Cheap Apartments for Rent near Shelby, IN from $500 (42 Rentals)

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

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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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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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409 S Maple St
2 Bedroom Apartments

409 S Maple St

409 S Maple StKouts, IN 46347
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Meadow Lane Apartments
1 to 2 Bedroom Apartments

Meadow Lane Apartments

2029 Meadow LnSchererville, IN 46375
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10029 Kennedy Ave
1 to 2 Bedroom Apartments

10029 Kennedy Ave

10029 Kennedy AveHighland, IN 46322
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1905 Austin Ave
2 Bedroom Apartments

1905 Austin Ave

1905 Austin AveSchererville, IN 46375
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21746 Jeffrey
1 to 2 Bedroom Apartments

21746 Jeffrey

21746 S Jeffrey AveSauk Village, IL 60411

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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Showing Results 1-42, Page 1 of 1

Shelby, IN Local Guide

Cheapest Available Shelby Apartments for Rent and Nearby

 

The cheapest available apartment rental in Shelby, IN is a Studio unit found at Crest Apartments in the University Park neighborhood priced from $800. Madison Cottage of Rensselaer in the Jasper County neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $970. Here is today’s list of the most affordable Shelby apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Crest ApartmentsStudioStudio,1BA$800
Madison Cottage of Rensselaer1x11BR,1BA$970
Birchwood ApartmentsOne Bedroom1BR,1BA$990
The Ridge ApartmentsRedwood2BR,1BA$1,075
2045-2151 Meadow Ln1 Bed/1 Bath1BR,1BA$1,100
2100 N Main St1 Bed 1 Bath1BR,1BA$1,125
Crestview Apartments HomesD-1BR1BR,1BA$1,138
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1,159
Harvest Grove Apartment Homes1BD-Small1BR,1BA$1,161
1010 W Pine St1B 1B1BR,1BA$1,175

Best Value Apartments for Rent in Shelby, IN and Nearby

As of July 16, 2026 the best value apartment in the Shelby area is the $1.14 price per square foot 2BR Model at Meadow Lane Apartments in the in the Liverpool neighborhood starting from $1,180. The second greatest value Shelby apartment is the B Model at Vita on Grant starting at $1,450 with a $1.56 price per square foot in the Chapel Manor neighborhood. Here is today’s list of the best values for Shelby apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Meadow Lane Apartments2BR2BR,1BA$1.14
Vita on GrantB2BR,1BA$1.56
ST JAMES SENIOR APARTMENTS2 BED 1 BATH2BR,1BA$1.25
Tiberon Trails2x1F2BR,1BA$1.55
Harvest Ridge Apartment Homes2X12BR,1BA$1.50
The Ridge ApartmentsPoplar2BR,2BA$1.41
Madison Cottage of Rensselaer1x11BR,1BA$1.14
2100 N Main St1 Bed 1 Bath1BR,1BA$1.50
2045-2151 Meadow Ln1 Bed/1 Bath1BR,1BA$1.57
Birchwood ApartmentsOne Bedroom1BR,1BA$1.52

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 Shelby, IN Rentals by Map

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See the most popular apartments and homes in Shelby, IN

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Frequently Asked Questions about Cheap Shelby Apartments

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

The lowest price for a Cheap One Bedroom Shelby Apartment is $970 at Madison Cottage of Rensselaer.

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

Today's best deal for a Cheap Two Bedroom Apartment in Shelby is starting from $1,075 at The Ridge Apartments.

What is the most affordable Shelby Three Bedroom Apartment?

The best deal on a cheap Shelby Three Bedroom Apartment rental is at Madison Cottage of Rensselaer and starts from $1,367.

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 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.

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.