Cheap Homes for Rent in the Downtown Lafayette Neighborhood of Lafayette, IN from $700 (17 Rentals)

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Search the lowest-cost Homes 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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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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property at 1606 Grove St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

1 Bedroom, 1 Bath Townhome for Rent

Available Now

1606 Grove St

LafayetteIN47905
property at 519 S 1st St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 1 Bath Home for Rent

Available Aug 20

519 S 1st St, Unit 519.5

519 S 1st St
LafayetteIN47905

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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Showing Results 1-17, Page 1 of 1

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. 911 N 9th Street has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here are the most affordable Downtown Lafayette apartments for rent in Lafayette, IN:

Apartment ListingModel NameBed/BathPriced From
Stonecrest ApartmentsStudioStudio,1BA$625
911 N 9th Street1BR/1.0BA1BR,1BA$695
1214 Columbia StreetStudioStudio,1BA$735
901 N 8th StStudioStudio,1BA$750
Armory Loft1 Bdr Triplex1BR,1BA$760

Best Value Apartments for Rent in Downtown Lafayette, IN

As of July 17, 2026 the best value apartment in the Downtown Lafayette area is the $0.47 price per square foot 204 S 6th St Model at 204 S 6th St, Unit Upstairs Unit in the in the Downtown Lafayette neighborhood starting from $1,400. The second greatest value Downtown Lafayette apartment is the 122 N 3rd St Model at 122 N 3rd St starting at $1,800 with a $0.84 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.
204 S 6th St, Unit Upstairs Unit204 S 6th St2BR,1BA$0.47
122 N 3rd St122 N 3rd St2BR,1BA$0.84
102 N 3rd Street2BR/2.0BA2BR,2BA$1.22
631 S 16th St, Unit 631631 S 16th St3BR,1BA$1.14
Wabash Village Apartments3/2 Classic3BR,2BA$1.22
Victory on Salisbury3BR/1BA3BR,1BA$1.07
Monon Place2 Bedroom 1 Bath2BR,1BA$1.00
1006 N 10th St, Unit A1006 N 10th St2BR,1BA$1.10
901 N 8th StStudioStudio ,1BA$1.04
Armory Loft1 Bdr Triplex1BR,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 Downtown Lafayette

What type of rentals are currently available in Downtown Lafayette?

There are currently 213 Apartments for Rent in Downtown Lafayette, IN with pricing that ranges from $565 to $3,600. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Lafayette ranging from $700 to $3,998.

What is the current price range for Rental Homes in Downtown Lafayette?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Lafayette ranges from $700 to $3,998 with an average monthly rent of $1,924.

How much are larger Three and Four Bedroom Rentals in Downtown Lafayette?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Lafayette range from $847 to $3,600, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,195 to $2,559. Four Bedroom Single-Family rentals are also available starting from $3,998 and Four Bedroom Apartments start at $799.

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 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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.