Cheap Apartments for Rent in the Southwest Neighborhood of Fort Wayne, IN from $400 (89 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Southwest area of Fort Wayne.

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property at 812 Walnut St

$875 - $1,050

1 To 2 Bedroom Rentals

Available Jul 31

812 Walnut St

Fort WayneIN46802

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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The Elex
$1,002 - $3,066
Total Monthly Price

Total Monthly Price

Base Rent
$1,002 - $3,066
Total Monthly Price
$1,002 - $3,066
1 to 3 Bedroom Apartments Available Now

The Elex

877 Lavina StFort Wayne, IN 46802
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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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439 E Wayne St
Studio to 1 Bedroom Apartments

439 E Wayne St

439 E Wayne StFort Wayne, IN 46802
Student Housing
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Regency House Apartments
Studio to 2 Bedroom Apartments

Regency House Apartments

2440 Fairfield AveFort Wayne, IN 46807
  • Utilities Included

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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Southwest, Fort Wayne, IN Local Guide

Cheapest Available Southwest Apartments for Rent

 

The cheapest available apartment rental in the Southwest area of Fort Wayne, IN is a 1 Bed unit found at Jackson Manor Apartments priced from $765. Colony Bay Apartments,LLC has the second lowest priced unit, which is a 1 Bed apartment currently listed from $770. Here are the most affordable Southwest apartments for rent in Fort Wayne, IN:

Apartment ListingModel NameBed/BathPriced From
Jackson Manor ApartmentsOne Bedroom1BR,1BA$765
Colony Bay Apartments,LLC1 BR 1 BA Apartment1BR,1BA$770
Waynedale Village ApartmentsOne Bed1BR,1BA$789
Hickory Creek Apartments1 bd 1 ba Classic Flat1BR,1BA$799
The Riv on the Greenway!1BR/1.0BA1BR,1BA$845
Time Corners Crossing1 Bedroom1BR,1BA$856
The Cottages at Bridgewater (Senior 55+)1 Bedroom1BR,1BA$895
Three Rivers Apartmentss01b Rodeo DriveStudio,1BA$899

Best Value Apartments for Rent in Southwest, IN

As of July 26, 2026 the best value apartment in the Southwest area is the $0.97 price per square foot Townhome Model at Anam Villas in the in the Southwest Fort Wayne neighborhood starting from $1,995. The second greatest value Southwest apartment is the CLA 3BR/2.5BA Townhome Model at Coventry Court Townhomes starting at $1,379 with a $0.84 price per square foot in the Southwest Fort Wayne neighborhood. Here is today’s list of the best values for Southwest apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Anam VillasTownhome3BR,2.5BA$0.97
Coventry Court TownhomesCLA 3BR/2.5BA Townhome3BR,2.5BA$0.84
701 runnion ave, Unit 703 Runnion701 runnion ave3BR,1.5BA$0.78
Homestead Townhomes3 Bedroom3BR,2.5BA$1.20
Fort Wayne Regency3 Beds, 2 Baths3BR,2BA$0.82
238 E Suttenfield St, Unit 238 E Suttenfield St238 E Suttenfield St2BR,1BA$0.81
Foster Park Apartments2 Bed Classic2BR,1.5BA$1.05
Fairview Court Apartments2x1.5 Down Reno2BR,1.5BA$1.19
Autumn Creek Apartment Homes2B2B-HYB2BR,2BA$1.10
Waynedale Village ApartmentsTwo Bed2BR,1BA$1.16

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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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
Southwest, Fort Wayne, IN

Ranked #3

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Southwest, Fort Wayne, IN

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Fort Wayne. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for easy access to the parks, luxury amenities, pet-friendly features, places that make kids happy, proximity to transit, in addition to floorplans, availablity, and pricing. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Southwest Apartments

What is a cheap apartment in Southwest?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southwest is under $899.

What is the price of a cheap apartment in Southwest?

The cheapest apartment in Southwest is Jackson Manor Apartments which is listed at $765, while the average apartment in Southwest costs $10,826.

What types of apartments are the cheapest in Southwest?

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 25 regular apartments in Southwest 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 Southwest?

Cheap apartments in Southwest have an average cost of $173 which is $10,653 cheaper than the average rent for all rentals in Southwest.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

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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.