Cheap Apartments for Rent in the Downtown Montgomery Neighborhood of Dayton, OH from $300 (68 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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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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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. 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 ApartmentsS3Studio,1BA$650
320 GraftonStudioStudio,1BA$700
Rockwood ApartmentsStudio C, LStudio,1BA$700
Flyer Pointe1 Bedroom - Medium1BR,1BA$739
Executive House1 Bedroom standard1BR,1BA$775
Audubon Crossing1 Bedroom1BR,1BA$790
Riverstone ApartmentsConveniently located 1 BD 1 BA apartments! off ...1BR,1BA$795
Medford Apartments2 Bedroom2BR,1BA$800

Best Value Apartments for Rent in Downtown Montgomery, OH

As of December 19, 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 1x1 Model at The Livery starting at $1,000 with a $0.99 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$0.89
The Livery1x11BR,1BA$0.99
108 E Norman Ave, Unit 3108 E Norman Ave2BR,1BA$0.93
SWA - 2308 Wayne Ave.2BR/1.0BA2BR,1BA$0.95
1328 St Adalbert Ave, Unit 31328 St Adalbert Ave2BR,1BA$1.08
Audubon Crossing1 Bedroom1BR,1BA$0.91
Medford Apartments2 Bedroom2BR,1BA$1.00
118 Linden Ave, Unit Lower118 Linden Ave1BR,1BA$1.14
Riverstone ApartmentsConveniently located 1 BD 1 BA apartments! off ...1BR,1BA$1.20
2112 Catalpa Dr, Unit 22112 Catalpa Dr1BR,1BA$1.00

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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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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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 $800.

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 $718, while the average apartment in Downtown Montgomery costs $1,622.

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 $806 which is $816 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

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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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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!