Cheap Apartments for Rent in the Downtown Montgomery Neighborhood of Dayton, OH from $300 (65 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Montgomery area of Dayton.

Dayton's Best Affordable Neighborhoods

Learn about Dayton and the best places to live with original content written by our Local Expert Kim Mooneyham

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property at 628 W Norman Ave

$795

Total Monthly Price

Total Monthly Price

Base Rent
$795
Total Monthly Price
$795

2 Bedroom, 1 Bath Townhome for Rent

Available Now

628 W Norman Ave

DaytonOH45406

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 466 Allwen Dr

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

2 Bedroom, 1 Bath Home for Rent

Available Now

466 Allwen Dr

DaytonOH45406

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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property at 2116 Wayne Ave

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

2 Bedroom, 1 Bath Home for Rent

Available Now

2116 Wayne Ave

DaytonOH45410
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Salemview Apartments
Studio to 1 Bedroom Apartments

Salemview Apartments

72 Central AveDayton, OH 45406
  • Utilities Included
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Omega Senior Lofts
1 to 2 Bedroom Apartments

Omega Senior Lofts

1461 Cornell DrDayton, OH 45406
Senior Living
  • Utilities Included

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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Downtown Montgomery, Dayton, OH Local Guide

Cheapest Available Downtown Montgomery Apartments for Rent

 

The cheapest available apartment rental in the Downtown Montgomery area of Dayton, OH is a 1 Bed unit found at Chamberlain I & II Apartments priced from $650. 320 Grafton has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here are the most affordable Downtown Montgomery apartments for rent in Dayton, OH:

Apartment ListingModel NameBed/BathPriced From
Chamberlain I & II ApartmentsS31BR,1BA$650
320 GraftonStudioStudio,1BA$700
Audubon Crossing1 Bedroom1BR,1BA$790
Riverstone ApartmentsConveniently located 1 BD 1 BA apartments! off ...1BR,1BA$795
Medford Apartments2 Bedroom2BR,1BA$800
Apartments at 310 Superior1 Bedroom 1 Bathroom1BR,1BA$875
1067 Salem Ave2 Beds, 1.5 Baths2BR,1BA$880

Best Value Apartments for Rent in Downtown Montgomery, OH

As of July 21, 2026 the best value apartment in the Downtown Montgomery area is the $0.93 price per square foot Two Bedroom Two Bathroom Model at Grafton House in the in the Downtown Dayton neighborhood starting from $1,674. The second greatest value Downtown Montgomery apartment is the 2 BD D,K,A,N Model at Rockwood Apartments starting at $1,025 with a $0.93 price per square foot in the Downtown Dayton neighborhood. Here is today’s list of the best values for Downtown Montgomery apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Grafton HouseTwo Bedroom Two Bathroom2BR,2BA$0.93
Rockwood Apartments2 BD D,K,A,N2BR,2BA$0.93
1067 Salem Ave2 Beds, 1.5 Baths2BR,1.5BA$0.80
The Flight2 Bed / 2 Bath2BR,2BA$0.91
108 E Norman Ave108 E Norman Ave2BR,1BA$0.99
Audubon Crossing2 Bedroom2BR,1BA$1.08
118 Linden Ave, Unit Lower118 Linden Ave1BR,1BA$0.94
Medford Apartments2 Bedroom2BR,1BA$1.00
341 Park Dr, Unit 341A Park Drive341 Park Dr1BR,1BA$1.20
1116 W Grand Ave1116 W Grand Ave1BR,1BA$0.82

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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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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Lifestyle Ratings

Our team compiles millions of data points to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States, including Dayton. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, transit availability, pet-friendly communities, apartment communities for the kids, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Montgomery Apartments

What is a cheap apartment in Downtown Montgomery?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Montgomery is under $880.

What is the price of a cheap apartment in Downtown Montgomery?

The cheapest apartment in Downtown Montgomery is Chamberlain I & II Apartments which is listed at $650, while the average apartment in Downtown Montgomery costs $4,200.

What types of apartments are the cheapest in Downtown Montgomery?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 15 regular apartments in Downtown Montgomery that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Montgomery?

Cheap apartments in Downtown Montgomery have an average cost of $2,104 which is $2,096 cheaper than the average rent for all rentals in Downtown Montgomery.

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 Learn About the Top Affordable Neighborhoods to Rent in Dayton, OH article

Learn About the Top Affordable Neighborhoods to Rent in Dayton, OH

Written by: Kim Mooneyham

Once an industrial powerhouse in southwest Ohio, Dayton is gradually changing from a strictly blue-collar city to a light blue-collar/white-collar city with education, tech, and urban development opportunities.

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.