Cheap Apartments for Rent in Lafayette, IN from $400 (117 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lafayette.

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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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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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 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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1626 Main St
1 Bedroom Apartments

1626 Main St

1626 Main StLafayette, IN 47904
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CNC Leasing Group
1 Bedroom Apartments

CNC Leasing Group

1031 N 6th StLafayette, IN 47904
  • Utilities Included
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Monon Place
Studio to 2 Bedroom Apartments

Monon Place

510 Salem StLafayette, IN 47904
Student Housing
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Southpoint
1 to 2 Bedroom Apartments

Southpoint

2450 S Earl AveLafayette, IN 47905
  • Utilities Included

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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Lafayette, IN Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Lafayette, IN

Pricing Updated: 10/28/2025

Current apartment rentals in the Lafayette, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Lafayette Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Lafayette$5,520$595197

Cheapest Available Lafayette Apartments for Rent

 

The cheapest available apartment rental in Lafayette, IN is a Studio unit found at Varsity in the Downtown West Lafaytte neighborhood priced from $599. Launch in the Discovery Park neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $624. Here is today’s list of the most affordable Lafayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
VarsityThe Varsity - 109 **Short term Lease**Studio,1BA$599
Launch3B3BR,3BA$624
Stonecrest ApartmentsStudioStudio,1BA$625
Wall StreetWall Street - Unit 1 ** Short Term Lease **1BR,1BA$715
800-806 N 8th / 718 Union0BR/1.0BAStudio,1BA$725
Downtown Lafayette Living!StudioStudio,1BA$750

Best Value Apartments for Rent in Lafayette, IN

As of October 28, 2025 the best value apartment in the Lafayette area is the $0.97 price per square foot (Clayton) Shadeland Estates New Large Homes 3bd... Model at Shadeland Estates in the starting from $1,225. The second greatest value Lafayette apartment is the 2115 Main St Model at 2115 Main St, Unit 2115 starting at $1,300 with a $1.05 price per square foot in the Downtown Lafayette neighborhood. Here is today’s list of the best values for Lafayette apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shadeland Estates(Clayton) Shadeland Estates New Large Homes 3bd...3BR,2BA$0.97
2115 Main St, Unit 21152115 Main St2BR,1BA$1.05
320 Brown St, Unit 407320 Brown St3BR,2BA$1.12
Ashley Oaks Apartments2BR1.5BR2BR,1.5BA$1.18
The Union ApartmentsUnion St. - 2 Bedroom, 1 Bath2BR,1BA$1.22
900 N 10th St, Unit 900900 N 10th St1BR,1BA$1.10
Where Comfort Meets Value1 Bedroom1BR,1BA$1.14
1102 N 10th St, Unit 41102 N 10th StStudio ,1BA$1.05
Wall StreetWall Street - Unit 1 ** Short Term Lease **1BR,1BA$1.09
624 New York St, Unit A624 New York StStudio ,1BA$1.10

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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Lafayette Overview

One of the top towns for individuals and families alike is Lafayette, IN. This is a town that is known for its pleasant weather, welcoming feel, and delicious food. Those who are looking for Lafayette apartments should know that affordable housing is available in this welcoming city. Anyone who is looking for apartments in Lafayette, IN must know where to live. This city sits in between Indianapolis and Chicago, providing easy access to both. The town of Lafayette, IN is also home to a strong educational system that attracts people from all over the country.

Why live in Lafayette, IN?

There are a few major reasons why people choose to live in Lafayette, IN. First, the weather is relatively stable throughout the year, never getting too hot or too cold. Second, this is an area of the country that is growing quickly, providing strong employment opportunities. Finally, the people in this town are friendly and welcoming to everyone who wants to call Lafayette, IN home.

Lafayette, IN
Population: 72,168

Ranked #499

in US Census Population by City

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Best Local Schools in
Lafayette, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lafayette, IN Rentals by Map

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See the most popular apartments and homes in Lafayette, IN

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Getting Around Lafayette, IN

Walk Score®

42 / 100

Car-Dependent

Most errands require a car

Bike Score®

44 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

27 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lafayette Apartments

What is a cheap apartment in Lafayette?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lafayette is under $750.

What is the price of a cheap apartment in Lafayette?

The cheapest apartment in Lafayette is Wall Street which is listed at $715, while the average apartment in Lafayette costs $5,520.

What types of apartments are the cheapest in Lafayette?

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 26 regular apartments in Lafayette 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 Lafayette?

Cheap apartments in Lafayette have an average cost of $506 which is $5,014 cheaper than the average rent for all rentals in Lafayette.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.