Cheap Apartments for Rent in Evansville, IN from $400 (95 Rentals)

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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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property at 101 SE 2nd St

101 SE 2nd St

EvansvilleIN47708

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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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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Evansville, IN Local Guide

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Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Evansville, IN

Pricing Updated: 12/15/2025

Current apartment rentals in the Evansville, IN area range in price from $565 to $4,399 with an overall median price of $1,636. The three Evansville neighborhoods with the lowest median rent pricing are Willemette at $599, ACT at $685, and Dexter at $565. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Evansville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Willemette$1,270$59946
ACT$1,325$68547
Dexter$1,325$56578
Eastview$1,325$56562
Gum Bayard Park Chandler$1,325$56573
Jeannette$1,325$56573
Kathleen Jeannette$1,325$56558
Lincoln-Bellemeade$1,325$62562
Lincoln Park$1,325$62565
Lorraine Park$1,325$56565

Cheapest Available Evansville Apartments for Rent

 

The cheapest available apartment rental in Evansville, IN is a 1 Bed unit found at SPRING VALLEY FLATS in the Oakhill neighborhood priced from $599. Lakewood Flats and Townhomes in the Howell neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $670. Here is today’s list of the most affordable Evansville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
SPRING VALLEY FLATSThe Redbud1BR,1BA$599
Lakewood Flats and Townhomes2 small wd2BR,1BA$670
Shady Tree ApartmentsThe AshStudio,1BA$675
Embassy Apartments0.1Studio,1BA$685
WedgewoodTwo Bedroom2BR,1BA$715
Devonshire Gardens I & IIII 1 Bed 1 Bath A1BR,1BA$725
Valoré at Hidden HillsThe Pine - One Bedroom Apartment Home1BR,1BA$725
Princeton Court1 Bed 1 Bath1BR,1BA$725
Heathmoore - Evansville1 Bed 1 Bath1BR,1BA$740
The Timbers ApartmentsThe Oak 1 BR 1 BA1BR,1BA$779

Best Value Apartments for Rent in Evansville, IN

As of December 15, 2025 the best value apartment in the Evansville area is the $1.03 price per square foot 3BR/2.0BA Model at Sunset Tower in the in the ACT neighborhood starting from $1,600. The second greatest value Evansville apartment is the Two Bedroom Model at Wedgewood starting at $715 with a $0.60 price per square foot in the Lincoln-Bellemeade 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 Tower3BR/2.0BA3BR,2BA$1.03
WedgewoodTwo Bedroom2BR,1.5BA$0.60
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
Hornbrook Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.04
Indian WoodsThe Oak2BR,1BA$1.10
The Brickyard ApartmentsKeystone1BR,1BA$1.16
Naveen Pine ApartmentsCozy Two Bedroom Apartment Home2BR,1BA$1.12
Mission Viejo VillasB- Barcelona1BR,1BA$1.16
Abbey Court ApartmentsLiverpool1BR,1BA$1.11
North ParkMcCallister1BR,1BA$1.10

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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.

Evansville, IN
Population: 117,963

Ranked #242

in US Census Population by City

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Best Local Schools in
Evansville, IN

School data provided by Great Schools

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

Explore Evansville, IN Rentals by Map

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See the most popular apartments and homes in Evansville, IN

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Getting Around Evansville, IN

Walk Score®

43 / 100

Car-Dependent

Most errands require a car

Bike Score®

42 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Evansville, IN Area Reviews

  • Parks
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  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

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 $779.

What is the price of a cheap apartment in Evansville?

The cheapest apartment in Evansville is SPRING VALLEY FLATS which is listed at $599, while the average apartment in Evansville costs $1,636.

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 345 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 $532 which is $1,104 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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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! 

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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.