Cheap Apartments for Rent near Monterey, IN from $400 (33 Rentals)

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

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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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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900 North St
Studio to 1 Bedroom Apartments

900 North St

900 North StLogansport, IN 46947
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The 2525
1 to 4 Bedroom Apartments

The 2525

2525 Durbin StWarsaw, IN 46580
  • Utilities Included

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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Showing Results 1-33, Page 1 of 1

Monterey, IN Local Guide

Cheapest Available Monterey Apartments for Rent and Nearby

 

The cheapest available apartment rental in Monterey, IN is a 1 Bed unit found at Rumely Senior Apartments in the Downtown La Porte neighborhood priced from $700. Pechewa Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $729. Here is today’s list of the most affordable Monterey apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rumely Senior Apartments1 BR / 1 Bath (Hotel side)1BR,1BA$700
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$729
Millstone Apartments1 bedroom1BR,1BA$750
Courts of Colfax ApartmentsWinonaStudio,1BA$750
Hilltop Ridge2 bed 1 bath2BR,1BA$863
Ironwood VillageOne Bedroom1BR,1BA$885
Wabash River Commons1B1B SENIOR1BR,1BA$895
Roselawn Apartments1Bed/1Bath1BR,1BA$900
Mallard and HI-TEC Apartments1 Bed, 1 bath1BR,1BA$965
Northpointe/Lakepointe Apartment HomesG2 - 2x12BR,1BA$989

Best Value Apartments for Rent in Monterey, IN and Nearby

As of July 29, 2026 the best value apartment in the Monterey area is the $1.20 price per square foot 2C Pond Model at The Fields of New Durham Apartment Homes in the starting from $1,360. The second greatest value Monterey apartment is the 3 Bed 1 bath Model at Hilltop Ridge starting at $1,019 with a $1.01 price per square foot . Here is today’s list of the best values for Monterey apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Fields of New Durham Apartment Homes2C Pond2BR,2BA$1.20
Hilltop Ridge3 Bed 1 bath3BR,1BA$1.01
Kuder EstatesTwo Bedroom One Bathroom2BR,1BA$1.09
Northpointe/Lakepointe Apartment HomesG2 - 2x12BR,1BA$1.04
Lakeland Villa Apartments2x12BR,1BA$1.24
Rumely Senior Apartments2 BR / 1 Bath (Annex)2BR,1BA$1.11
Ironwood VillageOne Bedroom1BR,1BA$1.23
Millstone Apartments1 bedroom1BR,1BA$1.12
Courts of Colfax ApartmentsWinonaStudio ,1BA$1.24
Pechewa PlaceDownstairs Single Story Building 1 Bedroom1BR,1BA$1.30

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

Explore Monterey, IN Rentals by Map

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Frequently Asked Questions about Cheap Monterey Apartments

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

The lowest price for a Cheap One Bedroom Monterey Apartment is $700 at Rumely Senior Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Monterey is starting from $850 at Millstone Apartments.

What is the most affordable Monterey Three Bedroom Apartment?

The best deal on a cheap Monterey Three Bedroom Apartment rental is at Hilltop Ridge and starts from $948.

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.

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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.

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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.