Cheap Apartments for Rent in Evansville, IL from $400 (43 Rentals)

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Search the lowest-cost Apartments available for rent right now in Evansville.

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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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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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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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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Pevely Pointe
1 to 3 Bedroom Apartments

Pevely Pointe

1001 Pevely Pointe DrPevely, MO 63070
  • Utilities Included
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215 anderson lane A
1 to 2 Bedroom Apartments

215 anderson lane A

215-223 Anderson LnShiloh, IL 62221
  • Utilities Included

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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Evansville, IL Local Guide

Cheapest Available Evansville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Evansville, IL is a Studio unit found at Perryville Senior Apartments priced from $575. Brookside Apartments in the Sullivan Manors neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $730. Here is today’s list of the most affordable Evansville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Perryville Senior ApartmentsEfficiencyStudio,1BA$575
Brookside Apartments1 Bedroom Main Street1BR,1BA$730
24 North Rentals1 Bedroom Apartment- Miller Apartments1BR,1BA$750
Heisel Apartments & Townhouses1BR Apartments1BR,1BA$750
Telegraph CrossingOne Bedroom Standard1BR,1BA$800
Bouse Apartment Homes1 Bedroom 1 Bath1BR,1BA$845
500 E A St1 Bed, 1 bath1BR,1BA$895
722 Abend St1 Bed, 1 bath1BR,1BA$895
Ben Louis Apartments2 Beds, 1 bath2BR,1BA$925
Southfield Apartments1Bd/1Ba1BR,1BA$950

Best Value Apartments for Rent in Evansville, IL and Nearby

As of May 24, 2026 the best value apartment in the Evansville area is the $1.08 price per square foot Hayden B1 Model at Storyboard on Hayden in the in the Metro East neighborhood starting from $1,350. The second greatest value Evansville apartment is the 3A Model at Lakewood Apartments starting at $1,400 with a $1.24 price per square foot in the Regency Woods neighborhood. Here is today’s list of the best values for Evansville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Storyboard on HaydenHayden B12BR,2.5BA$1.08
Lakewood Apartments3A3BR,2BA$1.24
Linwood ApartmentsTwo Bed One Bath2BR,1BA$0.91
Reside Here Apartments & Rentals2BR/1.5BA2BR,1.5BA$1.18
Ben Louis Apartments2 Beds, 1 bath2BR,1BA$0.93
1400 Sangamon Dr2 Beds, 2 baths2BR,2BA$1.21
54 Ben Louis Dr2 Beds, 1 bath2BR,1BA$1.22
Black Forest ApartmentsTwo Bedroom2BR,1BA$1.25
Heisel Apartments & Townhouses1BR Apartments1BR,1BA$1.16
Brookside Apartments1 Bedroom Updated Main Street1BR,1BA$1.30

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Evansville Apartments

How much is rent for a Cheap One Bedroom Evansville Apartment?

The lowest price for a Cheap One Bedroom Evansville Apartment is $712 at Perryville Senior Apartments.

What is the lowest price for a Cheap Two Bedroom Evansville Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Evansville is starting from $850 at 24 North Rentals.

What is the most affordable Evansville Three Bedroom Apartment?

The best deal on a cheap Evansville Three Bedroom Apartment rental is at Lakewood Apartments and starts from $1,400.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.