Cheap Apartments for Rent in Monterey, IN from $300 (19 Rentals)

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

Showing Results 1-19, 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 Pechewa Place priced from $599. 900 North St has the second lowest priced unit, which is a Studio apartment currently listed from $599. Here is today’s list of the most affordable Monterey apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$599
900 North StStudioStudio,1BA$599
MILLSTONE APARTMENTS1 bedroom1BR,1BA$750
Wabash River Commons1B1B TRAD1BR,1BA$845
Centennial CrossingSenior Villa 1x11BR,1BA$940

Best Value Apartments for Rent in Monterey, IN and Nearby

As of October 26, 2025 the best value apartment in the Monterey area is the $1.19 price per square foot NOW LEASING!!! BRAND NEW 3 BEDROOM 2 BATHROOM!!! Model at Welcome to Tippe River Downs in the starting from $1,695. The second greatest value Monterey apartment is the 2B2B TOWNHOME Model at Wabash River Commons starting at $1,345 with a $1.19 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.
Welcome to Tippe River DownsNOW LEASING!!! BRAND NEW 3 BEDROOM 2 BATHROOM!!!3BR,2BA$1.19
Wabash River Commons2B2B TOWNHOME2BR,2BA$1.19
The Fields of New Durham Apartment Homes2B Pond2BR,2BA$1.23
Kuder EstatesTwo Bedroom One Bathroom2BR,1BA$1.03
Centennial CrossingTraditional 2x22BR,2BA$1.35
Briarwood Apartments and Villas2 Bedroom/ 2 Bath2BR,2BA$1.35
Viewpointe Apartment HomesJ-2 BD2BR,1BA$1.31
Pechewa PlaceUpstairs 2 Bedroom2BR,1BA$1.00
900 North StStudioStudio ,1BA$0.86
MILLSTONE APARTMENTS1 bedroom1BR,1BA$1.12

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

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Getting Around Monterey, IN

Walk Score®

3 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

31 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $599 at Pechewa Place.

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 $699 at Pechewa Place.

What is the most affordable Monterey Three Bedroom Apartment?

The best deal on a cheap Monterey Three Bedroom Apartment rental is at Wabash River Commons and starts from $1,545.

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.