Cheap Apartments for Rent in Covington, IN from $400 (64 Rentals)

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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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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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Covington, IN Local Guide

Cheapest Available Covington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Covington, IN is a Studio unit found at Brookhaven priced from $525. Brunswick Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $625. Here is today’s list of the most affordable Covington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
Brunswick ApartmentsStudioStudio,1BA$625
The Verander1Br1BR,1BA$732
The Grove1BR1BR,1BA$783
Townway Place1 Beds, 1 Baths1BR,1BA$850
Southridge CommonsS1Studio,1BA$895
Cloverdale Heights2 bedroom townhome2BR,1BA$900
Devonshire Village1 Bed 1 Bath1BR,1BA$900
Townhomes on Main3x2-50%3BR,2BA$927
Concord CrossingWEA CREEK I Apartment: SOLD OUT!1BR,1BA$950

Best Value Apartments for Rent in Covington, IN and Nearby

As of December 10, 2025 the best value apartment in the Covington area is the $1.28 price per square foot 3 BD/2 BA - POND VIEW Model at West Heights Townhomes - West Lafayette in the in the Discovery Park neighborhood starting from $2,162. The second greatest value Covington apartment is the Grand Model at Avalon Bluffs starting at $2,200 with a $1.39 price per square foot . Here is today’s list of the best values for Covington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
West Heights Townhomes - West Lafayette3 BD/2 BA - POND VIEW3BR,2.5BA$1.28
Avalon BluffsGrand3BR,2BA$1.39
Townhomes on Main3x2-80%3BR,2BA$0.81
52 Flats3 BD 1.5 BA Duplex3BR,1.5BA$1.15
Shadeland Estates(Clayton) Shadeland Estates New Large Homes 3bd...3BR,2BA$0.97
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
Cloverdale Heights2 bedroom townhome2BR,1.5BA$0.94
Candlelight EstatesLeasing NOW - Brand new 2bd/2bth homes located ...2BR,2BA$1.14
The Harbor at Southaven1BR/1BA1BR,1BA$1.40
The Grove2BR2BR,1BA$1.30

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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Best Local Schools in
Covington, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Covington, IN Rentals by Map

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Getting Around Covington, IN

Walk Score®

16 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

26 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Covington Apartments

What is the Cheapest Studio apartment in Covington?

Currently the most affordable Cheap Studio Apartment in Covington is at Brookhaven listed at $525.

How much is rent for a Cheap One Bedroom Covington Apartment?

The lowest price for a Cheap One Bedroom Covington Apartment is $650 at Brookhaven.

What is the lowest price for a Cheap Two Bedroom Covington Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Covington is starting from $725 at Brookhaven.

What is the most affordable Covington Three Bedroom Apartment?

The best deal on a cheap Covington Three Bedroom Apartment rental is at Townhomes on Main and starts from $927.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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.