
Cheap Apartments for Rent in Leo, IN from $500 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in Leo.


Shoaff Park Villas

Graystone Apartments

Total Monthly Price
Montrose Square

Fountain Lake Apartment Homes
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.

Golfview Apartments

Wallen Hills Apartments

Canterbury Green

Wood Creek Apartments

Stone Pointe Village
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.

Woodview Manor Apartments

Woodbridge Apartments

1020 Northlawn Dr

210 1/2 W 4th St

1000 Old Brick Rd
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.

3127 Pennsylvania St

5515 Brazo Ln
Leo, IN Local Guide

How much does it cost to rent an apartment in Leo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Leo Studio Apartments | $838 | $695 | $1,264 |
| Leo 1 Bedroom Apartments | $1,161 | $625 | $2,177 |
| Leo 2 Bedroom Apartments | $1,300 | $675 | $2,679 |
| Leo 3 Bedroom Apartments | $1,788 | $1,355 | $2,500 |
| Leo 4 Bedroom Apartments | $1,255 | $585 | $2,560 |
Browse Top Apartments in Leo
See all Apartments in LeoExplore Leo
Leo, IN Local Guide
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Cheapest Available Leo Apartments for Rent and Nearby
 The cheapest available apartment rental in Leo, IN is a Studio unit found at Fountain Lake Apartment Homes in the Northeast Fort Wayne neighborhood priced from $780. Graystone Apartments in the Northeast Fort Wayne 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 Leo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Fountain Lake Apartment Homes | Trevi | Studio,1BA | $780 |
| Graystone Apartments | Graystone Apartments 1bed studio | Studio,1BA | $790 |
| Canterbury Green | Westgate 1Bed 1Bath 728sqft | 1BR,1BA | $870 |
| Black Hawk Apartments | Autumn | 1BR,1BA | $1,155 |
| Homestead Village Fort Wayne - Active Living 55+ | The Audrey | 1BR,1BA | $1,200 |
Best Value Apartments for Rent in Leo, IN and Nearby
As of June 16, 2026 the best value apartment in the Leo area is the $1.05 price per square foot Townhomes Model at Evard Place - Solar Powered in the in the Northeast Fort Wayne neighborhood starting from $2,000. The second greatest value Leo apartment is the Kensington Model at Union Club Apartments starting at $2,131 with a $1.21 price per square foot in the Pine Valley neighborhood. Here is today’s list of the best values for Leo apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Evard Place - Solar Powered | Townhomes | 3BR,2.5BA | $1.05 |
| Union Club Apartments | Kensington | 3BR,2BA | $1.21 |
| Huntertown Apartments | Two Bedroom | 2BR,2.5BA | $1.13 |
| Windsor Oaks | The Oak | 3BR,2BA | $1.10 |
| Copper Creek Villas | Villa | 3BR,2.5BA | $1.30 |
| Reserve at Dawson's Creek | The Laural - Premium | 2BR,2BA | $1.31 |
| Woodbridge Apartments | Mahogany | 2BR,1BA | $1.31 |
| Emerald Pointe (55+ Senior Community) | Hawthorne | 2BR,1.5BA | $1.16 |
| St Joe Place | 2x2 | 2BR,2BA | $0.80 |
| Canterbury Green | Westgate 1Bed 1Bath 728sqft | 1BR,1BA | $1.20 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Leo, IN Rentals by Map
See the most popular apartments and homes in Leo, IN
Frequently Asked Questions about Cheap Leo Apartments
How much is rent for a Cheap One Bedroom Leo Apartment?
The lowest price for a Cheap One Bedroom Leo Apartment is $875 at Canterbury Green.
What is the lowest price for a Cheap Two Bedroom Leo Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Leo is starting from $950 at Canterbury Green.
What is the most affordable Leo Three Bedroom Apartment?
The best deal on a cheap Leo Three Bedroom Apartment rental is at Woodbridge Apartments and starts from $1,490.
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

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.

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.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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.