Cheap Apartments for Rent in the Downtown Lafayette Neighborhood of Lafayette, IN from $400 (126 Rentals)

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

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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property at 1617 Ferry St

$725 - $1,000

Studio To 3 Bedroom Rentals

Available Aug 1

1617 Ferry St

LafayetteIN47901

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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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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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 910 N 9th St Rd

$929 - $1,199

2 Bedroom Rentals

Available Now

910 N 9th St Rd

LafayetteIN47904
property at 1114 Cincinnati St

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Home for Rent

Available Now

1114 Cincinnati St

LafayetteIN47904

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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Showing Results 1-50, Page 1 of 3

Downtown Lafayette, Lafayette, IN Local Guide

Cheapest Available Downtown Lafayette Apartments for Rent

 

The cheapest available apartment rental in the Downtown Lafayette area of Lafayette, IN is a Studio unit found at Stonecrest Apartments priced from $625. Historic Downtown Apartments II has the second lowest priced unit, which is a 2 Beds apartment currently listed from $800. Here are the most affordable Downtown Lafayette apartments for rent in Lafayette, IN:

Apartment ListingModel NameBed/BathPriced From
Stonecrest ApartmentsStudioStudio,1BA$625
Historic Downtown Apartments II2x12BR,1BA$800
911 N 9th Street2BR/1.0BA2BR,1BA$895
The Luna FlatsLuna Flats - 2Bed/2Bath (2C) - **Offering One M...2BR,2BA$899
Vantage Pointe Apartments1x1 R1BR,1BA$955
Crestview ApartmentsCrestview IV - Furnished1BR,1BA$995

Best Value Apartments for Rent in Downtown Lafayette, IN

As of June 01, 2026 the best value apartment in the Downtown Lafayette area is the $0.84 price per square foot 122 N 3rd St Model at 122 N 3rd St in the in the Downtown Lafayette neighborhood starting from $1,800. The second greatest value Downtown Lafayette apartment is the 2BR/2.5BA Model at Brownstone Condominiums starting at $2,250 with a $1.27 price per square foot in the Downtown Lafayette neighborhood. Here is today’s list of the best values for Downtown Lafayette apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
122 N 3rd St122 N 3rd St2BR,1BA$0.84
Brownstone Condominiums2BR/2.5BA2BR,2.5BA$1.27
Pullman StationJeffersonville1BR,1BA$1.42
Historic Lahr Apartments2.1 C2BR,1BA$1.51
624 New York St, Unit B624 New York St3BR,2BA$1.24
Victory on Salisbury3BR/1BA3BR,1BA$1.27
500 N 5th St, Unit B500 N 5th St2BR,1BA$1.47
Vantage Pointe Apartments1x1 R1BR,1BA$1.47
Historic Downtown Apartments II1 Bedroom1BR,1BA$1.42
1608 Grove St, Unit Apt B1608 Grove StStudio ,1BA$1.38

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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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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Pet Friendly Lifestyle
Downtown Lafayette, Lafayette, IN

Ranked #1

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Lafayette Apartments

What is a cheap apartment in Downtown Lafayette?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Lafayette is under $995.

What is the price of a cheap apartment in Downtown Lafayette?

The cheapest apartment in Downtown Lafayette is Stonecrest Apartments which is listed at $825, while the average apartment in Downtown Lafayette costs $2,050.

What types of apartments are the cheapest in Downtown 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 42 regular apartments in Downtown 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 Downtown Lafayette?

Cheap apartments in Downtown Lafayette have an average cost of $637 which is $1,413 cheaper than the average rent for all rentals in Downtown Lafayette.

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 Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.