Cheap Apartments for Rent in Evansville, IN from $400 (168 Rentals)

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

property at 931 SE 8th St

$650

1 Bedroom Rentals

Available Now

931 SE 8th St

EvansvilleIN47713

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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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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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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Evansville, IN Local Guide

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Cheapest Neighborhoods for Apartments in Evansville, IN

Pricing Updated: 07/30/2026

Current apartment rentals in the Evansville, IN area range in price from $547 to $4,449 with an overall median price of $1,728. The three Evansville neighborhoods with the lowest median rent pricing are Diamond Stringtown at $600, Jeannette at $547, and West Evansville at $580. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Evansville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Diamond Stringtown$1,092$60061
Jeannette$1,329$54774
West Evansville$1,344$580192
Poplar Grove$1,459$59549
Hoosier Cullen$1,475$547100
Lant Manor$1,475$54789
Rolling Greens$1,475$54799
Evansville West Side$1,550$58059
Hilltop$1,550$59560
Outer West$1,550$58083

Cheapest Available Evansville Apartments for Rent

 

The cheapest available apartment rental in Evansville, IN is a 1 Bed unit found at Embassy Apartments in the Lincoln-Bellemeade neighborhood priced from $547. SPRING VALLEY FLATS in the Oakhill neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $599. Here is today’s list of the most affordable Evansville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Embassy Apartments1.11BR,1BA$547
SPRING VALLEY FLATSThe Redbud1BR,1BA$599
Anchor Court1BR/1.0BA1BR,1BA$625
Fairway Plaza1 Bedroom1BR,1BA$640
1210 Char Lee Dr1bed1bath1BR,1BA$660
Heathmoore - Evansville1 Bed 1 Bath1BR,1BA$670
Valoré at Hidden HillsThe Dogwood - One Bedroom Apartment Home1BR,1BA$675
Princeton Court1 Bed 1 Bath1BR,1BA$700
Shannon GlennMcConnell2BR,1BA$710
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Classic2BR,1BA$725

Best Value Apartments for Rent in Evansville, IN

As of July 30, 2026 the best value apartment in the Evansville area is the $1.04 price per square foot 2BR/2.0BA Model at Sunset Tower in the in the ACT neighborhood starting from $1,300. The second greatest value Evansville apartment is the 4BR/2BA - Furnished Model at Eagle Village - Historical Access starting at $565 with a $0.47 price per square foot in the Evansville West Side 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.
Sunset Tower2BR/2.0BA2BR,2BA$1.04
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
2015 N Weinbach Ave, Unit 2A2015 N Weinbach Ave2BR,2BA$1.04
Ross Center Village2BR/1.0BA2BR,1BA$0.83
Indian WoodsThe Oak2BR,1BA$1.00
North ParkBerkshire2BR,1.5BA$1.05
Devonshire Gardens I & II1 Bed 1 Bath C1BR,1BA$1.03
Abbey Court ApartmentsLiverpool1BR,1BA$1.09
1210 Char Lee Dr1bed1bath1BR,1BA$0.88
Fairway Plaza1 Bedroom1BR,1BA$0.91

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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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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Evansville Overview

Evansville, Indiana is one of the most unique and culturally diverse cities on the map. Located along the Ohio River, this port town is a commercial and cultural hub, serving neighboring states for over 80 years. Boasting a population of just under 120,000 people, Evansville has everything a large city could offer, without losing that small town feel. Plenty of options in affordable Evansville apartments available to locals makes this a popular midwest destination.

Why live in Evansville, IN?

Whether you’re in the mood for jazz, rock, hip-hop, or news/talk, there is always something on the airwaves to please your ears. Courier & Press, part of the USA Today network, is the official newspaper and is always there to serve your local and national news needs.

Best Local Schools in
Evansville, IN

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

Explore Evansville, IN Rentals by Map

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Evansville, IN Area Reviews

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Frequently Asked Questions about Cheap Evansville Apartments

What is a cheap apartment in Evansville?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Evansville is under $725.

What is the price of a cheap apartment in Evansville?

The cheapest apartment in Evansville is Embassy Apartments which is listed at $547, while the average apartment in Evansville costs $1,728.

What types of apartments are the cheapest in Evansville?

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 281 regular apartments in Evansville 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 Evansville?

Cheap apartments in Evansville have an average cost of $298 which is $1,430 cheaper than the average rent for all rentals in Evansville.

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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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.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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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.