Cheap Homes for Rent in Pennville, IN from $500 (10 Rentals)

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property at 1224 E Main St

1224 E Main St

MuncieIN47305

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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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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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
Yugo Muncie Varsity House3 Bed, 3 Bath Classic Renovated3BR,3BA$569

Best Value Apartments for Rent in Pennville, IN and Nearby

As of December 05, 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
Senior Living 55+ - Historic Gallatin SquareTwo Bedroom2BR,1BA$1.06
Delaware AcresRHP FK3BR,2BA$1.10
Silvertree CommunitiesEverbrook Townhomes2BR,1.5BA$0.70
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
Come home to Granton Place today!1 bedroom1BR,1BA$0.98

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 Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Quick Rent Budget Calculator

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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 Pennville

What type of rentals are currently available in Pennville?

There are currently 49 Apartments for Rent in Pennville, IN with pricing that ranges from $350 to $1,846. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Pennville ranging from $500 to $17,900.

What is the current price range for Rental Homes in Pennville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Pennville ranges from $500 to $17,900 with an average monthly rent of $1,095.

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.

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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.

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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.