Cheap Apartments for Rent in Lafayette, IN from $400 (98 Rentals)

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

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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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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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 Apartments

Monon Place

510 Salem StLafayette, IN 47904
Student Housing
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CNC Leasing Group
1 Bedroom Apartments

CNC Leasing Group

1214 Columbia StLafayette, IN 47901
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Southpoint
1 to 2 Bedroom Apartments

Southpoint

2450 S Earl AveLafayette, IN 47905
  • Utilities Included
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CNC Leasing Group
2 Bedroom Apartments

CNC Leasing Group

1500-1506 Perdue StLafayette, IN 47905
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Sunset Ridge Apartments
2 Bedroom Apartments

Sunset Ridge Apartments

1421-1423 Sunset Ridge DrLafayette, IN 47905
  • Utilities Included
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White Pines Duplexes
1 to 2 Bedroom Apartments

White Pines Duplexes

2700 Plaza LnLafayette, IN 47909
  • Utilities Included
Showing Results 1-50, Page 1 of 2

Lafayette, IN Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Lafayette, IN

Pricing Updated: 06/13/2025

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$1,818$595139

Cheapest Available Lafayette Apartments for Rent

 

The cheapest available apartment rental in Lafayette, IN is a Studio unit found at Downtown Lafayette Living! in the Downtown Lafayette neighborhood priced from $595. Stonecrest Apartments in the Downtown Lafayette neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $625. Here is today’s list of the most affordable Lafayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Downtown Lafayette Living!StudioStudio,1BA$595
Stonecrest ApartmentsStudioStudio,1BA$625
Brampton Apartments1 bed 1 bath1BR,1BA$750
Pheasant RunThe Retriever StudioStudio,1BA$793
Historic Downtown Apartments II2x12BR,1BA$800
Portledge Commons1 BR 1 bath1BR,1BA$815
Crestview ApartmentsCrestview IIIStudio,1BA$870
VarsityThe Varsity - 306 **Immediate move-in**Studio,1BA$875

Best Value Apartments for Rent in Lafayette, IN

As of June 14, 2025 the best value apartment in the Lafayette area is the $0.93 price per square foot 4x3 D Model at Hub on Campus West Lafayette in the in the Downtown West Lafaytte neighborhood starting from $1,145. The second greatest value Lafayette apartment is the (Adventure) Shadeland Estates New Large Homes 3... Model at 2351 State Road 25 W starting at $1,150 with a $0.95 price per square foot . 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.
Hub on Campus West Lafayette4x3 D4BR,3BA$0.93
2351 State Road 25 W(Adventure) Shadeland Estates New Large Homes 3...3BR,2BA$0.95
Nova2BR/2.0BA2BR,2BA$0.88
Burberry Place Apartments2 Bedrooms, 1 Bathroom2BR,1BA$1.26
502-524 S 15th Street1BR/1.0BA1BR,1BA$1.00
1311 Richards St, Unit B1311 Richards St3BR,1BA$1.00
The Luna FlatsLuna Flats - 2Bed/2Bath (2C)2BR,2BA$0.99
Georgetown South2 Bedroom2BR,1BA$1.16
Cross Winds Apartments1x1 800 Sq Ft1BR,1BA$1.25
Village Square Apartments1X1B R1BR,1BA$1.22

Quick Rent Budget Calculator

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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.

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®

43 / 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 $875.

What is the price of a cheap apartment in Lafayette?

The cheapest apartment in Lafayette is Downtown Lafayette Living! which is listed at $795, while the average apartment in Lafayette costs $1,818.

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 39 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 $537 which is $1,281 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.