Cheap Apartments for Rent in Lafayette, IN from $400 (109 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
1626 Main St
1 Bedroom Apartments

1626 Main St

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

CNC Leasing Group

1031 N 6th StLafayette, IN 47904
  • Utilities Included
close
View Me
Monon Place
Studio Apartments

Monon Place

510 Salem StLafayette, IN 47904
Student Housing
  • Utilities Included
close
View Me
CNC Leasing Group
1 Bedroom Apartments

CNC Leasing Group

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

Southpoint

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

CNC Leasing Group

1500-1506 Perdue StLafayette, IN 47905
Showing Results 1-50, Page 1 of 3

Lafayette, IN Local Guide

Photo of Staff Writer - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Lafayette, IN

Pricing Updated: 07/29/2025

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$1,596$59545

Cheapest Available Lafayette Apartments for Rent

 

The cheapest available apartment rental in Lafayette, IN is a Studio unit found at Stonecrest Apartments in the Downtown Lafayette neighborhood priced from $625. Launch in the Discovery Park neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $650. Here is today’s list of the most affordable Lafayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Stonecrest ApartmentsStudioStudio,1BA$625
Launch2A2BR,2BA$650
Downtown Lafayette Living!Studio1BR,1BA$795
Historic Downtown Apartments II2x12BR,1BA$800
The Luna FlatsLuna Flats - 2-bed/2-bath (2C) **limited time o...2BR,2BA$850
Victory on Salisbury4BR/1BA4BR,1BA$897

Best Value Apartments for Rent in Lafayette, IN

As of July 29, 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 Discovery Park neighborhood starting from $1,145. The second greatest value Lafayette apartment is the 2115 Main St Model at 2115 Main St, Unit 2115 starting at $1,325 with a $1.07 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.
Hub on Campus West Lafayette4x3 D4BR,3BA$0.93
2115 Main St, Unit 21152115 Main St2BR,1BA$1.07
The Ravine Apartment Homes2 BR UPGRA2BR,1.5BA$1.23
Crosswalk Commons4 Bedroom 2 Bath4BR,2BA$0.71
Ashley Oaks ApartmentsD-2BR-1.5B2BR,1.5BA$1.18
Cypress Square2BD/1BA2BR,1BA$1.30
The Luna FlatsLuna Flats - 2-bed/2-bath (2C) **limited time o...2BR,2BA$0.94
Cross Winds Apartments1x1 800 Sq Ft1BR,1BA$1.25
Victory on Salisbury3BR/1BA3BR,1BA$1.31
Historic Downtown Apartments II2x12BR,1BA$1.28

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.

decorative image of people with a giant lease agreement

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

decorative image of people examining a giant globe and floating graphs

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

Decorative image of map

See the most popular apartments and homes in Lafayette, IN

View Map
Lafayette, IN Apartments Map
View Map
Lafayette, IN Rental Homes Map

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 $897.

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 $1,596.

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 16 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 $597 which is $999 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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

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

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.