Cheap Apartments for Rent in Covington, IN from $400 (34 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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2204 Alpha Dr
1 Bedroom Apartments

2204 Alpha Dr

2204 Alpha DrDanville, IL 61832

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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2803 S. Beck Lane
Studio to 1 Bedroom Apartments

2803 S. Beck Lane

2803-2807 Beck LnLafayette, IN 47909
  • Utilities Included
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The Vintage
Studio Apartments

The Vintage

230 S Grant StWest Lafayette, IN 47906
Student Housing

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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Georgetown South
1 to 2 Bedroom Apartments

Georgetown South

1855 Shoshone DrLafayette, IN 47909
  • Utilities Included
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202 E Crockett
2 Bedroom Apartments

202 E Crockett

202 Crockett StCatlin, IL 61817
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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. The Verander has the second lowest priced unit, which is a 1 Bed apartment currently listed from $732. Here is today’s list of the most affordable Covington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
The Verander1Br1BR,1BA$732
The Grove1BR1BR,1BA$783
Townway Place1 Beds, 1 Baths1BR,1BA$795
Southridge CommonsS1Studio,1BA$895
Georgetown South1 Bedroom1BR,1BA$900
Townhomes on Main3x2-50%3BR,2BA$927
Devonshire Village1 Bed 1 Bath1BR,1BA$949
Winfield Farms - Garages Available1 Bedroom1BR,1BA$975
231 Flats2 Bedroom 2 Bath*Per Lease Price2BR,2BA$999

Best Value Apartments for Rent in Covington, IN and Nearby

As of March 11, 2026 the best value apartment in the Covington area is the $1.30 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 $2,195. The second greatest value Covington apartment is the 3x2-80% Model at Townhomes on Main starting at $1,205 with a $0.81 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$1.30
Townhomes on Main3x2-80%3BR,2BA$0.81
Candlelight EstatesLeasing NOW - 2025 Brand new 3bd/2bth homes3BR,2BA$1.06
VERVE West Lafayette4BD/4BA - D24BR,4BA$1.20
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
52 Flats2 BD/1 BA Duplex2BR,1BA$1.29
Cypress SquareB12BR,1BA$1.33
Georgetown South2 Bedroom2BR,1BA$1.31
The Grove2BR2BR,1BA$1.30
Townway Place1 Beds, 1 Baths1BR,1BA$1.33

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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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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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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See the most popular apartments and homes in Covington, IN

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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 $717 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 $800 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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.