
Cheap Apartments for Rent in Palmyra, IN from $400 (41 Rentals)
Search the lowest-cost Apartments available for rent right now in Palmyra.


Valley Ridge

Mason Manor Apartments

Brookview Glen

Knobs Pointe Apartments

Elm Grove Apartments

Maple Grove Apartments

Locust Grove Apartments
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.

Gaslight Square Apartments

River Grove Apartments

Stone Creek Apartments I & II

Willow Grove Apartments

Courtyard Apartments

Total Monthly Price
Kingsfield Luxury Apartments

Willow Run

The Monroe
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.

Silver Creek Commons East & West

701-709 Etzler Dr

Meadows at Green Tree

Glenview Apartments

Huntley Ridge New Albany

Ashby

Total Monthly Price
Plaza Square Apartments

Heritage Springs Rentals
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.

Klerner Lane Apartments

St. James Place - 1/2 Off First and Last Month's Rent!

Foxtail Pointe

1743 Culbertson Ave

2121 Culbertson Ave

Christ the King Apartments

112 Boston Ct

3416 W Main St
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.

Chapman Crossing

Spring Manor Apartments

655 S 35th St

4435 Parker Ave

High Peaks

Arbor Place Apartments

High Park Apartments

311 N 36th St
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.

127 Boston Ct
Palmyra, IN Local Guide

How much does it cost to rent an apartment in Palmyra?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Palmyra Studio Apartments | $1,038 | $719 | $1,215 |
| Palmyra 1 Bedroom Apartments | $993 | $200 | $1,510 |
| Palmyra 2 Bedroom Apartments | $1,210 | $845 | $1,612 |
| Palmyra 3 Bedroom Apartments | $1,357 | $806 | $1,560 |
Browse Top Apartments in Palmyra
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Palmyra, IN Local Guide
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Cheapest Available Palmyra Apartments for Rent and Nearby
 The cheapest available apartment rental in Palmyra, IN is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Southern Indiana neighborhood priced from $200. Mason Manor Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here is today’s list of the most affordable Palmyra apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $200 |
| Mason Manor Apartments | 5 | 1BR,1BA | $695 |
| Brookview Glen | Studio | Studio,1BA | $719 |
| Willow Grove Apartments | 1 Bed, 1 Bath Flat | 1BR,1BA | $795 |
| Chapman Crossing | 2 Bedroom | 2BR,1BA | $839 |
| Courtyard Apartments | 2.1A | 2BR,1BA | $845 |
| Kingsfield Luxury Apartments | One Bedroom | 1BR,1BA | $850 |
| Willow Run | One Bed One Bath | 1BR,1BA | $879 |
| The Monroe | 1 Bedroom and 1 Bathroom | 1BR,1BA | $899 |
| 701-709 Etzler Dr | 2 Bedroom | 2BR,1BA | $900 |
Best Value Apartments for Rent in Palmyra, IN and Nearby
As of May 07, 2026 the best value apartment in the Palmyra area is the $1.10 price per square foot 3 Bedroom Model at Chapman Crossing in the starting from $1,360. The second greatest value Palmyra apartment is the Villas of Heritage Springs Townhomes Model at Heritage Springs Rentals starting at $1,150 with a $1.00 price per square foot . Here is today’s list of the best values for Palmyra apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Chapman Crossing | 3 Bedroom | 3BR,1.5BA | $1.10 |
| Heritage Springs Rentals | Villas of Heritage Springs Townhomes | 3BR,1.5BA | $1.00 |
| Adelyn Apartments | 7 | 2BR,2BA | $1.03 |
| Huntley Ridge New Albany | 2 Bedroom 1 Bathroom | 2BR,1BA | $0.94 |
| Plaza Square Apartments | 2x1 | 2BR,1BA | $1.00 |
| Valley Ridge | Two Bedroom Townhome | 2BR,1BA | $1.03 |
| 701-709 Etzler Dr | 2 Bedroom | 2BR,1BA | $1.00 |
| Kingsfield Luxury Apartments | One Bedroom | 1BR,1BA | $0.94 |
| Courtyard Apartments | 2.1B | 2BR,1BA | $1.09 |
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $0.34 |
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.
Read ArticleReal 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.
Read ArticleQuick 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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Palmyra, IN Rentals by Map
See the most popular apartments and homes in Palmyra, IN
Frequently Asked Questions about Cheap Palmyra Apartments
How much is rent for a Cheap One Bedroom Palmyra Apartment?
The lowest price for a Cheap One Bedroom Palmyra Apartment is $200 at Yellowwood Terrace Affordable Senior Housing.
What is the lowest price for a Cheap Two Bedroom Palmyra Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Palmyra is starting from $839 at Chapman Crossing.
What is the most affordable Palmyra Three Bedroom Apartment?
The best deal on a cheap Palmyra Three Bedroom Apartment rental is at Courtyard Apartments and starts from $1,116.
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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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.