Cheap Apartments for Rent near Morristown, IN from $400 (55 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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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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Indy 7925
Rent Specials
$1,164 - $1,780
Total Monthly Price

Total Monthly Price

Base Rent
$1,164 - $1,780
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Indy 7925

7925 Palawan DrIndianapolis, IN 46239
Corporate Housing
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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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property at 202 E Taylor St

$525 - $645

1 Bedroom Rentals

Available Now

202 E Taylor St

ShelbyvilleIN46176
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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
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Freeman Apartments
1 to 2 Bedroom Apartments

Freeman Apartments

9117 Briergate CtIndianapolis, IN 46229
  • Utilities Included

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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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. Academy Place Apartments in the Henry County neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Morristown apartments for rent:

Apartment ListingModel NameBed/BathPriced From
LINCOLN PARK APARTMENTSStudioStudio,1BA$645
Academy Place Apartments1 BR 1 Bath1BR,1BA$675
Elmtree ParkStudio 1 BathStudio,1BA$695
Willowood EastStudioStudio,1BA$760
Spanish OaksStudioStudio,1BA$775
523 Miller Ave1BR/1.0BA1BR,1BA$775
English Village ApartmentsINEGV 1x1 615sqft - Classic1BR,1BA$850
Knoll Ridge Townhomes1 Bed, 1 Bath1BR,1BA$850
StonehengeStudioStudio,1BA$875
The Vineyards Apartment HomesStudio ClassicStudio,1BA$889

Best Value Apartments for Rent in Morristown, IN and Nearby

As of July 29, 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 2 Bed/2 Bath Up Model at Greenfield Knoll Apartments starting at $1,329 with a $1.11 price per square foot . 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
Greenfield Knoll Apartments2 Bed/2 Bath Up2BR,2BA$1.11
RUSHVILLE VILLAS2 BED 2 BATH2BR,2BA$1.03
Knightstown Villas3 Bed 2 Bath3BR,2BA$1.12
Reflections I2x1 60%cs2BR,1BA$1.13
Martin Estates ApartmentsTwo Bedroom One Bath2BR,1BA$1.04
The Life at Belhaven Place2 Bed 2 Bath2BR,2BA$1.25
Water Dance Apartments2BR/1BA2BR,1BA$1.27
Academy Place Apartments1 BR 1 Bath1BR,1BA$0.79
LINCOLN PARK APARTMENTSStudioStudio ,1BA$0.81

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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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!

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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 $675 at Academy Place Apartments.

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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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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.