Cheap Homes for Rent in Downtown Bloomington IN Neighborhood of Bloomington, IN from $700 (64 Rentals)

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Search the lowest-cost Homes 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.

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property at 2213 W Arlington Rd

$1,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,300
Total Monthly Price
$1,300

3 Bedroom, 1 Bath Home for Rent

Available Now

2213 W Arlington Rd

BloomingtonIN47404
property at 1350 S College Mall Rd

$1,375

Total Monthly Price

Total Monthly Price

Base Rent
$1,375
Total Monthly Price
$1,375

2 Bedroom, 1.5 Bath Condo for Rent

Available Now

1350 S College Mall Rd, Unit 1350

1350 S College Mall Rd
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.

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property at 1209 S Lincoln St

$1,499

Total Monthly Price

Total Monthly Price

Base Rent
$1,499
Total Monthly Price
$1,499

3 Bedroom, 2 Bath Home for Rent

Available Aug 17

1209 S Lincoln 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.

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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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property at 612 W Cherokee Dr

$1,700

Total Monthly Price

Total Monthly Price

Base Rent
$1,700
Total Monthly Price
$1,700

3 Bedroom, 1 Bath Home for Rent

Available Aug 1

612 W Cherokee Dr

BloomingtonIN47403

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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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 Bloomington 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 Living BloomingtonVivo Living - Petite StudioStudio,1BA$549
3 SquareBStudio,1BA$750
Woodington Management PropertiesStadium View II1BR,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

Best Value Apartments for Rent in Downtown Bloomington IN, IN

As of June 11, 2026 the best value apartment in the Downtown Bloomington IN area is the $0.74 price per square foot 3 Bedroom 3.5 Bath with Basement Model at Hoosier Court Apartments in the in the Downtown Bloomington IN neighborhood starting from $1,500. The second greatest value Downtown Bloomington IN apartment is the 3 Bedroom with a den Model at Stapleton starting at $1,875 with a $1.17 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.
Hoosier Court Apartments3 Bedroom 3.5 Bath with Basement3BR,3.5BA$0.74
Stapleton3 Bedroom with a den3BR,2.5BA$1.17
Nile Ridge Townhomes3 Bedroom Townhome3BR,3.5BA$1.24
StageyardThe Destination (per bed)2BR,2BA$1.28
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
Millennium Apartments1 Bed 1 Bath B1BR,1BA$1.25
The Crossing at Pete Ellis1 Bedroom1BR,1BA$1.32

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

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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 Downtown Bloomington IN

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

There are currently 318 Apartments for Rent in Downtown Bloomington IN, IN with pricing that ranges from $549 to $6,900. There are also 226 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Bloomington IN ranging from $700 to $14,000.

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 $700 to $14,000 with an average monthly rent of $3,572.

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 $835 to $3,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $4,620. Four Bedroom Single-Family rentals are also available starting from $1,645 and Four Bedroom Apartments start at $699.

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.

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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.

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.