Cheap Apartments for Rent in Pennville, IN from $300 (19 Rentals)

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

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Pennville, IN Local Guide

Cheapest Available Pennville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Pennville, IN is a 4 Beds unit found at The Haven in the Westacres neighborhood priced from $530. Yugo 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 Pennville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Haven4x44BR,4BA$530
Yugo Muncie Varsity House3 Bed, 3 Bath Classic Renovated3BR,3BA$569
ApplegateStudioStudio,1BA$640
Arrasmith Apartments1BR/1.0BA1BR,1BA$750
Come home to Granton Place today!1 bedroom1BR,1BA$775

Best Value Apartments for Rent in Pennville, IN and Nearby

As of November 11, 2025 the best value apartment in the Pennville area is the $0.62 price per square foot 2BD/2BA Furnished Premium Model at University Village in the in the Westacres neighborhood starting from $809. The second greatest value Pennville apartment is the 2 Bedroom Model at Thomas Jefferson Park starting at $850 with a $0.77 price per square foot . Here is today’s list of the best values for Pennville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
University Village2BD/2BA Furnished Premium2BR,2BA$0.62
Thomas Jefferson Park2 Bedroom2BR,1.5BA$0.77
PINE GROVE APARTMENTS3 BED 2 BATH3BR,2BA$0.89
55+ Historic Gallatin Square SeniorTwo Bedroom2BR,1BA$1.06
Delaware AcresPulse 60162BR,2BA$1.04
The Latitude Apartments2 Bedroom PCR2BR,2BA$1.15
Yugo Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.90
Arrasmith Apartments1BR/1.0BA1BR,1BA$0.90
Silvertree CommunitiesSilvertree 2bd2BR,1BA$0.66
Come home to Granton Place today!1 bedroom1BR,1BA$0.98

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

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Getting Around Pennville, IN

Walk Score®

7 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

30 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Pennville Apartments

What is the Cheapest Studio apartment in Pennville?

Currently the most affordable Cheap Studio Apartment in Pennville is at Applegate listed at $640.

How much is rent for a Cheap One Bedroom Pennville Apartment?

The lowest price for a Cheap One Bedroom Pennville Apartment is $750 at Arrasmith Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Pennville is starting from $695 at The Haven.

What is the most affordable Pennville Three Bedroom Apartment?

The best deal on a cheap Pennville Three Bedroom Apartment rental is at The Haven and starts from $565.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.