartment in the Downtown Bloomington IN area is the $0.38 price per square foot 501 N. Walnut - Luxury Apartments - 4 Bed/3 Bath! Model at 501 N Walnut St in the in the Downtown Bloomington IN neighborhood starting from $699. The second greatest value Downtown Bloomington IN apartment is the 3 Bedroom Model at Crescent Park Apartments starting at $1,300 with a $0.87 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.
501 N Walnut St501 N. Walnut - Luxury Apartments - 4 Bed/3 Bath!4BR,3BA$0.38
Crescent Park Apartments3 Bedroom3BR,2BA$0.87
Urban StationThe Pulse II (per bed)2BR,2BA$0.65
College Mall ApartmentsD3BR,1BA$1.07
Regency Court ApartmentsThe Bryon2BR,2.5BA$0.84
Big Red Apartments3 Bed 1 Bath3BR,1BA$1.08
Bart Villa Apartments3 bed / 1 bath3BR,1BA$1.06
The Stratum at Indiana2x22BR,2BA$0.86
The MonroeB22BR,2BA$1.02
Continental Terrace2 Bedroom, 1 Bath2BR,1BA$1.16

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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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 $850.

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

The cheapest apartment in Downtown Bloomington IN is Lofton which is listed at $749, while the average apartment in Downtown Bloomington IN costs $1,350.

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 159 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 $737 which is $613 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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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

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.

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

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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.