Cheap Homes for Rent in Muncie, IN from $500 (26 Rentals)

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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.

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.

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.

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Muncie, IN Local Guide

Cheapest Neighborhoods for Apartments in Muncie, IN

Pricing Updated: 01/24/2026

Current apartment rentals in the Muncie, IN area range in price from $350 to $1,871 with an overall median price of $1,400. The three Muncie neighborhoods with the lowest median rent pricing are Downtown Muncie at $595, North Muncie at $350, and School at $595. Here is today’s list of the top 5 neighborhoods with the lowest median pricing for Muncie Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Muncie$1,400$59555
North Muncie$1,400$350198
School$1,400$59532
South Muncie$1,400$55062
Westacres$1,400$350128

Cheapest Available Muncie Apartments for Rent

 

The cheapest available apartment rental in Muncie, IN is a 4 Beds unit found at The Haven in the Westacres neighborhood priced from $540. Yugo Muncie Varsity House in the Westacres neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $569. Here is today’s list of the most affordable Muncie apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Haven4x44BR,4BA$540
Yugo Muncie Varsity House3 Bed, 3 Bath Classic Renovated3BR,3BA$569
ApplegateStudioStudio,1BA$644
Kensington Apartments1/1 B1BR,1BA$700
Wilson School ApartmentsHistoric Vibe on Muncie's Southside1BR,1BA$725
Arrasmith Apartments1BR/1.0BA1BR,1BA$750
Flats at West EndStudioStudio,1BA$760
Freedom Acres MHCBlazer Extreme2BR,1BA$829
Normandy ApartmentsEscape the Basic, Discover the Premium, at Norm...1BR,1BA$850

Best Value Apartments for Rent in Muncie, IN

As of January 25, 2026 the best value apartment in the Muncie area is the $0.62 price per square foot 2BD/2BA Furnished Premium Model at University Village in the in the Westacres neighborhood starting from $809. The second greatest value Muncie apartment is the Near The Village With a Balcony Model at District on Wayne starting at $1,300 with a $1.18 price per square foot in the School neighborhood. 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.
University Village2BD/2BA Furnished Premium2BR,2BA$0.62
District on WayneNear The Village With a Balcony3BR,2BA$1.18
Delaware AcresIntuition3BR,2BA$1.02
Silvertree CommunitiesEverbrook Townhomes2BR,1.5BA$0.70
The Latitude Apartments2x2 Upgrade2BR,2BA$1.15
Yugo Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.90
Arrasmith Apartments1BR/1.0BA1BR,1BA$0.90
424 Lofts1 bedroom1BR,1BA$1.09
Freedom Acres MHCBlazer Extreme2BR,1BA$1.08
Wilson School ApartmentsHistoric Vibe on Muncie's Southside1BR,1BA$1.12

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!

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Frequently Asked Questions about Muncie

What type of rentals are currently available in Muncie?

There are currently 197 Apartments for Rent in Muncie, IN with pricing that ranges from $350 to $1,871. There are also 111 Single Family Homes for rent, Condos, and Townhome rentals currently available in Muncie ranging from $500 to $2,000.

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 $500 to $2,000 with an average monthly rent of $1,230.

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 $350 to $1,737, while Three Bedroom Homes, Condos, and Townhomes for rent range from $675 to $1,700. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $350.

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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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.