Cheap Apartments for Rent in Morristown, IN from $479 (29 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 202 E Taylor St
$525 - $645
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

202 E Taylor St

ShelbyvilleIN46176
property at 129 W Hendricks St
$659 - $675
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

129 W Hendricks St

ShelbyvilleIN46176

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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403-407 E Washington St
1 Bedroom Apartments

403-407 E Washington St

403-407 E Washington StShelbyville, IN 46176
Student Housing
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Elmtree Park
Studio to 2 Bedroom Apartments

Elmtree Park

11023 Elmtree Park DrIndianapolis, IN 46229
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523 Miller Ave
1 Bedroom Apartments

523 Miller Ave

523 Miller AveShelbyville, IN 46176

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.

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Showing Results 1-29, Page 1 of 1

Morristown, IN Local Guide

Cheapest Available Morristown Apartments for Rent and Nearby

 

The cheapest available apartment rental in Morristown, IN is a Studio unit found at LINCOLN PARK APARTMENTS priced from $645. Willowood East in the Southeast Indianapolis neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $760. Here is today’s list of the most affordable Morristown apartments for rent:

Apartment ListingModel NameBed/BathPriced From
LINCOLN PARK APARTMENTSStudioStudio,1BA$645
Willowood EastStudioStudio,1BA$760
Elmtree ParkStudio 1 BathStudio,1BA$765
Spanish OaksStudioStudio,1BA$775
The Vineyards Apartment HomesStudio ClassicStudio,1BA$789
523 Miller Ave1BR/1.0BA1BR,1BA$800
English Village ApartmentsINEGV 1x1 615sqft - Classic1BR,1BA$850
Knoll Ridge Townhomes1 Bed, 1 Bath1BR,1BA$850
StonehengeStudioStudio,1BA$859
Bavarian Village ApartmentsThe Challis 1 BR 1 BA1BR,1BA$897

Best Value Apartments for Rent in Morristown, IN and Nearby

As of September 13, 2026 the best value apartment in the Morristown area is the $1.28 price per square foot 4 Bed, 1.5 bath Townhome Model at Knoll Ridge Townhomes in the in the Southeast Indianapolis neighborhood starting from $1,600. The second greatest value Morristown apartment is the 3 Bed 2 Bath Model at The Life at Belhaven Place starting at $1,550 with a $1.32 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Morristown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Knoll Ridge Townhomes4 Bed, 1.5 bath Townhome4BR,1.5BA$1.28
The Life at Belhaven Place3 Bed 2 Bath3BR,2BA$1.32
Knightstown Villas3 Bed 2 Bath3BR,2BA$1.12
Martin Estates ApartmentsTwo Bedroom One Bath2BR,1BA$1.04
Water Dance Apartments2BR/1BA2BR,1BA$1.27
CrosswindsEarhart2BR,1BA$1.34
LINCOLN PARK APARTMENTSStudioStudio ,1BA$0.81
Warren Harbor ApartmentsThe York1BR,1BA$1.34
116 Chestnut St, Unit 220 Chestnut116 Chestnut St1BR,1BA$1.29
523 Miller Ave1BR/1.0BA1BR,1BA$1.33

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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.

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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 Morristown, IN Rentals by Map

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Frequently Asked Questions about Cheap Morristown Apartments

What is the Cheapest Studio apartment in Morristown?

Currently the most affordable Cheap Studio Apartment in Morristown is at LINCOLN PARK APARTMENTS listed at $645.

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

The lowest price for a Cheap One Bedroom Morristown Apartment is $800 at 523 Miller Ave.

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

Today's best deal for a Cheap Two Bedroom Apartment in Morristown is starting from $970 at Spanish Oaks.

What is the most affordable Morristown Three Bedroom Apartment?

The best deal on a cheap Morristown Three Bedroom Apartment rental is at Knightstown Villas and starts from $1,175.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.