Cheap Apartments for Rent in Salem, IN from $420 (61 Rentals)

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

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Aspen Meadows
1 to 4 Bedroom Apartments

Aspen Meadows

1105 Aspen DrSalem, IN 47167
  • Utilities Included
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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.

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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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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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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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Water's Edge
1 to 3 Bedroom Apartments

Water's Edge

20 Red Oak WayAustin, IN 47102
  • Utilities Included
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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.

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Showing Results 1-50, Page 1 of 2

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
Knobs Pointe Apartments2 Bedroom 2 Bath A2BR,2BA$859
701-709 Etzler Dr2 Bedroom2BR,1BA$900
Glenview Apartments1 Bedroom1BR,1BA$909
Foxtail Pointe2 Bdrm B2BR,1BA$942

Best Value Apartments for Rent in Salem, IN and Nearby

As of September 07, 2026 the best value apartment in the Salem area is the $0.89 price per square foot 3 Bedroom 2 Bath Model at Knobs Pointe Apartments in the in the New Albany neighborhood starting from $1,425. The second greatest value Salem apartment is the E Model at Water's Edge starting at $1,150 with a $0.97 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.
Knobs Pointe Apartments3 Bedroom 2 Bath3BR,2BA$0.89
Water's EdgeE3BR,2BA$0.97
Heritage Springs RentalsVillas of Heritage Springs Townhomes3BR,1.5BA$1.00
Plum Ridge ApartmentsTwo Bed2BR,2BA$1.01
Plaza Square Apartments2x12BR,1BA$1.00
Valley RidgeTwo Bedroom Townhome2BR,1BA$1.05
Foxtail Pointe2 Bdrm B2BR,1BA$0.99
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.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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Salem, IN

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Remember the 3 Rules of Real Estate:
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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 $828 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

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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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.