Cheap Homes for Rent in Martinsville, IL from $500 (16 Rentals)

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property at 702 S 8th St

$495 - $895

Studio To 3 Bedroom Rentals

Available Now

702 S 8th St

Terre HauteIN47807

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.

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.

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.

property at 611 Ohio St

$900

2 Bedroom Rentals

Available Now

611 Ohio St

Terre HauteIN47807

Martinsville, IL Local Guide

Cheapest Available Martinsville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Martinsville, IL is a 3 Beds unit found at The Millennium Apartments priced from $505. Union Pointe in the Downtown Terre Haute neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $550. Here is today’s list of the most affordable Martinsville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Millennium Apartments3 Bedroom3BR,1BA$505
Union Pointe1 Bedroom1BR,2BA$550
Melrose and Brooklyn Heights Apartments2 Bed 1 Bath2BR,1BA$585
OldeTowne Apartments1 Bed/1 Bath1BR,1BA$629
1905 12th St1BDR1BR,1BA$650

Best Value Apartments for Rent in Martinsville, IL and Nearby

As of January 10, 2026 the best value apartment in the Martinsville area is the $0.99 price per square foot 3 Bed 2.5 Bath Model at Panther Heights in the starting from $1,380. The second greatest value Martinsville apartment is the 3x2 Model at Arbors at Honey Creek starting at $1,170 with a $0.89 price per square foot in the Downtown Terre Haute neighborhood. Here is today’s list of the best values for Martinsville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Panther Heights3 Bed 2.5 Bath3BR,2.5BA$0.99
Arbors at Honey Creek3x23BR,2BA$0.89
The Millennium Apartments3 Bedroom3BR,1BA$0.41
Royal HeightsRoyal Heights 2 Bed w/ Study & 1.5 Bath3BR,1.5BA$0.95
ANTHONY SQUARE SENIOR LIVING2 Bed 1 Bath2BR,1BA$0.94
Springhill Apartments2 Bedroom2BR,1BA$0.98
Willow CrossingsPhase I - Luxury 1 Bed 1 Bath1BR,1BA$1.14
Riverside Apartments2 Bedroom2BR,1BA$1.07
Sycamore Place Apartments2.1 C2BR,1BA$0.80
Union Pointe1 Bedroom1BR,2BA$0.92

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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 Martinsville, IL Rentals by Map

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Frequently Asked Questions about Martinsville

What type of rentals are currently available in Martinsville?

There are currently 44 Apartments for Rent in Martinsville, IL with pricing that ranges from $413 to $2,636. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Martinsville ranging from $550 to $4,500.

What is the current price range for Rental Homes in Martinsville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Martinsville ranges from $550 to $4,500 with an average monthly rent of $1,629.

How much are larger Three and Four Bedroom Rentals in Martinsville?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Martinsville range from $762 to $2,373, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $1,400. Four Bedroom Single-Family rentals are also available starting from $1,300 and Four Bedroom Apartments start at $567.

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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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!