Cheap Apartments for Rent in Pennville, IN from $300 (13 Rentals)

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

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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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The Cedars
1 Bedroom Apartments

The Cedars

1010 W Bethel RdMuncie, IN 47303
Student Housing

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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 1 Bed unit found at Senior Living 55+ - Historic Gallatin Square priced from $379. The Haven in the Westacres neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $540. Here is today’s list of the most affordable Pennville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Senior Living 55+ - Historic Gallatin SquareOne Bedroom1BR,1BA$379
The Haven4x44BR,4BA$540
Beckford PlaceStudioStudio,1BA$550
Yugo Muncie Varsity House3 Bed, 3 Bath Classic Renovated3BR,3BA$569
ApplegateStudio - 288 sqftStudio,1BA$669

Best Value Apartments for Rent in Pennville, IN and Nearby

As of February 21, 2026 the best value apartment in the Pennville area is the $0.59 price per square foot Townhouse Model at Highland North Townhomes in the starting from $1,150. The second greatest value Pennville apartment is the 2BD/2BA Furnished Premium Model at University Village starting at $809 with a $0.62 price per square foot in the Westacres neighborhood. 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.
Highland North TownhomesTownhouse2BR,1.5BA$0.59
University Village2BD/2BA Furnished Premium2BR,2BA$0.62
Thomas Jefferson Park2 Bedroom2BR,1.5BA$0.77
Senior Living 55+ - Historic Gallatin SquareTwo Bedroom2BR,1BA$0.77
Silvertree CommunitiesEverbrook Townhomes2BR,1.5BA$0.70
Delaware AcresPulse 60162BR,2BA$1.07
OAK TERRACE APARTMENTS2 bedroom townhome2BR,1BA$0.96
Yugo Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.90
Arrasmith Apartments1BR/1.0BA1BR,1BA$0.90
PINE GROVE APARTMENTS1 BED 1 BATH1BR,1BA$1.03

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 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!

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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 Beckford Place listed at $550.

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

The lowest price for a Cheap One Bedroom Pennville Apartment is $379 at Senior Living 55+ - Historic Gallatin Square.

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 $720 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 Yugo 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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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.