Cheap Apartments for Rent in the Downtown New Albany Neighborhood of New Albany, IN from $600 (53 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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1743 Culbertson Ave
1 Bedroom Apartments

1743 Culbertson Ave

1743 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

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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property at 123 S 46th St

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

2 Bedroom, 1 Bath Home for Rent

Available Now

123 S 46th St

LouisvilleKY40212
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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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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
Spring Manor Apartments2BR/1.0BA2BR,1BA$895
Jefferson Properties2bd Apartment2BR,1BA$900
Huntley Ridge New AlbanyWillow2BR,1BA$935

Best Value Apartments for Rent in Downtown New Albany, IN

As of August 09, 2026 the best value apartment in the Downtown New Albany area is the $1.02 price per square foot Three Bedroom Townhome Model at Valley Ridge in the in the New Albany neighborhood starting from $1,161. The second greatest value Downtown New Albany apartment is the Willow Model at Huntley Ridge New Albany starting at $935 with a $0.94 price per square foot in the 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.
Valley RidgeThree Bedroom Townhome3BR,1BA$1.02
Huntley Ridge New AlbanyWillow2BR,1BA$0.94
Sheffield SquareOne Bedroom One Bath1BR,1BA$1.05
Villas at Green Valley1 Bed 1 Bath1BR,1BA$1.16
Jefferson Properties3bd Apartment3BR,1BA$1.17
Maple Grove Apartments2 Bed, 1 Bath Flat with W/D Hook-Ups2BR,1BA$1.11
2433 Slevin St, Unit 22433 Slevin St3BR,1BA$1.03
3149 Vermont Ave, Unit 43149 Vermont Ave2BR,1BA$1.00
2614 W Jefferson St, Unit 42614 W Jefferson St2BR,1BA$1.07
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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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 a cheap apartment in Downtown New Albany?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown New Albany is under $935.

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 $1,035.

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 14 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 $608 which is $427 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.

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

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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

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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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Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

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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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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.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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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

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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.