Cheap Homes for Rent in Monterey, IN from $300 (15 Rentals)

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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.

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Monterey, IN Local Guide

Cheapest Available Monterey Apartments for Rent and Nearby

 

The cheapest available apartment rental in Monterey, IN is a Studio unit found at 900 North St priced from $599. Pechewa Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here is today’s list of the most affordable Monterey apartments for rent:

Apartment ListingModel NameBed/BathPriced From
900 North StStudioStudio,1BA$599
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$699
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 September 06, 2025 the best value apartment in the Monterey area is the $1.33 price per square foot Haydenwood w/ Sunroom Model at Redwood Warsaw in the starting from $2,149. The second greatest value Monterey apartment is the 2B2B SENIOR Model at Wabash River Commons starting at $1,145 with a $1.18 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.
Redwood WarsawHaydenwood w/ Sunroom2BR,2BA$1.33
Wabash River Commons2B2B SENIOR2BR,2BA$1.18
Kuder EstatesTwo Bedroom One Bathroom2BR,1BA$1.03
Fox Village Apartment Homes2B/1B2BR,1BA$1.06
Lakeland Villa Apartments2 x 1 washer/dryer2BR,1BA$1.16
Centennial CrossingTraditional 2x22BR,2BA$1.35
Mallard and HI-TEC ApartmentsTwo bedroom/1 bath2BR,1BA$1.09
900 North StStudioStudio ,1BA$0.86
MILLSTONE APARTMENTS1 bedroom1BR,1BA$1.12
Pechewa PlaceDownstairs Single Story Building 1 Bedroom1BR,1BA$1.33

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

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Frequently Asked Questions about Monterey

What type of rentals are currently available in Monterey?

There are currently 37 Apartments for Rent in Monterey, IN with pricing that ranges from $386 to $3,167. There are also 39 Single Family Homes for rent, Condos, and Townhome rentals currently available in Monterey ranging from $285 to $3,100.

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 $285 to $3,100 with an average monthly rent of $1,202.

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 $3,167, while Three Bedroom Homes, Condos, and Townhomes for rent range from $375 to $2,200. Four Bedroom Single-Family rentals are also available starting from $1,450 and Four Bedroom Apartments start at $1,560.

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.

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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.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.