Cheap Homes for Rent in Downtown New Albany Neighborhood of New Albany, IN from $700 (22 Rentals)

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

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

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.

Read Article

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 121 N 25th St

$995

Total Monthly Price

Total Monthly Price

Base Rent
$995
Total Monthly Price
$995

4 Bedroom, 1 Bath Home for Rent

Available Now

121 N 25th St

LouisvilleKY40212

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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property at 337 E 15th St

$1,000

Total Monthly Price

Total Monthly Price

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

1 Bedroom, 1 Bath Home for Rent

Available Now

337 E 15th St, Unit Unit #2

337 E 15th St
New AlbanyIN47150
Showing Results 1-22, 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 $699. Elm Grove Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here are the most affordable Downtown New Albany apartments for rent in Louisville, IN:

Apartment ListingModel NameBed/BathPriced From
Brookview GlenStudioStudio,1BA$699
Elm Grove Apartments1 Bed, 1 Bath Flat1BR,1BA$775
Willow Grove Apartments1 Bed, 1 Bath Flat1BR,1BA$795
Huntley Ridge New Albany1 Bedroom 1 Bathroom1BR,1BA$870
Jefferson Properties2bd Apartment2BR,1BA$917

Best Value Apartments for Rent in Downtown New Albany, IN

As of March 13, 2026 the best value apartment in the Downtown New Albany area is the $1.07 price per square foot 2BR/2.0BA Model at St. James Place - 1/2 Off First and Last Month's Rent! in the in the Downtown New Albany neighborhood starting from $1,200. The second greatest value Downtown New Albany apartment is the Villa 1 Bedroom Model at The Villas At Green Valley starting at $1,200 with a $1.32 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.
St. James Place - 1/2 Off First and Last Month's Rent!2BR/2.0BA2BR,2BA$1.07
The Villas At Green ValleyVilla 1 Bedroom1BR,1BA$1.32
Jefferson Properties3bd Apartment3BR,1BA$1.17
Montgomery Apartments2 Bedroom, 1 Bath2BR,1BA$1.26
Huntley Ridge New Albany1 Bedroom 1 Bathroom1BR,1BA$1.16
Sheffield SquareOne Bedroom One Bath Ridge1BR,1BA$1.29
2614 W Jefferson St, Unit 42614 W Jefferson St2BR,1BA$1.07
2409 Rowan St, Unit 32409 Rowan St1BR,1BA$1.08
Elm Grove Apartments1 Bed, 1 Bath Flat1BR,1BA$1.19
Willow Grove Apartments1 Bed, 1 Bath Flat1BR,1BA$1.25

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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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 Downtown New Albany

What type of rentals are currently available in Downtown New Albany?

There are currently 119 Apartments for Rent in Downtown New Albany, IN with pricing that ranges from $699 to $1,720. There are also 50 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown New Albany ranging from $779 to $1,850.

What is the current price range for Rental Homes in Downtown New Albany?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown New Albany ranges from $779 to $1,850 with an average monthly rent of $1,258.

How much are larger Three and Four Bedroom Rentals in Downtown New Albany?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown New Albany range from $926 to $1,560, while Three Bedroom Homes, Condos, and Townhomes for rent range from $779 to $1,850. Four Bedroom Single-Family rentals are also available starting from $995 and Four Bedroom Apartments start at $1,289.

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.