Cheap Homes for Rent in Downtown Bloomington IN Neighborhood of Bloomington, IN from $500 (90 Rentals)

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

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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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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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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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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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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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. Lofton has the second lowest priced unit, which is a 1 Bed apartment currently listed from $749. 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
LoftonLofton - Individual Lease/ Roommate Matching - ...1BR,2BA$749
Canadian Apartments1BR/1.0BA1BR,1BA$750
3 SquareHStudio,1BA$750
CedargateStudio StandardStudio,1BA$800
Continental Terrace2 Bedroom, 1 Bath2BR,1BA$860
Northcrest1 Bedroom1BR,1BA$860
Kingston ManorEfficiencyStudio,1BA$875
Sassafras ApartmentsSASSAFRAS APARTMENTS - AVAILABLE AUGUST 20261BR,1BA$890
Sassafras Hill ApartmentsThe Miller2BR,1BA$915

Best Value Apartments for Rent in Downtown Bloomington IN, IN

As of October 24, 2025 the best value apartment in the Downtown Bloomington IN area is the $0.91 price per square foot Three Bedroom Townhome Model at Nile Ridge Townhomes in the in the Downtown Bloomington IN neighborhood starting from $1,400. The second greatest value Downtown Bloomington IN apartment is the 3 Bedroom 3 Bath on Amaryllis Model at Hoosier Court Apartments starting at $1,400 with a $0.97 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.
Nile Ridge TownhomesThree Bedroom Townhome3BR,3.5BA$0.91
Hoosier Court Apartments3 Bedroom 3 Bath on Amaryllis3BR,3BA$0.97
Park on Morton3x3 Balcony - Platinum3BR,3BA$0.98
Beacon HillBeacon Hill - 3 Bed/2 Bath - Remodeled3BR,2BA$1.06
Hickory GroveMagnolia3BR,1BA$0.96
Sassafras Hill ApartmentsThe Miller2BR,1.5BA$0.83
The League Bloomington10 North 2x2 Penthouse2BR,2BA$0.99
The Stratum at Indiana2x22BR,2BA$0.92
The MonroeB22BR,2BA$1.15
Continental Terrace2 Bedroom, 1 Bath2BR,1BA$1.16

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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Pet Friendly Lifestyle
Downtown Bloomington In, Bloomington, IN

Ranked #1

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Downtown Bloomington In, Bloomington, IN

School data provided by Great Schools

Frequently Asked Questions about Downtown Bloomington IN

What type of rentals are currently available in Downtown Bloomington IN?

There are currently 341 Apartments for Rent in Downtown Bloomington IN, IN with pricing that ranges from $549 to $15,000. There are also 326 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Bloomington IN ranging from $585 to $31,000.

What is the current price range for Rental Homes in Downtown Bloomington IN?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Bloomington IN ranges from $585 to $31,000 with an average monthly rent of $4,172.

How much are larger Three and Four Bedroom Rentals in Downtown Bloomington IN?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Bloomington IN range from $750 to $7,042, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,050 to $5,550. Four Bedroom Single-Family rentals are also available starting from $1,500 and Four Bedroom Apartments start at $739.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.