Cheap Apartments for Rent in the South Muncie Neighborhood of Muncie, IN from $352 (122 Rentals)

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

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820 W Howard St
$650
Total Monthly Price

Total Monthly Price

Base Rent
$650
Total Monthly Price
$650
1 Bedroom Apartment Available Now

820 W Howard St

820 W Howard StMuncie, IN 47305
Affordability
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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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property at 1400 E 5th St

$675 - $775

1 To 2 Bedroom Rentals

Available Now

1400 E 5th St

MuncieIN47302
property at 626 W Main St

$715 - $900

1 To 3 Bedroom Rentals

Available Now

626 W Main St

MuncieIN47305

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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Labor Center Lofts
$880 - $1,190
Total Monthly Price

Total Monthly Price

Base Rent
$880 - $1,190
Total Monthly Price
$880 - $1,190
1 to 2 Bedroom Apartments Available Now

Labor Center Lofts

1125 S Walnut StMuncie, IN 47302
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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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South Muncie, Muncie, IN Local Guide

Cheapest Available South Muncie Apartments for Rent

 

The cheapest available apartment rental in the South Muncie area of Muncie, IN is a 2 Beds unit found at The Lofts at Roberts priced from $416. 316 S Monroe St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here are the most affordable South Muncie apartments for rent in Muncie, IN:

Apartment ListingModel NameBed/BathPriced From
The Lofts at RobertsThe Liberty2BR,1BA$416
316 S Monroe St1BR/1.0BA1BR,1BA$625
Cole Street Apts: Close to Campus1 Bed Fully Renovated1BR,1BA$720
916 W Jackson St1/11BR,1BA$720
2824 E Memorial Dr2BR/1.0BA2BR,1BA$725
City View Townhomes2 Bedroom Townhome2BR,1BA$838

Best Value Apartments for Rent in South Muncie, IN

As of August 28, 2026 the best value apartment in the South Muncie area is the $0.78 price per square foot 3 Beds, 1 Baths Model at 218 E 8th St in the in the School neighborhood starting from $1,200. The second greatest value South Muncie apartment is the 3x1.5 R Model at Canterbury Townhomes starting at $1,460 with a $1.12 price per square foot in the Westacres neighborhood. Here is today’s list of the best values for South Muncie apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
218 E 8th St3 Beds, 1 Baths3BR,1BA$0.78
Canterbury Townhomes3x1.5 R3BR,1.5BA$1.12
District on WaynePreleasing for August - District on Wayne - Nea...3BR,2BA$1.18
District on Bethel3 Bed 2 Bath - South Tower Vaulted Ceiling3BR,2BA$1.23
City View Townhomes3 bedroom Townhouse3BR,1.5BA$1.02
The Lofts at RobertsThe Liberty2BR,1BA$0.42
Labor Center Lofts1BR/1.0BA1BR,1BA$1.13
Beacon Hill2.1a2BR,1BA$1.21
*Newly Renovated* Premium Style 2-4 BD Apartment Home2 Beds, 1 bath2BR,1BA$0.94
1433 E Main St, Unit Apt 11433 E Main St1BR,1BA$1.23

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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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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Pet Friendly Lifestyle
South Muncie, Muncie, IN

Ranked #3

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Frequently Asked Questions about Cheap South Muncie Apartments

What is a cheap apartment in South Muncie?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Muncie is under $838.

What is the price of a cheap apartment in South Muncie?

The cheapest apartment in South Muncie is 316 S Monroe St which is listed at $625, while the average apartment in South Muncie costs $900.

What types of apartments are the cheapest in South Muncie?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 67 regular apartments in South Muncie that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in South Muncie?

Cheap apartments in South Muncie have an average cost of $421 which is $479 cheaper than the average rent for all rentals in South Muncie.

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

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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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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.