Cheap Apartments for Rent in the Downtown Montgomery Neighborhood of Dayton, OH from $300 (57 Rentals)

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

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property at 1736 E 3rd St

1736 E 3rd St

DaytonOH45403

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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Salemview Apartments
Studio to 1 Bedroom Apartments

Salemview Apartments

72 Central AveDayton, OH 45406
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Twin Towers Place
Studio to 2 Bedroom Apartments

Twin Towers Place

250 Allen StDayton, OH 45410
Senior Living
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Omega Senior Lofts
1 to 2 Bedroom Apartments

Omega Senior Lofts

1461 Cornell DrDayton, OH 45406
Senior Living
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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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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 Studio unit found at Chamberlain I & II Apartments priced from $650. Rockwood Apartments 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 ApartmentsS3Studio,1BA$650
Rockwood ApartmentsStudio C, LStudio,1BA$700
320 Grafton Ave1 Bedroom1BR,1BA$750
Executive House1 Bedroom standard1BR,1BA$775
Audubon Crossing1 Bedroom1BR,1BA$790
Riverstone ApartmentsConveniently located 1 BD 1 BA apartments! off ...1BR,1BA$795
Flyer Pointe1 Bedroom Medium Renovated1BR,1BA$819

Best Value Apartments for Rent in Downtown Montgomery, OH

As of November 03, 2025 the best value apartment in the Downtown Montgomery area is the $0.89 price per square foot Two Bedroom Two Bathroom Model at Grafton House in the in the Downtown Dayton neighborhood starting from $1,600. The second greatest value Downtown Montgomery apartment is the 4 Bed / 4 Bath Model at The Flight starting at $940 with a $0.57 price per square foot in the McPherson 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$0.89
The Flight4 Bed / 4 Bath4BR,4BA$0.57
The Livery1x11BR,1BA$0.99
86 Vine St, Unit 8686 Vine St2BR,1BA$0.90
Audubon Crossing2 Bedroom2BR,1BA$1.08
1328 St Adalbert Ave, Unit 31328 St Adalbert Ave2BR,1BA$1.08
547 Wyoming St, Unit 547547 Wyoming St1BR,1BA$0.93
603 Rockford Ave, Unit 1603 Rockford Ave1BR,1BA$0.80
Art Lofts at the Arcade1 Bedroom Tax Credit***1BR,1BA$1.28
Riverstone ApartmentsConveniently located 1 BD 1 BA apartments! off ...1BR,1BA$1.20

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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

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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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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 $819.

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 $714, while the average apartment in Downtown Montgomery costs $1,624.

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 11 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 $798 which is $826 cheaper than the average rent for all rentals in Downtown Montgomery.

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.

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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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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.