Cheap Apartments for Rent in Lapel, IN from $600 (50 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lapel.

property at 108 W 5th St

$1,775

Total Monthly Price

Total Monthly Price

Base Rent
$1,775
Total Monthly Price
$1,775

4 Bedroom, 2 Bath Home for Rent

Available Now

108 W 5th St

LapelIN46051
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Meadow View Apartments
Studio to 3 Bedroom Apartments

Meadow View Apartments

1520 N Main StLapel, IN 46051
  • Utilities Included

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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Four Winds Apartments
$1,020 - $1,150
Total Monthly Price

Total Monthly Price

Base Rent
$1,020 - $1,150
Total Monthly Price
$1,020 - $1,150
1 to 3 Bedroom Apartments Available Sep 12

Four Winds Apartments

2601 Morning Star LnAnderson, IN 46011
Corporate Housing
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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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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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Harter House
Studio to 1 Bedroom Apartments

Harter House

600 Main StAnderson, IN 46016

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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Lapel, IN Local Guide

Cheapest Available Lapel Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lapel, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior in the Anderson neighborhood priced from $250. Longfellow Plaza Affordable Senior Community in the Anderson neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $790. Here is today’s list of the most affordable Lapel apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790
1212 Meridian Flats1x11BR,1BA$850
Cedar Ridge TownhomesThe Hickory1BR,1BA$869
Harter HouseSofia1BR,1BA$895
ApplecreekThe Washington1BR,1BA$934
Sun Valley TownhomesTownhouse2BR,1BA$935
Cumberland Pointe ApartmentsThe Cape-D1BR,1BA$1,103
Grissom Estates ApartmentsTwo Bedroom2BR,1BA$1,110
Jefferson Place ApartmentsB1-U2BR,2BA$1,225

Best Value Apartments for Rent in Lapel, IN and Nearby

As of July 29, 2026 the best value apartment in the Lapel area is the $0.92 price per square foot Townhouse Model at Sun Valley Townhomes in the in the Anderson neighborhood starting from $1,300. The second greatest value Lapel apartment is the Sycamore Model at Woods of Britton starting at $1,710 with a $1.23 price per square foot in the Limestone Springs neighborhood. Here is today’s list of the best values for Lapel apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sun Valley TownhomesTownhouse3BR,2.5BA$0.92
Woods of BrittonSycamore3BR,2BA$1.23
Stonecrest Apartments3 bedroom 1.5 bath3BR,1.5BA$1.14
Villages on Madison Apartments3x1.5 R-Prem3BR,1.5BA$1.06
Jefferson Place ApartmentsB1-D2BR,2BA$1.38
Grissom Estates ApartmentsTwo Bedroom2BR,1BA$1.16
1212 Meridian Flats1x11BR,1BA$1.01
Cumberland Pointe ApartmentsThe Cape-D1BR,1BA$1.43
ApplecreekThe Washington1BR,1BA$1.39
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Lapel Apartments

What is the Cheapest Studio apartment in Lapel?

Currently the most affordable Cheap Studio Apartment in Lapel is at Longfellow Plaza Affordable Senior Community listed at $790.

How much is rent for a Cheap One Bedroom Lapel Apartment?

The lowest price for a Cheap One Bedroom Lapel Apartment is $250 at The Towers at Southdale Affordable Senior.

What is the lowest price for a Cheap Two Bedroom Lapel Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lapel is starting from $935 at Sun Valley Townhomes.

What is the most affordable Lapel Three Bedroom Apartment?

The best deal on a cheap Lapel Three Bedroom Apartment rental is at Sun Valley Townhomes and starts from $1,300.

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.

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.

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

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.