Cheap Apartments for Rent in Pennville, IN from $300 (40 Rentals)

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

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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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.

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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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The Orchard
Studio to 3 Bedroom Apartments

The Orchard

720 W Centennial AveMuncie, IN 47303
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Labor Center Lofts
1 Bedroom Apartments

Labor Center Lofts

1125 S Walnut StMuncie, IN 47302
Corporate Housing
  • Utilities Included

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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Fox Brook Apartments
1 to 3 Bedroom Apartments

Fox Brook Apartments

4000 N Walnut StMuncie, IN 47303
  • Utilities Included

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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Showing Results 1-40, Page 1 of 1

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 University Village in the Westacres neighborhood priced from $514. Flats at West End in the School neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $550. Here is today’s list of the most affordable Pennville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
University Village4BD/2BA Furnished Premium4BR,2BA$514
Flats at West End0BR/1.0BAStudio,1BA$550
The Haven4x44BR,4BA$565
ApplegateStudio Open - 288 sqftStudio,1BA$590
Muncie Varsity House3 Bed, 3 Bath Classic Renovated3BR,3BA$599
The Alan1A 50%1BR,1BA$712
PINE GROVE APARTMENTS2 BED 1 BATH2BR,1BA$827
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$850
Eaton Residence*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$850
Forest Oaks Apartments1 Bed 1 Bath (Down)1BR,1BA$850

Best Value Apartments for Rent in Pennville, IN and Nearby

As of May 26, 2026 the best value apartment in the Pennville area is the $0.39 price per square foot 4BD/2BA Furnished Premium Model at University Village in the in the Westacres neighborhood starting from $514. The second greatest value Pennville apartment is the Pulse 7616 Model at Freedom Acres MHC starting at $1,139 with a $0.94 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.
University Village4BD/2BA Furnished Premium4BR,2BA$0.39
Freedom Acres MHCPulse 76163BR,2BA$0.94
Walnut Manor ApartmentsWM 3x2 R3BR,2BA$1.20
PINE GROVE APARTMENTS3 BED 2 BATH3BR,2BA$0.89
Silvertree CommunitiesSilvertree 3bd3BR,2BA$0.39
Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.90
Canterbury Townhomes2x1.5 R2BR,1.5BA$1.35
Eaton Residence*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$1.11
6301 W Kilgore Ave1 Bed, 1 Bath1BR,1BA$1.26
Forest Oaks Apartments1 Bed 1 Bath (Down)1BR,1BA$1.27

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 Pennville, IN Rentals by Map

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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 Flats at West End 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 $675 at Flats at West End.

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 $769 at Muncie Varsity House.

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 $575.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

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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.

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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.

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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.