Cheap Apartments for Rent in the Downtown New Albany Neighborhood of New Albany, IN from $600 (62 Rentals)

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

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 2718 W Jefferson St

$699

Total Monthly Price

Total Monthly Price

Base Rent
$699
Total Monthly Price
$699

1 Bedroom, 1 Bath Home for Rent

Available Now

2718 W Jefferson St

LouisvilleKY40212
property at 2925 Slevin St

$775

Total Monthly Price

Total Monthly Price

Base Rent
$775
Total Monthly Price
$775

2 Bedroom, 1 Bath Home for Rent

Available Now

2925 Slevin St

LouisvilleKY40212

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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property at 316 N 22nd St

$795 - $875

1 To 2 Bedroom Rentals

Available Now

316 N 22nd St

LouisvilleKY40212
property at 421 S 27th St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

2 Bedroom, 1 Bath Home for Rent

Available Now

421 S 27th St

LouisvilleKY40212

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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property at 2722 Portland Ave

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Home for Rent

Available Now

2722 Portland Ave

LouisvilleKY40212
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St. Cecilia Apartments
1 Bedroom Apartments

St. Cecilia Apartments

2530 Slevin StLouisville, KY 40212
Senior Living
  • Utilities Included

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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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. Huntley Ridge New Albany has the second lowest priced unit, which is a 1 Bed apartment currently listed from $830. Here are the most affordable Downtown New Albany apartments for rent in Louisville, IN:

Apartment ListingModel NameBed/BathPriced From
Brookview GlenStudioStudio,1BA$719
Huntley Ridge New AlbanyAspen1BR,1BA$830
Jefferson Properties2bd Apartment2BR,1BA$900
Valley RidgeTwo Bedroom Townhome2BR,1BA$1,003
Lancaster LoftsB31BR,1BA$1,066
The BreakwaterAnchorStudio,1BA$1,090

Best Value Apartments for Rent in Downtown New Albany, IN

As of June 19, 2026 the best value apartment in the Downtown New Albany area is the $1.20 price per square foot 3 Bedroom, 2 Bath Model at Montgomery Apartments in the in the Portland neighborhood starting from $1,295. The second greatest value Downtown New Albany apartment is the 731 1/2 Lincoln St Model at 731 1/2 Lincoln St, Unit apartment over shop starting at $750 with a $0.75 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.
Montgomery Apartments3 Bedroom, 2 Bath3BR,2BA$1.20
731 1/2 Lincoln St, Unit apartment over shop731 1/2 Lincoln St2BR,1BA$0.75
Valley RidgeTwo Bedroom Townhome2BR,1BA$1.13
Jefferson Properties3bd Apartment3BR,1BA$1.17
St. James Place Apartments1BR/1.0BA1BR,1BA$1.31
2433 Slevin St, Unit 22433 Slevin St3BR,1BA$1.09
100 N. 33rd St., Apt 3, Unit 3100 N. 33rd St., Apt 31BR,1BA$0.92
Huntley Ridge New AlbanyAspen1BR,1BA$1.11
2614 W Jefferson St, Unit 42614 W Jefferson St2BR,1BA$1.07
3149 Vermont Ave, Unit 3149 Vermont Ave3149 Vermont Ave2BR,1BA$0.99

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 the Cheapest Studio apartment in Downtown New Albany?

Currently the most affordable Cheap Studio Apartment in Downtown New Albany is at Brookview Glen listed at $719.

How much is rent for a Cheap One Bedroom Downtown New Albany Apartment?

The lowest price for a Cheap One Bedroom Downtown New Albany Apartment is $819 at Brookview Glen.

What is the lowest price for a Cheap Two Bedroom Downtown New Albany Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown New Albany is starting from $900 at Jefferson Properties.

What is the most affordable Downtown New Albany Three Bedroom Apartment?

The best deal on a cheap Downtown New Albany Three Bedroom Apartment rental is at Jefferson Properties and starts from $1,056.

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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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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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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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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Bourbon, Baseball, and the Blues: Your Insiders 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.

Articles, How-To's, and Tips

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.