Cheap Apartments for Rent in Montgomery, IN from $500 (29 Rentals)

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

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Ironton at Shoals
1 Bedroom Apartments

Ironton at Shoals

11708 Ironton RdShoals, IN 47581
  • Utilities Included

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Montgomery, IN Local Guide

Cheapest Available Montgomery Apartments for Rent and Nearby

 

The cheapest available apartment rental in Montgomery, IN is a 1 Bed unit found at Ironton at Shoals priced from $700. Southern Meadows Senior Living 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 Montgomery apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ironton at Shoals1 Beds, 1 Baths1BR,1BA$700
Southern Meadows Senior Living1 Bed Apt1BR,1BA$750
Acadia CourtStudioStudio,1BA$760
Canadian Apartments1BR/1.0BA1BR,1BA$800
Sunflower PlaceOne Bed1BR,1BA$800
Woodland Springs1 Bedroom1BR,1BA$925
Summit PointeWoodland1BR,1BA$950
Wabash Riverfront Flats2BR/1.0BA2BR,1BA$995
The EllisThe Ellis - Studio - LIMITED TIME REDUCED RATE!Studio,1BA$999
DunnPark StudiosDunnPark Studios - Ground FloorStudio,1BA$999

Best Value Apartments for Rent in Montgomery, IN and Nearby

As of August 28, 2025 the best value apartment in the Montgomery area is the $1.04 price per square foot 3BR Villa Model at Circle Point Villas in the starting from $1,595. The second greatest value Montgomery apartment is the Three Bedroom Townhome Model at Nile Ridge Townhomes starting at $1,785 with a $1.16 price per square foot in the Downtown Bloomington IN neighborhood. Here is today’s list of the best values for Montgomery apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Circle Point Villas3BR Villa3BR,2BA$1.04
Nile Ridge TownhomesThree Bedroom Townhome3BR,3.5BA$1.16
Sullivan Downtown TownhomesSingle Family Home3BR,2.5BA$1.16
Beacon HillBeacon Hill - 3 Bed/2 Bath3BR,2BA$1.06
Park on Morton2x2 Corner - Classic2BR,2BA$1.19
Vail Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
The League Bloomington10 North 2x2 Penthouse2BR,2BA$0.99
The MonroeB22BR,2BA$1.22
Woodland Springs1 Bedroom1BR,1BA$1.25
Ironton at Shoals1 Beds, 1 Baths1BR,1BA$1.08

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Pet Friendly Lifestyle

Ranked #

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

Pet Friendly

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

Explore Montgomery, IN Rentals by Map

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Getting Around Montgomery, IN

Walk Score®

9 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

33 / 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 Montgomery Apartments

What is the Cheapest Studio apartment in Montgomery?

Currently the most affordable Cheap Studio Apartment in Montgomery is at Acadia Court listed at $760.

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

The lowest price for a Cheap One Bedroom Montgomery Apartment is $700 at Ironton at Shoals.

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

Today's best deal for a Cheap Two Bedroom Apartment in Montgomery is starting from $800 at Southern Meadows Senior Living.

What is the most affordable Montgomery Three Bedroom Apartment?

The best deal on a cheap Montgomery Three Bedroom Apartment rental is at Aspen Bloomington and starts from $1,029.

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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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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.