Cheap Apartments for Rent in New Albany, IN from $495 (92 Rentals)

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

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

There's more to Louisville than the Kentucky Derby. Get a local insider's take on the best bourbon tours, dining, music venues, horse racing, and cultural experiences the city has to offer.

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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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1737 Culbertson Ave
1 Bedroom Apartments

1737 Culbertson Ave

1737 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

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

Stop driving and start living! We highlight the best Louisville neighborhoods—from Beechmont to Audubon Park—with great rentals near top job providers.

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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
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Lancaster Lofts
1 Bedroom Apartments

Lancaster Lofts

1637 E Market StNew Albany, IN 47150
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2431 Saint Xavier St, Unit 3
$675
Total Monthly Price

Total Monthly Price

Base Rent
$675
Total Monthly Price
$675
1 Bedroom Apartment Available Now

2431 Saint Xavier St, Unit 3

2431 Saint Xavier StLouisville, KY 40212
Affordability
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property at 4140 W Broadway

$695 - $1,300

1 To 2 Bedroom Rentals

Available Now

4140 W Broadway

LouisvilleKY40211

Louisville's Best Affordable Neighborhoods

Learn about Louisville with original content written by our Louisville, KY Local Expert, Mike Heuer

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property at 2717 Slevin St

$750 - $1,100

1 To 3 Bedroom Rentals

Available Now

2717 Slevin St

LouisvilleKY40212

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
Courtyard Apartments1.1B1BR,1BA$739
Elm Grove ApartmentsStudio1BR,1BA$765
Valley RidgeTwo Bedroom Townhome2BR,1BA$781
Flats of Greentree1 Bedroom1BR,1BA$795

Best Value Apartments for Rent in New Albany, IN

As of August 25, 2026 the best value apartment in the New Albany area is the $0.89 price per square foot 3 Bedroom 2 Bath Model at Knobs Pointe Apartments in the in the New Albany neighborhood starting from $1,425. The second greatest value New Albany apartment is the 2BR/2.0BA Model at Lochwood starting at $1,365 with a $0.91 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.
Knobs Pointe Apartments3 Bedroom 2 Bath3BR,2BA$0.89
Lochwood2BR/2.0BA2BR,2BA$0.91
Valley RidgeThree Bedroom Townhome3BR,1BA$1.02
Plaza Square Apartments2x12BR,1BA$1.00
904 E Main St, Unit Seven904 E Main St1BR,1BA$1.00
Huntley Ridge ClarksvilleMaple1BR,1BA$1.00
2433 Slevin St, Unit 22433 Slevin St3BR,1BA$1.03
3149 Vermont Ave, Unit 43149 Vermont Ave2BR,1BA$1.00
3124 Vermont Ave, Unit 13124 Vermont Ave1BR,1BA$1.00
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 $781 at Valley Ridge.

What is the most affordable New Albany Three Bedroom Apartment?

The best deal on a cheap New Albany Three Bedroom Apartment rental is at Valley Ridge and starts from $1,161.

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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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.

decorative image for Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers article

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.

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

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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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.

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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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.

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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.