Cheap Apartments for Rent in New Albany, IN from $300 (86 Rentals)

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

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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1743 Culbertson Ave
1 Bedroom Apartments

1743 Culbertson Ave

1743 Culbertson AveNew Albany, IN 47150
  • Utilities Included
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3490 Louise Way
1 to 2 Bedroom Apartments

3490 Louise Way

3490 Louise WayNew Albany, IN 47150
Senior Living
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St Edward Court
1 to 3 Bedroom Apartments

St Edward Court

701 E Spring StNew Albany, IN 47150
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Lone Star Apartments
2 Bedroom Apartments

Lone Star Apartments

1637 Old Ford RdNew Albany, IN 47150
  • Utilities Included

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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Monon Crossing
1 to 4 Bedroom Apartments

Monon Crossing

2710 Grant Line RdNew Albany, IN 47150
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Wynn-Gate Apartments
2 Bedroom Apartments

Wynn-Gate Apartments

81 Wynn Gate CtNew Albany, IN 47150
  • Utilities Included
property at 2718 W Jefferson St

$699

Total Monthly Price

Total Monthly Price

Base Rent
$699
Total Monthly Price
$699

1 Bedroom, 1 Bath Home for Rent

Available Now

2718 W Jefferson St

LouisvilleKY40212

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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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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New Albany, IN Local Guide

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Local Guide Expert

Cheapest Available New Albany Apartments for Rent

 

The cheapest available apartment rental in New Albany, IN is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Clarksville neighborhood priced from $200. Brookview Glen in the New Albany neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $719. Here is today’s list of the most affordable New Albany apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
Brookview GlenStudioStudio,1BA$719
Flats of Greentree1 Bedroom1BR,1BA$795
Courtyard Apartments2.1A2BR,1BA$813
River Chase Apartments1 Bed, 1 Bath Flat1BR,1BA$815
Huntley Ridge ClarksvilleMaple1BR,1BA$830
Huntley Ridge New AlbanyAspen1BR,1BA$830

Best Value Apartments for Rent in New Albany, IN

As of July 11, 2026 the best value apartment in the New Albany area is the $1.06 price per square foot 2BR/1.5BA Model at Lochwood in the in the New Albany neighborhood starting from $1,275. The second greatest value New Albany apartment is the The Arbor Model at Arbor Place Apartments starting at $1,150 with a $0.96 price per square foot in the New Albany neighborhood. Here is today’s list of the best values for New Albany apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lochwood2BR/1.5BA2BR,1.5BA$1.06
Arbor Place ApartmentsThe Arbor2BR,1.5BA$0.96
Valley RidgeThree Bedroom Townhome3BR,1BA$1.02
Adelyn Apartments4229-72BR,2BA$1.03
Plaza Square Apartments2x12BR,1BA$1.00
Courtyard Apartments2.1A2BR,1BA$1.01
Huntley Ridge ClarksvilleMaple1BR,1BA$1.04
The Monroe1 Bedroom and 1 Bathroom1BR,1BA$1.06
3149 Vermont Ave, Unit 3149 Vermont Ave3149 Vermont Ave2BR,1BA$0.99
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

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 Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Louisville, KY | Find Louisville Off-Campus Student Housing at ApartmentHomeLiving.com

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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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New Albany Overview

If you are looking for a peaceful, suburban area to live in with a friendly community, New Albany, IN may be an ideal place to live. New Albany boasts a strong economy, a long history, and an energetic community. Of course, one of its major benefits is that it is so close to major cities such as Louisville, Indianapolis, and Cincinnati. While you will be living in a small, affordable, and safe area, you will have direct access to all the exciting advantages of major cities.

Why live in New Albany, IN?

If you are considering apartments in New Albany, you may have found your perfect new home. New Albany, IN is a close-knit community full of friendly individuals. There is a strong industrial culture, offering many employment opportunities whereas there are plenty more in nearby major cities. Furthermore, you will always have a multitude of things to do as there are restaurants, small shops and boutiques, museums, and community events and programs. One of the most attractive selling points is the fact that apartments and houses are affordable.

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New Albany, IN

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap New Albany Apartments

What is the Cheapest Studio apartment in New Albany?

Currently the most affordable Cheap Studio Apartment in New Albany is at Brookview Glen listed at $719.

How much is rent for a Cheap One Bedroom New Albany Apartment?

The lowest price for a Cheap One Bedroom New Albany Apartment is $200 at Yellowwood Terrace Affordable Senior Housing.

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

Today's best deal for a Cheap Two Bedroom Apartment in New Albany is starting from $813 at Courtyard Apartments.

What is the most affordable New Albany Three Bedroom Apartment?

The best deal on a cheap New Albany Three Bedroom Apartment rental is at Courtyard Apartments and starts from $1,116.

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.

Helpful Local Expert Guides

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The 10 Best Affordable Neighborhoods for Renting in Louisville, KY

Written by: Mike Heuer

Louisville, Kentucky, founded in 1778, has grown to be the largest city in Kentucky and is a terrific city situated right along the south bank of the Ohio River.

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The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

Written by: Mike Heuer

Louisville is a terrific location to get an advanced education at one of its many great colleges and universities.

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Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers

Written by: Mike Heuer

Kentucky is a business-friendly commonwealth, and Louisville is its largest city. It also is home to many great employers who pay well, and their workers have lots of great choices in neighborhoods to rent great apartments.

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Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

Written by: Mike Heuer

Louisville is one great city in which to visit, live, work, and raise a family. It has excellent and reasonably affordable housing, great neighborhoods, and a whole lot more to offer its residents and visitors alike.

Articles, How-To's, and Tips

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.