Cheap Apartments for Rent in the Downtown Evansville Neighborhood of Evansville, IN from $400 (54 Rentals)

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

property at 1049 Seale Ave

$645 - $695

1 Bedroom Rentals

Available Now

1049 Seale Ave

EvansvilleIN47714
property at 307 SE 2nd St

$750

1 Bedroom Rentals

Available Now

307 SE 2nd St

EvansvilleIN47713

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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property at 1313 East Walnut

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

3 Bedroom, 2 Bath Home for Rent

Available Now

1313 East Walnut

EvansvilleIN47714

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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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
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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

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 Rathbone
1 to 2 Bedroom Apartments

The Rathbone

1320 SE 2nd StEvansville, IN 47713
Corporate Housing
  • Utilities Included

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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800 SE Second St
1 Bedroom Apartments

800 SE Second St

800 SE Second StEvansville, IN 47713

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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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 1 Bed unit found at The Rathbone priced from $795. Bradford Pointe Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $805. Here are the most affordable Downtown Evansville apartments for rent in Evansville, IN:

Apartment ListingModel NameBed/BathPriced From
The Rathbone1bed, 1 bath1BR,1BA$795
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Classic2BR,1BA$805
Market Street ApartmentsStudio Apartment Home in Historic BuildingStudio,1BA$820
800 SE Second St1 Beds, 1 Baths1BR,1BA$903
Central LoftsJJ2BR,1BA$925
1330 SE Second St2 Beds, 1 Baths2BR,1BA$995
Colonial Manor Apartments2x1 R2BR,1BA$995
Forge on Main1 Bedroom1BR,1BA$1,120
City Pointe2 Bedroom 1 Bath2BR,1BA$1,195

Best Value Apartments for Rent in Downtown Evansville, IN

As of June 11, 2026 the best value apartment in the Downtown Evansville area is the $1.18 price per square foot 2 Bedrooms, 2 Bathrooms Model at Nabisco Building in the in the STAR neighborhood starting from $2,199. The second greatest value Downtown Evansville apartment is the Two Bedroom Model at Wedgewood Apartments starting at $750 with a $0.63 price per square foot in the Lincoln-Bellemeade 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.
Nabisco Building2 Bedrooms, 2 Bathrooms2BR,2BA$1.18
Wedgewood ApartmentsTwo Bedroom2BR,1.5BA$0.63
213 Cherry St, Unit Apt B213 Cherry St2BR,1BA$1.36
City Pointe2 Bedroom 1 Bath2BR,1BA$1.33
Colonial Manor Apartments2X12BR,1BA$1.15
Forge on Main1 Bedroom1BR,1BA$1.32
Washington Court2 Bedrooms, 1 Bathroom2BR,1BA$1.92
Central LoftsD2BR,1BA$1.48
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Deluxe2BR,1BA$1.34
1330 SE Second St2 Beds, 1 Baths2BR,1BA$1.57

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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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

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

The lowest price for a Cheap One Bedroom Downtown Evansville Apartment is $795 at The Rathbone.

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Evansville is starting from $750 at Wedgewood Apartments.

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 How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.