Cheap Apartments for Rent in Lincoln, NE from $400 (286 Rentals)

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

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 749 New Hampshire St

$700 - $1,200

Total Monthly Price

Total Monthly Price

Base Rent
$700 - $1,200
Total Monthly Price
$700 - $1,200

1 To 2 Bedroom Homes for Rent

Available Now

749 New Hampshire St

LincolnNE68508
property at 4350 S 48th St

$750 - $825

1 Bedroom Rentals

Available Now

4350 S 48th St

LincolnNE68516

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 2611 A St

$800 - $1,450

1 To 2 Bedroom Rentals

Available Now

2611 A St

LincolnNE68502

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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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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property at 1626 B St

$899

2 Bedroom Rentals

Available Aug 15

1626 B St

LincolnNE68502
property at 740 Y St

$900 - $1,350

2 To 3 Bedroom Rentals

Available Now

740 Y St

LincolnNE68508

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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Lincoln, NE Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Lincoln, NE

Pricing Updated: 07/30/2026

Current apartment rentals in the Lincoln, NE area range in price from $250 to $4,495 with an overall median price of $1,758. The three Lincoln neighborhoods with the lowest median rent pricing are Everett at $700, Near South at $600, and Downtown Lincoln at $250. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lincoln Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Everett$850$7004
Near South$974$6007
Downtown Lincoln$975$250107
South 48th Street$1,181$7952
Capitol Beach$1,307$539113
Malone$1,349$25030
Highlands$1,395$539150
West Lincoln$1,425$539168
Western Lincoln$1,460$250319
40th A$1,475$250101

Cheapest Available Lincoln Apartments for Rent

 

The cheapest available apartment rental in Lincoln, NE is a 1 Bed unit found at Capitol View Tower Apartments - Seniors 62+ in the Haymarket neighborhood priced from $250. 4912 Cleveland Ave in the University Place neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $595. Here is today’s list of the most affordable Lincoln apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Capitol View Tower Apartments - Seniors 62+1 Bed, 1 bath1BR,1BA$250
4912 Cleveland Ave1 Beds, 1 Baths1BR,1BA$595
1123 F St1 Beds, 1 Baths1BR,1BA$599
1724 D St1 Beds, 1 Baths1BR,1BA$639
1315 F St1 Beds, 1 Baths1BR,1BA$650
648 S 12th - 12H Apartments0BR/1.0BAStudio,1BA$650
1730 G St1 Beds, 1 Baths1BR,1BA$650
640 S 12th - 12H Apartments0BR/1.0BAStudio,1BA$650
1215 Peach St0 Beds, 1 BathsStudio,1BA$665
1414 C St0 Beds, 1 BathsStudio,1BA$695

Best Value Apartments for Rent in Lincoln, NE

As of July 30, 2026 the best value apartment in the Lincoln area is the $0.87 price per square foot 4945 Walker Ave Model at 4945 Walker Ave, Unit Apt1 in the in the Taylor Park neighborhood starting from $1,749. The second greatest value Lincoln apartment is the C - 3x3 Model at The Quarters Lincoln starting at $690 with a $0.64 price per square foot in the Highlands neighborhood. Here is today’s list of the best values for Lincoln apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
4945 Walker Ave, Unit Apt14945 Walker Ave4BR,2BA$0.87
The Quarters LincolnC - 3x33BR,3BA$0.64
The Parkhaus - Leasing By BedroomSoze4BR,2BA$0.60
1207 D St, Unit #21207 D St2BR,1BA$0.87
335 S 26th St2 Beds, 1 Baths2BR,1BA$1.04
1712 Prospect St, Unit 17121712 Prospect St1BR,1BA$0.90
2501 E St1 Beds, 1 Baths1BR,1BA$0.93
1123 F St2 Beds, 1 Baths2BR,1BA$0.93
1701 Burnham St2 Beds, 1 Baths2BR,1BA$1.02
Capitol View Tower Apartments - Seniors 62+1 Bed, 1 bath1BR,1BA$0.43

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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Lincoln Overview

Lincoln is a city that has a rich history and a vibrant modern cultural tradition. It makes for a great place to pursue higher education or to pursue jobs in government, manufacturing, or technology. Living in Lincoln is also very affordable compared to other metropolitan areas.

Why live in Lincoln, NE?

Lincoln caters to a diverse array of tastes. Music lovers can enjoy numerous live music venues while theater goers can enjoy touring Broadway shows and local productions. Those who love the outdoors have over 125 parks to lose themselves in while sports superfans can enjoy watching many different games at the University of Nebraska. Those seeking higher education can attend that university or one of the eight other colleges and universities in the surrounding area.

Lincoln, NE
Population: 287,401

Ranked #70

in US Census Population by City

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Best Local Schools in
Lincoln, NE

School data provided by Great Schools

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

Explore Lincoln, NE Rentals by Map

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See the most popular apartments and homes in Lincoln, NE

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Frequently Asked Questions about Cheap Lincoln Apartments

What is a cheap apartment in Lincoln?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lincoln is under $695.

What is the price of a cheap apartment in Lincoln?

The cheapest apartment in Lincoln is Capitol View Tower Apartments - Seniors 62+ which is listed at $250, while the average apartment in Lincoln costs $1,758.

What types of apartments are the cheapest in Lincoln?

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 611 regular apartments in Lincoln 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 Lincoln?

Cheap apartments in Lincoln have an average cost of $458 which is $1,300 cheaper than the average rent for all rentals in Lincoln.

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 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.

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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.