Cheap Apartments for Rent near Petroleum, IN from $500 (39 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Beckford Place
Studio to 2 Bedroom Apartments

Beckford Place

1315 N Beckford PlMarion, IN 46952

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Woodhaven Oaks
1 to 3 Bedroom Apartments

Woodhaven Oaks

2008 Woodhaven DrFort Wayne, IN 46819
Corporate Housing

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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Showing Results 1-39, Page 1 of 1

Petroleum, IN Local Guide

Cheapest Available Petroleum Apartments for Rent and Nearby

 

The cheapest available apartment rental in Petroleum, IN is a 1 Bed unit found at Villa Capri Apartments in the Continential Park neighborhood priced from $620. The Meridian (Waterloo Gardens) in the Southeast Fort Wayne neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $650. Here is today’s list of the most affordable Petroleum apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Villa Capri ApartmentsPrato1BR,1BA$620
The Meridian (Waterloo Gardens)Standard 1 BED | 1 BATH - SM Flat2BR,1BA$650
PINE GROVE APARTMENTS1 BED 1 BATH1BR,1BA$691
Adam & Bruce Senior Housing ApartmentsEfficiencyStudio,1BA$742
Woodlynn ApartmentsWoodlynn Apartments2BR,1BA$750
Emerald Square Villas2x1 Classic PV2BR,1BA$759
Waynedale Village ApartmentsOne Bed1BR,1BA$789
Hickory Creek Apartments1 bd 1 ba Classic Flat1BR,1BA$799
Black Pine Flats1 bedroom classic 5041BR,1BA$799
Eaton Residence*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$850

Best Value Apartments for Rent in Petroleum, IN and Nearby

As of July 29, 2026 the best value apartment in the Petroleum area is the $0.84 price per square foot CLA 3BR/2.5BA Townhome Model at Coventry Court Townhomes in the in the Southwest Fort Wayne neighborhood starting from $1,379. The second greatest value Petroleum apartment is the Two Bedroom Model at Somerset Apartments starting at $913 with a $0.74 price per square foot . Here is today’s list of the best values for Petroleum apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Coventry Court TownhomesCLA 3BR/2.5BA Townhome3BR,2.5BA$0.84
Somerset ApartmentsTwo Bedroom2BR,1.5BA$0.74
Foster Park Apartments2 Bed Classic2BR,1.5BA$1.05
Cardinal Creek Crossing Apartments2BD/1BA2BR,1BA$0.99
Delaware AcresHarborview 663BR,2BA$0.99
Emerald Square Villas2x1 Reno2BR,1BA$0.92
Woodlynn ApartmentsWoodlynn Apartments2BR,1BA$0.92
Eaton Residence*Newly Renovated* Premium Style 2-Bedroom Apart...2BR,1BA$1.11
Villa Capri ApartmentsPrato1BR,1BA$0.86
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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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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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 Petroleum, IN Rentals by Map

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Frequently Asked Questions about Cheap Petroleum Apartments

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

The lowest price for a Cheap One Bedroom Petroleum Apartment is $620 at Villa Capri Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Petroleum is starting from $650 at The Meridian (Waterloo Gardens).

What is the most affordable Petroleum Three Bedroom Apartment?

The best deal on a cheap Petroleum Three Bedroom Apartment rental is at Villa Capri Apartments and starts from $946.

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 Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.