221 Columbia St
WarsawIN46580
Cheap Homes for Rent in Monterey, IN from $300 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Monterey.
3451 W 100 S
WarsawIN46580
3451 W 100 N
WarsawIN46580
362 W 5th St
PeruIN46970
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.
371 W 12th St
PeruIN46970
3001 Oakdale Ave
La PorteIN46350
Quaint 1 Bedroom
403 Henry St
LogansportIN46947
407 Parker St
WarsawIN46580
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.
110 N Union Dr
Winona LakeIN46590
Showing Results 1-9, Page 1 of 1
Monterey, IN Local Guide
Former Erie Railroad depot by Adam Moss is licensed under CC BY 2.0
How much does it cost to rent a home in Monterey?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Monterey 2 Bedroom Homes for Rent | $961 | $350 | $1,250 |
| Monterey 3 Bedroom Homes for Rent | $1,499 | $1,075 | $2,300 |
| Monterey 4 Bedroom Homes for Rent | $1,640 | $1,050 | $2,100 |
| Monterey 6 Bedroom Homes for Rent | $1,800 | $1,800 | $1,800 |
Browse Top Homes for Rent in Monterey
Explore Monterey
Monterey, IN Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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 $729. Courts of Colfax Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here is today’s list of the most affordable Monterey apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Pechewa Place | Upstairs 1 Bedroom | 1BR,1BA | $729 |
| Courts of Colfax Apartments | Winona | Studio,1BA | $750 |
| Millstone Apartments | 2 bedroom 1 bath | 2BR,1BA | $850 |
Best Value Apartments for Rent in Monterey, IN and Nearby
As of May 07, 2026 the best value apartment in the Monterey area is the $1.36 price per square foot Phase 2 Model at The Villas at County Farm Crossing in the starting from $2,450. The second greatest value Monterey apartment is the The Pavilion Model at The Residences at Belleville Park I and II starting at $1,538 with a $1.25 price per square foot in the Rum Village neighborhood. Here is today’s list of the best values for Monterey apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Villas at County Farm Crossing | Phase 2 | 2BR,2BA | $1.36 |
| The Residences at Belleville Park I and II | The Pavilion | 3BR,2BA | $1.25 |
| The Fields of New Durham Apartment Homes | 2B Pond | 2BR,2BA | $1.23 |
| Millstone Apartments | 2 bedroom 1 bath | 2BR,1BA | $0.87 |
| Lakeland Villa Apartments | ***WAIT LIST APPLICATION*** | 2BR,2BA | $1.30 |
| The Square | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.33 |
| The Dunes | One Bed Traditional Apartments | 1BR,1BA | $1.31 |
| Laporte Commons Apartments | Two Bedroom | 2BR,1BA | $1.33 |
| Courts of Colfax Apartments | Winona | Studio ,1BA | $1.24 |
| Pechewa Place | Upstairs 1 Bedroom | 1BR,1BA | $1.22 |
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.
Read Article
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.
Read ArticleQuick 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.
Let everyone know!
Do you know the Monterey area?
If you’re an expert on all things Monterey, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Monterey, IN Rentals by Map
See the most popular apartments and homes in Monterey, IN
Frequently Asked Questions about Monterey
What type of rentals are currently available in Monterey?
There are currently 41 Apartments for Rent in Monterey, IN with pricing that ranges from $498 to $3,338. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Monterey ranging from $295 to $2,300.
What is the current price range for Rental Homes in Monterey?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Monterey ranges from $295 to $2,300 with an average monthly rent of $1,311.
How much are larger Three and Four Bedroom Rentals in Monterey?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Monterey range from $1,225 to $3,338, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,075 to $2,300. Four Bedroom Single-Family rentals are also available starting from $1,050 and Four Bedroom Apartments start at $1,790.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.