Cheap Apartments for Rent in the Downtown Bloomington IN Neighborhood of Bloomington, IN from $300 (215 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Read Article
property at 339 S Lincoln St

$850 - $1,550

1 To 3 Bedroom Rentals

Available Now

339 S Lincoln St

BloomingtonIN47401

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.

Read Article
property at 1503 S Walnut St

$885 - $1,125

1 Bedroom Rentals

Available Aug 3

1503 S Walnut St

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.

Read Article
property at 348 S Grant St

$1,000 - $1,400

1 Bedroom Rentals

Available Aug 20

348 S Grant St

BloomingtonIN47401

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.

Read Article
property at 314 W 16th St

$1,100 - $1,500

2 To 3 Bedroom Rentals

Available Jul 30

314 W 16th St

BloomingtonIN47404

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.

Read Article
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 $549. 3 Square has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable Downtown Bloomington IN apartments for rent in Bloomington, IN:

Apartment ListingModel NameBed/BathPriced From
Vivo LivingVivo Living - Petite StudioStudio,1BA$549
3 SquareBStudio,1BA$750
Park North ApartmentsPark North Renovated - 240SF - AVAILABLE NOW!Studio,1BA$750
Hub Bloomington4x2 Pod4BR,2BA$799
Northcrest1 Bedroom1BR,1BA$800
Town and Country0 Beds, 1 BathsStudio,1BA$850
Continental Terrace2 Bedroom, 1 Bath2BR,1BA$860
Kingston ManorEfficiencyStudio,1BA$875
Summit PointeWoodland1BR,1BA$875
Sassafras ApartmentsSASSAFRAS APARTMENTS - AVAILABLE AUGUST 20261BR,1BA$890

Best Value Apartments for Rent in Downtown Bloomington IN, IN

As of June 13, 2026 the best value apartment in the Downtown Bloomington IN area is the $1.17 price per square foot 3 Bedroom with a den Model at Stapleton in the in the Downtown Bloomington IN neighborhood starting from $1,875. The second greatest value Downtown Bloomington IN apartment is the 3 Bedroom Model at Crescent Park starting at $1,650 with a $1.10 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.
Stapleton3 Bedroom with a den3BR,2.5BA$1.17
Crescent Park3 Bedroom3BR,2BA$1.10
Hoosier Court Apartments3 Bedroom 3 Bath on Amaryllis3BR,3BA$0.97
StageyardThe Destination (per bed)2BR,2BA$1.28
Sassafras Hill ApartmentsThe Miller2BR,1.5BA$0.93
Aspen BloomingtonFrisco A 2x22BR,2BA$1.13
The Quarters BloomingtonD2 - 2x22BR,2BA$1.15
The MonroeB22BR,2BA$1.15
Summit PointeThe Evergreen1BR,1BA$1.22
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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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 $890.

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 $4,000.

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 68 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 $684 which is $3,316 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 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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.