Cheap Homes for Rent in Evansville, IN from $500 (44 Rentals)

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

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 1100 Erie Ave

$875 - $1,600

1 To 3 Bedroom Rentals

Available Now

1100 Erie Ave

EvansvilleIN47715

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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property at 1330 SE 2nd St

$895 - $1,195

1 To 2 Bedroom Rentals

Available Now

1330 SE 2nd St

EvansvilleIN47713

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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property at 1313 East Walnut

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

3 Bedroom, 2 Bath Home for Rent

Available Now

1313 East Walnut

EvansvilleIN47714
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Evansville, IN Local Guide

Cheapest Neighborhoods for Apartments in Evansville, IN

Pricing Updated: 04/01/2026

Current apartment rentals in the Evansville, IN area range in price from $500 to $4,449 with an overall median price of $1,660. The three Evansville neighborhoods with the lowest median rent pricing are Willemette at $599, Diamond Stringtown at $625, and Rosedale South at $500. 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$1,185$59950
Diamond Stringtown$1,249$62547
Rosedale South$1,325$50070
Spring Park$1,325$57567
Gum Bayard Park Chandler$1,329$50062
Lorraine Park$1,329$50055
Lincoln Park$1,359$50060
ACT$1,369$50037
Dexter$1,369$57565
Eastview$1,369$57550

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. Fielding Court in the Lant Manor neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $600. Here is today’s list of the most affordable Evansville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
SPRING VALLEY FLATSThe Redbud1BR,1BA$599
Fielding CourtStudio (Water & Trash included)Studio,1BA$600
Sontra Apartments Evansville0BR/1.0BAStudio,1BA$630
Lakewood Flats and Townhomes2 small wd2BR,1BA$670
Valoré at Hidden HillsThe Dogwood - One Bedroom Apartment Home1BR,1BA$675
Crescent Court Apartments1BR/1.0BA1BR,1BA$675
Embassy Apartments0.1Studio,1BA$685
Heathmoore - Evansville1 Bed 1 Bath1BR,1BA$700
Foxfire West Apartments1.11BR,1BA$785
The Timbers ApartmentsThe Oak 1 BR 1 BA1BR,1BA$789

Best Value Apartments for Rent in Evansville, IN

As of April 01, 2026 the best value apartment in the Evansville area is the $1.00 price per square foot 12 Park Pl Model at 12 Park Pl, Unit A in the in the Howell neighborhood starting from $1,700. The second greatest value Evansville apartment is the 2 Bed 2 Bath - Townhome Model at Devonshire Gardens I & II starting at $1,380 with a $0.89 price per square foot in the Lant Manor 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.
12 Park Pl, Unit A12 Park Pl2BR,2BA$1.00
Devonshire Gardens I & II2 Bed 2 Bath - Townhome2BR,2BA$0.89
Western Hills Apartments3 Bedroom Townhome3BR,2.5BA$1.07
1327 Parrett St, Unit A1327 Parrett St2BR,2BA$1.02
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
Ross Center Village2BR/1.0BA2BR,1BA$0.85
Hornbrook Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.04
Indian WoodsThe Oak2BR,1BA$1.05
Princeton Court2 Bed 1 Bath2BR,1BA$1.08
Addison PlaceSt Charles2BR,1BA$1.06

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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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 Evansville

What type of rentals are currently available in Evansville?

There are currently 316 Apartments for Rent in Evansville, IN with pricing that ranges from $500 to $4,449. There are also 90 Single Family Homes for rent, Condos, and Townhome rentals currently available in Evansville ranging from $595 to $6,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Evansville ranges from $595 to $6,500 with an average monthly rent of $1,921.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Evansville range from $850 to $2,700, while Three Bedroom Homes, Condos, and Townhomes for rent range from $800 to $3,300. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $580.

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 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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.