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Cheap Apartments for Rent in Salem, IN from $400 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in Salem.
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Rent Specials
$200 - $1,0091 Bedroom Apartments Available Now
Yellowwood Terrace Affordable Senior Housing
2100 Greentree NClarksville, IN 47129
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$489 - $1,3502 to 3 Bedroom Apartments Contact Us For Availability
Foxtail Pointe
8614 Highway 60Sellersburg, IN 47172
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$699 - $899Studio to 2 Bedroom Apartments Available Now
Brookview Glen
1810 Graybrook LnNew Albany, IN 47150
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$719 - $1,4251 to 3 Bedroom Apartments Available Now
Knobs Pointe Apartments
2702 Paoli PikeNew Albany, IN 47150
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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$750 - $9751 to 2 Bedroom Apartments Available Now
Stonebrook of Scottsburg
33 N 5th StScottsburg, IN 47170
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$775 - $1,1501 to 2 Bedroom Apartments Available Now
Stone Creek Apartments I & II
2615-2715 Green Valley RdNew Albany, IN 47150
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2222 Mayflower Manor
New AlbanyIN47150
1107 Silverton Ct
ClarksvilleIN47129
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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Salem, IN Local Guide
Forest in Indiana by Kurt Beard is licensed under CC BY 2.0
How much does it cost to rent an apartment in Salem?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Salem Studio Apartments | $699 | $699 | $699 |
| Salem 1 Bedroom Apartments | $950 | $200 | $1,225 |
| Salem 2 Bedroom Apartments | $1,186 | $489 | $1,495 |
| Salem 3 Bedroom Apartments | $1,457 | $560 | $1,950 |
Browse Top Apartments in Salem
See all Apartments in SalemExplore Salem
Salem, IN Local Guide
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Cheapest Available Salem Apartments for Rent and Nearby
The cheapest available apartment rental in Salem, IN is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Southern Indiana neighborhood priced from $200. Knobs Pointe Apartments in the Southern Indiana neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $720. Here is today’s list of the most affordable Salem apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $200 |
| Knobs Pointe Apartments | 1 Bedroom 1 Bath B | 1BR,1BA | $720 |
| Stonebrook of Scottsburg | A1 | 1BR,1BA | $750 |
| Water's Edge | One Bedroom Reservation List | 1BR,1BA | $771 |
| Stone Creek Apartments I & II | 1 Bed 1 Bath | 1BR,1BA | $775 |
Best Value Apartments for Rent in Salem, IN and Nearby
As of October 23, 2025 the best value apartment in the Salem area is the $0.91 price per square foot 2BR/2.0BA Model at Lochwood Apartments in the in the Southern Indiana neighborhood starting from $1,365. The second greatest value Salem apartment is the Two Bed Model at Plum Ridge Apartments starting at $1,150 with a $1.01 price per square foot in the Southern Indiana neighborhood. Here is today’s list of the best values for Salem apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Lochwood Apartments | 2BR/2.0BA | 2BR,2BA | $0.91 |
| Plum Ridge Apartments | Two Bed | 2BR,2BA | $1.01 |
| Sheffield Square | Two Bedroom 1.5 Bath Townhouse | 2BR,1.5BA | $1.08 |
| Huntley Ridge New Albany | 2 Bedroom 1 Bathroom | 2BR,1BA | $0.94 |
| Plaza Square Apartments | 2x1 | 2BR,1BA | $1.00 |
| High Peaks | 2 bedroom | 2BR,1BA | $0.98 |
| Kingsfield Luxury Apartments | One Bedroom | 1BR,1BA | $0.94 |
| Courtyard Apartments | 2.1B | 2BR,1BA | $1.09 |
| Knobs Pointe Apartments | 1 Bedroom 1 Bath B | 1BR,1BA | $0.85 |
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $0.34 |
Apartment Common Area Rules: What Renters Need to Know
From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.
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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.
Read ArticleThe 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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Best Local Schools in Salem, IN
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Salem, IN Rentals by Map
See the most popular apartments and homes in Salem, IN
Getting Around Salem, IN
Walk Score®
22 / 100
Car-Dependent
Almost all errands require a car
Bike Score®
24 / 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 Salem Apartments
How much is rent for a Cheap One Bedroom Salem Apartment?
The lowest price for a Cheap One Bedroom Salem Apartment is $200 at Yellowwood Terrace Affordable Senior Housing.
What is the lowest price for a Cheap Two Bedroom Salem Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Salem is starting from $845 at Courtyard Apartments.
What is the most affordable Salem Three Bedroom Apartment?
The best deal on a cheap Salem Three Bedroom Apartment rental is at Water's Edge and starts from $1,006.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
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.
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.