Cheap Apartments for Rent in the Downtown New Albany Neighborhood of New Albany, IN from $600 (54 Rentals)

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

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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St Edward Court
1 to 3 Bedroom Apartments

St Edward Court

701 E Spring StNew Albany, IN 47150
  • Utilities Included
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St. James Place
1 to 2 Bedroom Apartments

St. James Place

2239 Charlestown RdNew Albany, IN 47150
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Lancaster Lofts
1 Bedroom Apartments

Lancaster Lofts

1637 E Market StNew Albany, IN 47150
  • 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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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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St. Cecilia Apartments
1 Bedroom Apartments

St. Cecilia Apartments

2530 Slevin StLouisville, KY 40212
Senior Living
  • 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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Rowan Place
1 to 2 Bedroom Apartments

Rowan Place

2132 Rowan StLouisville, KY 40212
Senior Living
  • 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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Downtown New Albany, New Albany, IN Local Guide

Cheapest Available Downtown New Albany Apartments for Rent

 

The cheapest available apartment rental in the Downtown New Albany area of Louisville, IN is a 1 Bed unit found at 1743 Culbertson Ave priced from $700. Brookview Glen has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Downtown New Albany apartments for rent in Louisville, IN:

Apartment ListingModel NameBed/BathPriced From
1743 Culbertson Ave1 Beds, 1 Baths1BR,1BA$700
Brookview GlenOne Bedroom1BR,1BA$799
Lancaster LoftsM1BR,1BA$916
Jefferson Properties2bd2BR,1BA$917
Huntley Ridge New Albany2 Bedroom 1 Bathroom2BR,1BA$943

Best Value Apartments for Rent in Downtown New Albany, IN

As of November 03, 2025 the best value apartment in the Downtown New Albany area is the $1.08 price per square foot Two Bedroom 1.5 Bath Townhouse Model at Sheffield Square in the in the Downtown New Albany neighborhood starting from $1,227. The second greatest value Downtown New Albany apartment is the Villa 2 Bedroom Model at The Villas At Green Valley starting at $1,295 with a $1.20 price per square foot in the Downtown New Albany neighborhood. Here is today’s list of the best values for Downtown New Albany apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sheffield SquareTwo Bedroom 1.5 Bath Townhouse2BR,1.5BA$1.08
The Villas At Green ValleyVilla 2 Bedroom2BR,2BA$1.20
Jefferson Properties3bd apartment3BR,1BA$1.17
1608 Dewey St, Unit 2-3mg1608 Dewey St2BR,1BA$1.12
2433 Slevin St, Unit 42433 Slevin St2BR,1BA$1.01
Brookview GlenOne Bedroom1BR,1BA$1.17
1900 Bono Rd1900 Bono Rd1BR,1BA$1.15
703 E Oak St, Unit 2-1703 E Oak St1BR,1BA$1.19
115 N 46th St, Unit 4115 N 46th St1BR,1BA$1.33
1743 Culbertson Ave1 Beds, 1 Baths1BR,1BA$1.27

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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Pet Friendly Lifestyle
Downtown New Albany, New Albany, IN

Ranked #1

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Downtown New Albany, New Albany, IN

School data provided by Great Schools

Getting Around the Downtown New Albany Neighborhood in New Albany, IN

Walk Score®

81 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

55 / 100

Bikeable

Some bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Downtown New Albany Apartments

What is the price of a cheap apartment in Downtown New Albany?

The cheapest apartment in Downtown New Albany is 1743 Culbertson Ave which is listed at $700, while the average apartment in Downtown New Albany costs $1,550.

What types of apartments are the cheapest in Downtown New Albany?

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 8 regular apartments in Downtown New Albany 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 Downtown New Albany?

Cheap apartments in Downtown New Albany have an average cost of $638 which is $912 cheaper than the average rent for all rentals in Downtown New Albany.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.