Cheap Homes for Rent near Muncie, IL from $400 (26 Rentals)

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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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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 1-26, 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
2008 S Vawter St4 Beds4BR,2BA$800
Townway Place1 Beds, 1 Baths1BR,1BA$800
Urbana Estates1x1Urbana Estates1BR,1BA$800
The Grove1BR1BR,1BA$816
Town & Country ApartmentsGaslight1BR,1BA$982
Eastland ApartmentsStudio ApartmentStudio,1BA$995
Fairlawn Village1 Bedroom Standard1BR,1BA$1,000

Best Value Apartments for Rent in Muncie, IL and Nearby

As of July 26, 2026 the best value apartment in the Muncie area is the $0.65 price per square foot 3x3 Model at The Linc Apartments in the starting from $738. The second greatest value Muncie apartment is the 2 Bed 2 Bath Sm Apt Model at Devonshire Village starting at $1,206 with a $1.09 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.
The Linc Apartments3x33BR,3BA$0.65
Devonshire Village2 Bed 2 Bath Sm Apt2BR,2BA$1.09
2008 S Vawter St3 Beds3BR,1BA$1.05
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Parkside2 Bedroom 1 Bath 850 SF Upgrade2BR,1BA$1.42
The Grove2BR2BR,1BA$1.35
Waterview Estates1x1Waterview Estates1BR,1BA$1.09
Urbana Estates1x1Urbana Estates1BR,1BA$1.22
Townway Place1 Beds, 1 Baths1BR,1BA$1.33
The AtriumSingle (shared common area)1BR,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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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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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 Muncie

What type of rentals are currently available in Muncie?

There are currently 46 Apartments for Rent in Muncie, IL with pricing that ranges from $525 to $2,700. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Muncie ranging from $475 to $2,250.

What is the current price range for Rental Homes in Muncie?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Muncie ranges from $475 to $2,250 with an average monthly rent of $845.

How much are larger Three and Four Bedroom Rentals in Muncie?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Muncie range from $738 to $2,350, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $2,250. Four Bedroom Single-Family rentals are also available starting from $1,095 and Four Bedroom Apartments start at $637.

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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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.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.