Cheap Apartments for Rent in New Albany, IN from $300 (104 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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property at 337 E 15th St

$925

Total Monthly Price

Total Monthly Price

Base Rent
$925
Total Monthly Price
$925

1 Bedroom, 1 Bath Home for Rent

Available Now

337 E 15th St, Unit #2, Unit #2

337 E 15th St
New AlbanyIN47150

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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property at 508 Vincennes St

$995 - $1,195

1 To 3 Bedroom Rentals

Available Now

508 Vincennes St

New AlbanyIN47150
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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
  • Utilities Included

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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St Edward Court
1 to 3 Bedroom Apartments

St Edward Court

701 E Spring StNew Albany, IN 47150
  • Utilities Included
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The Monroe
1 to 2 Bedroom Apartments

The Monroe

940 University Woods DrNew Albany, IN 47150
Corporate Housing
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Lone Star Apartments
2 Bedroom Apartments

Lone Star Apartments

1637 Old Ford RdNew Albany, IN 47150
  • Utilities Included
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Lancaster Lofts
1 Bedroom Apartments

Lancaster Lofts

1637 E Market StNew Albany, IN 47150
  • Utilities Included
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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
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Arbor Place Apartments
1 to 2 Bedroom Apartments

Arbor Place Apartments

200 Arbor PlNew Albany, IN 47150
  • Utilities Included

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.

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High Park Apartments
2 Bedroom Apartments

High Park Apartments

100 High Park DrNew Albany, IN 47150
  • Utilities Included

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.

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New Albany, IN Local Guide

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Staff Writer
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 Southern Indiana neighborhood priced from $200. Brookview Glen in the Downtown New Albany neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $699. 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$699
Courtyard Apartments1.1A1BR,1BA$702
Willow Grove Apartments1 Bed, 1 Bath Flat1BR,1BA$795
Flats of Greentree8071BR,1BA$845
Kingsfield Luxury ApartmentsOne Bedroom1BR,1BA$850
Townsquare Apartmentsgarden apartment1BR,1BA$875

Best Value Apartments for Rent in New Albany, IN

As of April 11, 2026 the best value apartment in the New Albany area is the $0.68 price per square foot 3 Bed 2 Bath Single Section Model at Wellington Green in the in the Southern Indiana neighborhood starting from $1,059. The second greatest value New Albany apartment is the 6 Model at Adelyn Apartments starting at $1,195 with a $1.07 price per square foot in the Southern Indiana 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.
Wellington Green3 Bed 2 Bath Single Section3BR,2BA$0.68
Adelyn Apartments62BR,2BA$1.07
Huntley Ridge New Albany2 Bedroom 1 Bathroom2BR,1BA$0.94
Plaza Square Apartments2x12BR,1BA$1.00
Huntley Ridge TownhomesNorfolk Townhome2BR,1.5BA$0.99
Valley RidgeTwo Bedroom Townhome2BR,1BA$1.03
Kingsfield Luxury ApartmentsOne Bedroom1BR,1BA$0.94
2614 W Jefferson St, Unit 42614 W Jefferson St2BR,1BA$1.07
3124 Vermont Ave3124 Vermont Ave1BR,1BA$1.07
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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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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!

Explore New Albany, IN Rentals by Map

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See the most popular apartments and homes in New Albany, IN

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Frequently Asked Questions about Cheap New Albany Apartments

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 $845 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 Wellington Green and starts from $1,059.

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 The 10 Best Affordable Neighborhoods for Renting in Louisville, KY article

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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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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.