Cheap Apartments for Rent in the Downtown Lafayette Neighborhood of Lafayette, IN from $400 (75 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Lafayette area of 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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property at 707 South St

$830 - $1,340

1 To 2 Bedroom Rentals

Available Aug 11

707 South St

LafayetteIN47901

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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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. Downtown Lafayette Living! has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable Downtown Lafayette apartments for rent in Lafayette, IN:

Apartment ListingModel NameBed/BathPriced From
Stonecrest ApartmentsStudioStudio,1BA$625
Downtown Lafayette Living!StudioStudio,1BA$750
Where Comfort Meets Value1 Bedroom1BR,1BA$795
Historic Downtown Apartments II2x12BR,1BA$800
Monon Place2 Bedroom 2 Bath2BR,2BA$830
The Luna FlatsLuna Flats - 2Bed/2Bath (2C) #212 - Offering $1...2BR,2BA$850
The PressStudioStudio,1BA$900
Hillside ApartmentsHolloway Dr. - 2 Bedroom, 1 Bath2BR,1BA$925

Best Value Apartments for Rent in Downtown Lafayette, IN

As of March 02, 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 StationPromo - Albany2BR,2.5BA$1.50
633 S 16th St, Unit 633633 S 16th St3BR,1BA$1.07
Historic Lahr Apartments2.2 A2BR,1.5BA$1.45
120 N 3rd St120 N 3rd St2BR,2BA$1.22
Monon Place2 Bedroom 2 Bath2BR,2BA$1.07
Victory on Salisbury3BR/1BA3BR,1BA$1.49
Where Comfort Meets Value1 Bedroom1BR,1BA$1.14
Historic Downtown Apartments II2x12BR,1BA$1.28

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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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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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 $925.

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

The cheapest apartment in Downtown Lafayette is Downtown Lafayette Living! which is listed at $795, while the average apartment in Downtown Lafayette costs $1,999.

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 54 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 $807 which is $1,192 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 Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.