Cheap Apartments for Rent in Muncie, IL from $500 (36 Rentals)

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

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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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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705 W Elm St
Studio to 4 Bedroom Apartments

705 W Elm St

705 W Elm StUrbana, IL 61801
Corporate Housing
  • Utilities Included
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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
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2204 Alpha Dr
1 Bedroom Apartments

2204 Alpha Dr

2204 Alpha DrDanville, IL 61832

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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106 N gregory
1 Bedroom Apartments

106 N gregory

106 N Gregory StUrbana, IL 61801
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Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-36, Page 1 of 1

Muncie, IL Local Guide

Cheapest Available Muncie Apartments for Rent and Nearby

 

The cheapest available apartment rental in Muncie, IL is a 1 Bed unit found at Brookhaven priced from $717. Waterview Estates has the second lowest priced unit, which is a 1 Bed apartment currently listed from $730. Here is today’s list of the most affordable Muncie apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brookhaven1 Bed/ 1 Bath1BR,1BA$717
Waterview Estates1x1Waterview Estates1BR,1BA$730
The Verander1Br1BR,1BA$732
Golfview VillageThe Gilmore2BR,1BA$750
Bailey Student Apartments Available 2026!901 W Springfield1BR,1BA$750
The Grove1BR1BR,1BA$783
Townway Place1 Beds, 1 Baths1BR,1BA$795
Urbana Estates1x1Urbana Estates1BR,1BA$800
Town & Country ApartmentsCamden1BR,1BA$844
Aspen CourtThe Beech1BR,1BA$847

Best Value Apartments for Rent in Muncie, IL and Nearby

As of April 22, 2026 the best value apartment in the Muncie area is the $1.07 price per square foot 2 Bedroom/2.5 bath Model at 200 Vine St in the starting from $1,675. The second greatest value Muncie apartment is the 2 Bed 2 Bath Private Entry Model at Devonshire Village starting at $1,450 with a $1.21 price per square foot . Here is today’s list of the best values for Muncie apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Devonshire Village2 Bed 2 Bath Private Entry2BR,2BA$1.21
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Golfview VillageThe Gilmore2BR,1.5BA$0.75
The Linc Apartments2x22BR,2BA$0.88
University ParkTwo Bedroom2BR,1BA$1.17
808 N Lincoln Ave2 Bed / 1 Bath2BR,1BA$1.24
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
Waterview Estates1x1Waterview Estates1BR,1BA$1.09
Urbana Estates1x1Urbana Estates1BR,1BA$1.22

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

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 Muncie, IL Rentals by Map

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See the most popular apartments and homes in Muncie, IL

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Frequently Asked Questions about Cheap Muncie Apartments

What is the Cheapest Studio apartment in Muncie?

Currently the most affordable Cheap Studio Apartment in Muncie is at The Verander listed at $842.

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

The lowest price for a Cheap One Bedroom Muncie Apartment is $717 at Brookhaven.

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

Today's best deal for a Cheap Two Bedroom Apartment in Muncie is starting from $750 at Golfview Village.

What is the most affordable Muncie Three Bedroom Apartment?

The best deal on a cheap Muncie Three Bedroom Apartment rental is at Golfview Village and starts from $830.

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

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.