Cheap Apartments for Rent in the Downtown New Albany Neighborhood of New Albany, IN from $495 (45 Rentals)

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

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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St Edward Court
1 to 3 Bedroom Apartments

St Edward Court

701 E Spring StNew Albany, IN 47150
  • Utilities Included

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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2431 Saint Xavier St, Unit 3
$675

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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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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St. Cecilia Apartments
1 Bedroom Apartments

St. Cecilia Apartments

2530 Slevin StLouisville, KY 40212
Senior Living
  • Utilities Included

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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Rowan Place
1 to 2 Bedroom Apartments

Rowan Place

2132 Rowan StLouisville, KY 40212
Senior Living
  • Utilities Included

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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Showing Results 1-45, Page 1 of 1

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 Studio unit found at Brookview Glen priced from $719. 2411-2415 Charlestown Rd has the second lowest priced unit, which is a 2 Beds apartment currently listed from $895. Here are the most affordable Downtown New Albany apartments for rent in Louisville, IN:

Apartment ListingModel NameBed/BathPriced From
Brookview GlenStudioStudio, 1BA$719
2411-2415 Charlestown Rd2BR/1.0BA2BR, 1BA$895
Jefferson Properties2bd Apartment2BR, 1BA$900
Spring Manor Apartments2BR/1.0BA2BR, 1BA$920
Huntley Ridge New AlbanyWillow2BR, 1BA$1,000
Valley RidgeTwo Bedroom Townhome2BR, 1BA$1,003
Montgomery Apartments2 Bedroom, 1 Bath2BR, 1BA$1,099

Best Value Apartments for Rent in Downtown New Albany, IN

As of September 23, 2026 the best value apartment in the Downtown New Albany area is the $1.23 price per square foot Three Bedroom 1.5 Bath Townhouse Model at Sheffield Square in the New Albany neighborhood starting from $1,599. The second greatest value Downtown New Albany apartment is the Willow Model at Huntley Ridge New Albany in the New Albany neighborhood starting at $1,000 with a $1.00 price per square foot. 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 SquareThree Bedroom 1.5 Bath Townhouse3BR, 1.5BA$1.23
Huntley Ridge New AlbanyWillow2BR, 1BA$1.00
Valley RidgeTwo Bedroom Townhome2BR, 1BA$1.05
Jefferson Properties3bd Apartment3BR, 1BA$1.17
Montgomery Apartments2 Bedroom, 1 Bath2BR, 1BA$1.26
3149 Vermont Ave, Unit 43149 Vermont Ave2BR, 1BA$1.00
2411-2415 Charlestown Rd2BR/1.0BA2BR, 1BA$1.19
818 E Elm St, Unit #1818 E Elm St1BR, 1BA$1.27
Spring Manor Apartments2BR/1.0BA2BR, 1BA$1.30
2431 Saint Xavier St, Unit 32431 Saint Xavier St1BR, 1BA$1.04

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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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

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 Brookview Glen which is listed at $819, while the average apartment in Downtown New Albany costs $1,003.

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 16 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 $580 which is $423 cheaper than the average rent for all rentals in Downtown New Albany.

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.

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

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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

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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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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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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.