Cheap Apartments for Rent in the Downtown Lafayette Neighborhood of Lafayette, IN from $535 (97 Rentals)

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

property at 811 N 14th St

$710

Total Monthly Price

Total Monthly Price

Base Rent
$710
Total Monthly Price
$710

2 Bedroom, 1 Bath Home for Rent

Available Now

811 N 14th St

LafayetteIN47904

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 525 S 3rd St

$725 - $1,049

1 To 2 Bedroom Rentals

Available Now

525 S 3rd St

LafayetteIN47905

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 27 S 15th St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 1.5 Bath Townhome for Rent

Available Now

27 S 15th St

LafayetteIN47905

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 415 N 11th St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

415 N 11th St

LafayetteIN47904

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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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.

Read Article
Showing Results 1-50, Page 1 of 2

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 Uptown West priced from $618. Stonecrest Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $625. Here are the most affordable Downtown Lafayette apartments for rent in Lafayette, IN:

Apartment ListingModel NameBed/BathPriced From
Uptown WestUptown West - Studio **PROMO PRICING**Studio,1BA$618
Stonecrest ApartmentsStudioStudio,1BA$625
5002BR/1.0BA2BR,1BA$675
Wall StreetWall Street - Unit 61BR,1BA$749
Armory Loft1 Bdr Triplex1BR,1BA$760
Historic Downtown Apartments II2x12BR,1BA$800
Crestview ApartmentsCrestview II2BR,1BA$800

Best Value Apartments for Rent in Downtown Lafayette, IN

As of September 01, 2026 the best value apartment in the Downtown Lafayette area is the $1.27 price per square foot 2BR/2.5BA Model at Brownstone Condominiums in the in the Downtown Lafayette neighborhood starting from $2,250. The second greatest value Downtown Lafayette apartment is the 2BR/2.0BA Model at 102 N 3rd Street starting at $1,750 with a $1.20 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.
Brownstone Condominiums2BR/2.5BA2BR,2.5BA$1.27
102 N 3rd Street2BR/2.0BA2BR,2BA$1.20
Adams Earl-900 N 21st2BR/1.5BA2BR,1.5BA$0.85
631 S 16th St, Unit 631631 S 16th St3BR,1BA$1.11
122 N 3rd St122 N 3rd St2BR,1BA$1.06
Salisbury PlaceSalisbury Place - 120 #9 **Offering One Month'...3BR,2BA$0.93
1015 Main St, Unit 111015 Main St1BR,1BA$1.11
Victory on Salisbury3BR/1BA3BR,1BA$0.98
1102 N 10th St, Unit 41102 N 10th StStudio ,1BA$1.07
Wall StreetWall Street - Unit 61BR,1BA$1.24

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 $800.

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

The cheapest apartment in Downtown Lafayette is Wall Street which is listed at $749, while the average apartment in Downtown Lafayette costs $1,250.

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 67 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 $808 which is $442 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

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.