Cheap Apartments for Rent in Lima, OH from $400 (25 Rentals)

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

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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Columbia Terrace
Studio to 2 Bedroom Apartments

Columbia Terrace

639 Columbia DrLima, OH 45805
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Country View
2 to 4 Bedroom Apartments

Country View

325 E 8th StLima, OH 45804
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The Charlestowne
1 to 2 Bedroom Apartments

The Charlestowne

2350 N Cole StLima, OH 45801
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Hampton Greene
1 to 2 Bedroom Apartments

Hampton Greene

400 S Mumaugh RdLima, OH 45804
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Andover Court
Studio to 2 Bedroom Apartments

Andover Court

1050 Mackenzie DrLima, OH 45805
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The Vineyards
1 to 3 Bedroom Apartments

The Vineyards

2370 N Cole StLima, OH 45801
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Richelieu Apartments
1 to 2 Bedroom Apartments

Richelieu Apartments

1475 Edgewood DrLima, OH 45805
  • Utilities Included

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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Kimberly Apartments
2 Bedroom Apartments

Kimberly Apartments

2300 Kimberly DrLima, OH 45805
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Waterford Townhomes
2 to 3 Bedroom Apartments

Waterford Townhomes

524 Hope StLima, OH 45804
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Shawnee Terrace Arms
Studio to 2 Bedroom Apartments

Shawnee Terrace Arms

1720-1722 Shawnee RdLima, OH 45805
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Wilshire Place
2 to 3 Bedroom Apartments

Wilshire Place

1500 Deerfield DrLima, OH 45805

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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The Moreland Manor
Studio to 1 Bedroom Apartments

The Moreland Manor

319 W North StLima, OH 45801
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The Barr Apartments
1 Bedroom Apartments

The Barr Apartments

210 N Union StLima, OH 45801
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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.

Lima, OH Local Guide

Cheapest Available Lima Apartments for Rent

 

The cheapest available apartment rental in Lima, OH is a 2 Beds unit found at 43 Town Square priced from $595. Mt. Vernon Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here is today’s list of the most affordable Lima apartments for rent:

Apartment ListingModel NameBed/BathPriced From
43 Town Square2 Bedroom2BR,1BA$595
Mt. Vernon Village1 Bedroom 1 Bathroom1BR,1BA$700
Elijah ParkwayOne Bedroom1BR,1BA$990
Willow Lake2 Bed, 1 Bath2BR,1BA$1,000
Metro CenterSingle1BR,1BA$1,300

Best Value Apartments for Rent in Lima, OH

As of June 14, 2025 the best value apartment in the Lima area is the $0.97 price per square foot Three-Bedroom Model at 236 S Kenilworth Ave in the starting from $1,695. The second greatest value Lima apartment is the 2 Bedroom Model at 43 Town Square starting at $595 with a $0.59 price per square foot . Here is today’s list of the best values for Lima apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
236 S Kenilworth AveThree-Bedroom3BR,2BA$0.97
43 Town Square2 Bedroom2BR,1BA$0.59
2304 Lakewood Ave, Unit 23042304 Lakewood Ave2BR,1BA$1.56
Emma Parkway Townhomes3866 Emma2BR,1BA$1.66
Northlake Village Apartments1 Bed 1 bath1BR,1BA$1.21
Willow Lake2 Bed, 1 Bath2BR,1BA$1.27
Metro CenterSingle1BR,1BA$1.67
Mt. Vernon Village1 Bedroom 1 Bathroom1BR,1BA$1.17
504 1/2 S Shawnee St, Unit S Shawnee St504 1/2 S Shawnee StStudio ,1BA$3.41

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

Explore Lima, OH Rentals by Map

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Getting Around Lima, OH

Walk Score®

39 / 100

Car-Dependent

Most errands require a car

Bike Score®

41 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

10 / 100

Minimal Transit

It may be possible to get on a bus

Frequently Asked Questions about Cheap Lima Apartments

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

The lowest price for a Cheap One Bedroom Lima Apartment is $700 at Mt. Vernon Village.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lima is starting from $595 at 43 Town Square.

What is the most affordable Lima Three Bedroom Apartment?

The best deal on a cheap Lima Three Bedroom Apartment rental is at Mt. Vernon Village and starts from $1,000.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.