Cheap Homes for Rent in Monterey, IN from $300 (10 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.

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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 1 Bed unit found at Pechewa Place priced from $599. MILLSTONE APARTMENTS has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Monterey apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$599
MILLSTONE APARTMENTS1 bedroom1BR,1BA$750
Courts of Colfax ApartmentsWinonaStudio,1BA$750

Best Value Apartments for Rent in Monterey, IN and Nearby

As of December 12, 2025 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 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.
The Villas at County Farm CrossingPhase 22BR,2BA$1.36
Wabash River Commons2B2B TOWNHOME2BR,2BA$1.19
The Fields of New Durham Apartment Homes2B Pond2BR,2BA$1.23
MILLSTONE APARTMENTS3 bedroom3BR,2BA$1.24
Northpointe/Lakepointe Apartment HomesL- 2x12BR,1BA$1.04
Culver DunesTraditional Apartments2BR,2BA$1.18
Lakeview Apartments2 Beds, 1 bath2BR,1BA$1.08
Centennial CrossingTraditional 2x22BR,2BA$1.35
Hilltop Ridge1 Bed, 1 bath1BR,1BA$1.22
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$1.00

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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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 Monterey, IN Rentals by Map

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Frequently Asked Questions about Monterey

What type of rentals are currently available in Monterey?

There are currently 40 Apartments for Rent in Monterey, IN with pricing that ranges from $498 to $2,820. There are also 32 Single Family Homes for rent, Condos, and Townhome rentals currently available in Monterey ranging from $295 to $1,750.

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 $1,750 with an average monthly rent of $1,115.

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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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! 

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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.