Cheap Apartments for Rent in Shelbyville, IN from $400 (34 Rentals)

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

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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property at 202 E Taylor St

$525 - $645

1 Bedroom Rentals

Available Now

202 E Taylor St

ShelbyvilleIN46176
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Hendricks Pointe
1 to 3 Bedroom Apartments

Hendricks Pointe

415 W Taylor StShelbyville, IN 46176
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Shelby's Crest & Landing
Studio to 4 Bedroom Apartments

Shelby's Crest & Landing

753 Shelbys CrestShelbyville, IN 46176
  • Utilities Included

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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North Harrison Senior
1 to 2 Bedroom Apartments

North Harrison Senior

111 N Harrison StShelbyville, IN 46176
Senior Living

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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Twin Lakes Apartments
1 to 2 Bedroom Apartments

Twin Lakes Apartments

1825 Wichman LnShelbyville, IN 46176
  • Utilities Included

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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Shelbyville, IN Local Guide

Cheapest Neighborhoods for Apartments in Shelbyville, IN

Pricing Updated: 06/10/2026

Current apartment rentals in the Shelbyville, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Shelbyville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Shelbyville$1,465$69011

Cheapest Available Shelbyville Apartments for Rent

 

The cheapest available apartment rental in Shelbyville, IN is a 1 Bed unit found at Hendricks Pointe in the Downtown Shelbyville neighborhood priced from $538. LINCOLN PARK APARTMENTS has the second lowest priced unit, which is a Studio apartment currently listed from $645. Here is today’s list of the most affordable Shelbyville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hendricks PointeOne Bedroom1BR,1BA$538
LINCOLN PARK APARTMENTSStudioStudio,1BA$645
North Harrison SeniorTwo Bedroom2BR,1BA$747
Waterbury ApartmentsStudioStudio,1BA$775
The Fairways at Valle VistaBirdie1BR,1BA$899
Eight37 Lofts1D 50%1BR,1BA$932
Keeneland Crest ApartmentsBristol1BR,1BA$949

Best Value Apartments for Rent in Shelbyville, IN

As of June 10, 2026 the best value apartment in the Shelbyville area is the $1.20 price per square foot L3 Model at The Links at Franklin in the in the Cityview Farm neighborhood starting from $1,937. The second greatest value Shelbyville apartment is the 2 Bed/2.5 Bath Town Home Model at Greenwood Oaks starting at $1,424 with a $1.11 price per square foot in the Tracy Commons neighborhood. Here is today’s list of the best values for Shelbyville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Links at FranklinL33BR,2BA$1.20
Greenwood Oaks2 Bed/2.5 Bath Town Home2BR,2.5BA$1.11
Greenfield Knoll Apartments2 Bed/ 1.5 Bath TH2BR,1.5BA$1.11
Lakes of WindsorChurchill2BR,2BA$1.39
Keeneland Crest ApartmentsCamden2BR,1BA$1.34
Martin Estates ApartmentsTwo Bedroom One Bath2BR,1BA$1.04
Hendricks PointeOne Bedroom1BR,1BA$0.62
Water Dance Apartments2BR/1BA2BR,1BA$1.27
LINCOLN PARK APARTMENTSStudioStudio ,1BA$0.81
North Harrison SeniorOne Bedroom1BR,1BA$1.33

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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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.

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Best Local Schools in
Shelbyville, IN

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Shelbyville, IN Rentals by Map

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See the most popular apartments and homes in Shelbyville, IN

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Frequently Asked Questions about Cheap Shelbyville Apartments

What is the Cheapest Studio apartment in Shelbyville?

Currently the most affordable Cheap Studio Apartment in Shelbyville is at LINCOLN PARK APARTMENTS listed at $645.

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

The lowest price for a Cheap One Bedroom Shelbyville Apartment is $538 at Hendricks Pointe.

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

Today's best deal for a Cheap Two Bedroom Apartment in Shelbyville is starting from $747 at North Harrison Senior.

What is the most affordable Shelbyville Three Bedroom Apartment?

The best deal on a cheap Shelbyville Three Bedroom Apartment rental is at Yorktowne Farms Community and starts from $1,375.

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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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.