Cheap Apartments for Rent in New Castle, IN from $300 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in New Castle.

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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Autumn Oaks
1 to 3 Bedroom Apartments

Autumn Oaks

100 Autumn Oaks BlvdNew Castle, IN 47362
Corporate Housing

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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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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The Crossings
Studio to 2 Bedroom Apartments

The Crossings

3600 Western AveConnersville, IN 47331
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Harter House
Studio to 1 Bedroom Apartments

Harter House

600 Main StAnderson, IN 46016
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The Orchard
Studio to 3 Bedroom Apartments

The Orchard

720 W Centennial AveMuncie, IN 47303

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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Hoosier Woods
1 to 4 Bedroom Apartments

Hoosier Woods

3833 Hoosier Woods CtAnderson, IN 46013
Showing Results 1-29, Page 1 of 1

New Castle, IN Local Guide

Cheapest Available New Castle Apartments for Rent and Nearby

 

The cheapest available apartment rental in New Castle, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior in the Anderson neighborhood priced from $250. Muncie Varsity House in the Westacres neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $569. Here is today’s list of the most affordable New Castle apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
Muncie Varsity House3 Bed, 3 Bath Plus3BR,3BA$569
The CrossingsStudioStudio,1BA$610
Labor Center Lofts1BR/1.0BA1BR,1BA$660
Beckford PlaceStudioStudio,1BA$725
Grand Avenue Commons1 Bed, 1 bath1BR,1BA$729
Jamestown VillageA2 Thomas Jefferson1BR,1BA$779
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790

Best Value Apartments for Rent in New Castle, IN and Nearby

As of July 24, 2026 the best value apartment in the New Castle area is the $1.06 price per square foot 3x1.5 R-Prem Model at Villages on Madison Apartments in the in the Anderson neighborhood starting from $1,390. The second greatest value New Castle apartment is the Blazer 76 4A Model at Golden Pebble Estates starting at $1,374 with a $1.13 price per square foot in the Henry County neighborhood. Here is today’s list of the best values for New Castle apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Villages on Madison Apartments3x1.5 R-Prem3BR,1.5BA$1.06
Golden Pebble EstatesBlazer 76 4A4BR,2BA$1.13
The Latitude Apartments3x2 Renovated3BR,2BA$1.14
300 S 12th St, Unit 1300 S 12th St2BR,1BA$0.85
Silvertree CommunitiesEverbrook Townhomes2BR,1.5BA$0.70
Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.67
424 Lofts1 bedroom1BR,1BA$1.09
Labor Center Lofts1BR/1.0BA1BR,1BA$0.85
Grand Avenue Commons1 Bed, 1 bath1BR,1BA$1.04
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore New Castle, IN Rentals by Map

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Frequently Asked Questions about Cheap New Castle Apartments

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

The lowest price for a Cheap One Bedroom New Castle Apartment is $250 at The Towers at Southdale Affordable Senior.

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

Today's best deal for a Cheap Two Bedroom Apartment in New Castle is starting from $569 at Muncie Varsity House.

What is the most affordable New Castle Three Bedroom Apartment?

The best deal on a cheap New Castle Three Bedroom Apartment rental is at Muncie Varsity House and starts from $569.

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

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

Written by: Robin Stewart

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

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.