Cheap Apartments for Rent in the Downtown Evansville Neighborhood of Evansville, IN from $400 (40 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Evansville area of 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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property at 1509 E Illinois St

$895

Total Monthly Price

Total Monthly Price

Base Rent
$895
Total Monthly Price
$895

2 Bedroom, 1 Bath Home for Rent

Available Now

1509 E Illinois St

EvansvilleIN47711
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1430 Parrett St
1 to 2 Bedroom Apartments

1430 Parrett St

1430 Parrett StEvansville, IN 47713
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Westbriar Apartments
1 Bedroom Apartments

Westbriar Apartments

2300 W Iowa StEvansville, IN 47712
  • Utilities Included
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1900 N Willow Rd
1 to 3 Bedroom Apartments

1900 N Willow Rd

1900 N Willow RdEvansville, IN 47711

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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The Grove
1 to 2 Bedroom Apartments

The Grove

1105 SE First StEvansville, IN 47713
  • Utilities Included
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Donaldson Arms
1 to 2 Bedroom Apartments

Donaldson Arms

1407 Howard StEvansville, IN 47713
  • Utilities Included
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Wedgewood
2 Bedroom Apartments

Wedgewood

1127 Lincoln AveEvansville, IN 47714
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The Rathbone Apartments
1 to 2 Bedroom Apartments

The Rathbone Apartments

1320 SE 2nd StEvansville, IN 47713
Corporate Housing
  • 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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property at 1330 SE 2nd St

$895 - $1,195

1 To 2 Bedroom Rentals

Available Now

1330 SE 2nd St

EvansvilleIN47713

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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Showing Results 1-40, Page 1 of 1

Downtown Evansville, Evansville, IN Local Guide

Cheapest Available Downtown Evansville Apartments for Rent

 

The cheapest available apartment rental in the Downtown Evansville area of Evansville, IN is a 2 Beds unit found at Bradford Pointe Apartments priced from $805. The Forge on Main has the second lowest priced unit, which is a Studio apartment currently listed from $813. Here are the most affordable Downtown Evansville apartments for rent in Evansville, IN:

Apartment ListingModel NameBed/BathPriced From
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Classic2BR,1BA$805
The Forge on MainStudio AStudio,1BA$813
Central LoftsJJ2BR,1BA$925
City Pointe2 Bedroom 1 Bath2BR,1BA$1,195
Washington Court1 Bedroom, 1 Bathroom1BR,1BA$1,339
Post HouseLedger1BR,1BA$1,535

Best Value Apartments for Rent in Downtown Evansville, IN

As of April 27, 2026 the best value apartment in the Downtown Evansville area is the $1.33 price per square foot 2 Bedroom 1 Bath Model at City Pointe in the in the Lincoln-Bellemeade neighborhood starting from $1,195. The second greatest value Downtown Evansville apartment is the 2316 W Franklin St Model at 2316 W Franklin St, Unit B starting at $1,400 with a $1.56 price per square foot in the Howell neighborhood. Here is today’s list of the best values for Downtown Evansville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
City Pointe2 Bedroom 1 Bath2BR,1BA$1.33
2316 W Franklin St, Unit B2316 W Franklin St2BR,1BA$1.56
Post HouseLedger A1BR,1BA$2.06
Washington Court2 Bedrooms, 1 Bathroom2BR,1BA$1.92
Central LoftsD2BR,1BA$1.48
The Forge on MainOne Bedroom A1BR,1BA$1.47
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Deluxe2BR,1BA$1.34
616 SE 3rd St, Unit 2616 SE 3rd St1BR,1BA$2.00
2200 Haven Dr2200 Haven Dr1BR,1BA$1.70

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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

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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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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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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Pet Friendly Lifestyle
Downtown Evansville, Evansville, IN

Ranked #28

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Downtown Evansville, Evansville, IN

School data provided by Great Schools

Frequently Asked Questions about Cheap Downtown Evansville Apartments

What is the price of a cheap apartment in Downtown Evansville?

The cheapest apartment in Downtown Evansville is The Forge on Main which is listed at $1,075, while the average apartment in Downtown Evansville costs $1,995.

What types of apartments are the cheapest in Downtown 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 4 regular apartments in Downtown Evansville that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.