Cheap Homes for Rent in the Downtown Evansville Neighborhood of Evansville, IN from $500 (25 Rentals)

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

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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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 $725. Market Street Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $820. 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$725
Market Street ApartmentsStudio Apartment Home in Historic BuildingStudio,1BA$820
The Forge on MainStudioStudio,1BA$845
800 SE Second St1 Beds, 1 Baths1BR,1BA$903
Central LoftsJJ2BR,1BA$925

Best Value Apartments for Rent in Downtown Evansville, IN

As of July 30, 2026 the best value apartment in the Downtown Evansville area is the $1.42 price per square foot Nabisco Building - 2 Bedrooms 2 Bathrooms Model at Nabisco Building in the in the STAR neighborhood starting from $2,650. The second greatest value Downtown Evansville apartment is the Parcel Model at Post House starting at $2,105 with a $1.86 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.
Nabisco BuildingNabisco Building - 2 Bedrooms 2 Bathrooms2BR,2BA$1.42
Post HouseParcel2BR,2BA$1.86
City Pointe2 Bedroom 1 Bath2BR,1BA$1.33
Owen BlockOwen Block - 1 Bedroom 1 Bathroom1BR,1BA$1.22
Washington CourtWashington Court - 2 Bedrooms 1 Bathroom2BR,1BA$1.92
Central LoftsD2BR,1BA$1.48
Bradford Pointe ApartmentsINBFP 2x1 675sqft - Deluxe2BR,1BA$1.22
The Forge on MainStudioStudio ,1BA$1.55
1330 SE Second St1 Beds, 1 Baths1BR,1BA$1.95
Market Street ApartmentsStudio Apartment Home in Historic BuildingStudio ,1BA$2.05

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 #34

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 Downtown Evansville

What type of rentals are currently available in Downtown Evansville?

There are currently 183 Apartments for Rent in Downtown Evansville, IN with pricing that ranges from $600 to $2,650. There are also 43 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Evansville ranging from $550 to $2,200.

What is the current price range for Rental Homes in Downtown Evansville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Evansville ranges from $550 to $2,200 with an average monthly rent of $1,288.

How much are larger Three and Four Bedroom Rentals in Downtown Evansville?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Evansville range from $900 to $1,195, while Three Bedroom Homes, Condos, and Townhomes for rent range from $800 to $1,600. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $1,595.

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.