Cheap Homes for Rent in Covington, IN from $500 (18 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

Cheap Homes in Covington.

property at 814 2nd St

814 2nd St

CovingtonIN47932
property at 1818 Michigan St

1818 Michigan St

CrawfordsvilleIN47933
property at 904 Sloan St

904 Sloan St

CrawfordsvilleIN47933

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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. CNC Leasing Group Various Lafayette Locations in the Downtown Lafayette neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $595. Here is today’s list of the most affordable Covington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
CNC Leasing Group Various Lafayette LocationsStudioStudio,1BA$595
Brunswick ApartmentsStudioStudio,1BA$625
Country Manor Apartments1BR/1.0BA1BR,1BA$649
The Grove1 Bed 1 Bath1BR,1BA$726

Best Value Apartments for Rent in Covington, IN and Nearby

As of May 02, 2025 the best value apartment in the Covington area is the $1.36 price per square foot Haydenwood Model at Redwood Lafayette in the starting from $1,824. The second greatest value Covington apartment is the 4x3 D Model at Hub on Campus West Lafayette starting at $1,395 with a $1.13 price per square foot in the Downtown Lafayette neighborhood. 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.
Redwood LafayetteHaydenwood2BR,2BA$1.36
Hub on Campus West Lafayette4x3 D4BR,3BA$1.13
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
Cloverdale HeightsStudio, 1 bathStudio ,1BA$1.00
Southridge CommonsB12BR,2BA$1.32
Cypress Square2 Bedroom. 1.5 Bath2BR,1.5BA$1.31
202 E Crockett2 Bedroom2BR,1BA$1.05
Country Manor Apartments1BR/1.0BA1BR,1BA$0.76
Georgetown South1 Bedroom1BR,1BA$1.19
The Grove1 Bed 1 Bath1BR,1BA$0.97

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

Frequently Asked Questions about Covington

What type of rentals are currently available in Covington?

There are currently 52 Apartments for Rent in Covington, IN with pricing that ranges from $525 to $3,121. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Covington ranging from $550 to $1,950.

What is the current price range for Rental Homes in Covington?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Covington ranges from $550 to $1,950 with an average monthly rent of $1,016.

How much are larger Three and Four Bedroom Rentals in Covington?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Covington range from $975 to $3,121, while Three Bedroom Homes, Condos, and Townhomes for rent range from $775 to $1,950. Four Bedroom Single-Family rentals are also available starting from $895 and Four Bedroom Apartments start at $1,109.

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.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

decorative image for Rise of Digital Nomads: Remote Work Tips for Apartment Renters article

Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords and Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.