Cheap Apartments for Rent in Salem, IN from $300 (43 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
Aspen Meadows
1 to 4 Bedroom Apartments

Aspen Meadows

1105 Aspen DrSalem, IN 47167
  • Utilities Included
close
View Me
Parkview Apartments
1 Bedroom Apartments

Parkview Apartments

817 Parkview DrSalem, IN 47167
  • Utilities Included

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
Chapman Crossing
2 to 3 Bedroom Apartments

Chapman Crossing

625 Chapman Dr NWCorydon, IN 47112
close
View Me
Foxtail Pointe
2 to 3 Bedroom Apartments

Foxtail Pointe

8810 Old Highway 60Sellersburg, IN 47172

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.

Read Article
close
View Me
Water's Edge
1 to 3 Bedroom Apartments

Water's Edge

20 Red Oak WayAustin, IN 47102
  • Utilities Included
close
View Me
High Peaks
2 Bedroom Apartments

High Peaks

9815 US-150Greenville, IN 47124

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.

Read Article
Showing Results 1-43, Page 1 of 1

Salem, IN Local Guide

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 Clarksville neighborhood priced from $200. Stonebrook of Scottsburg has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
Stonebrook of Scottsburg1 Bedroom1BR,1BA$699
Brookview GlenStudioStudio,1BA$719
Courtyard Apartments1.1B1BR,1BA$739
Huntley Ridge New AlbanyAspen1BR,1BA$830
The Monroe1 Bedroom and 1 Bathroom1BR,1BA$849
Glenview Apartments1 Bedroom1BR,1BA$869
701-709 Etzler Dr2 Bedroom2BR,1BA$900
Knobs Pointe Apartments2 Bedroom 2 Bath B2BR,2BA$924
Meadows at Green TreeThe Elm1BR,1BA$925

Best Value Apartments for Rent in Salem, IN and Nearby

As of July 23, 2026 the best value apartment in the Salem area is the $0.96 price per square foot The Arbor Model at Arbor Place Apartments in the in the New Albany neighborhood starting from $1,150. The second greatest value Salem apartment is the Villas of Heritage Springs Townhomes Model at Heritage Springs Rentals starting at $1,150 with a $1.00 price per square foot . Here is today’s list of the best values for Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Arbor Place ApartmentsThe Arbor2BR,1.5BA$0.96
Heritage Springs RentalsVillas of Heritage Springs Townhomes3BR,1.5BA$1.00
Plum Ridge ApartmentsTwo Bed2BR,2BA$1.05
Valley RidgeThree Bedroom Townhome3BR,1BA$1.02
Adelyn Apartments4229-72BR,2BA$1.03
Plaza Square Apartments2x12BR,1BA$1.00
Sheffield SquareOne Bedroom One Bath1BR,1BA$1.07
701-709 Etzler Dr2 Bedroom2BR,1BA$1.00
The Monroe1 Bedroom and 1 Bathroom1BR,1BA$1.06
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

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 Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Decorative image of map

See the most popular apartments and homes in Salem, IN

View Map
Salem, IN Apartments Map
View Map
Salem, IN Rental Homes Map

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 $813 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 Heritage Springs Rentals and starts from $1,150.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

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

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.