Cheap Apartments for Rent in the Downtown Shelbyville Neighborhood of Shelbyville, IN from $500 (18 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Shelbyville area of 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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Showing Results 1-18, Page 1 of 1

Downtown Shelbyville, Shelbyville, IN Local Guide

Cheapest Available Downtown Shelbyville Apartments for Rent

 

The cheapest available apartment rental in the Downtown Shelbyville area of Shelbyville, IN is a 1 Bed unit found at Hendricks Pointe priced from $538. Eight37 Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $935. Here are the most affordable Downtown Shelbyville apartments for rent in Shelbyville, IN:

Apartment ListingModel NameBed/BathPriced From
Hendricks PointeOne Bedroom1BR,1BA$538
Eight37 LoftsThe Crossroads1BR,1BA$935
Martin Estates ApartmentsOne Bedroom One Bath1BR,1BA$950
North Harrison SeniorOne Bedroom1BR,1BA$1,038
Water Dance Apartments2BR/1BA2BR,1BA$1,095

Best Value Apartments for Rent in Downtown Shelbyville, IN

As of May 31, 2026 the best value apartment in the Downtown Shelbyville area is the $1.48 price per square foot Marietta Model at The Mill in the in the Downtown Shelbyville neighborhood starting from $1,381. The second greatest value Downtown Shelbyville apartment is the The Shaw Model at Eight37 Lofts starting at $1,370 with a $1.53 price per square foot in the Downtown Shelbyville neighborhood. Here is today’s list of the best values for Downtown Shelbyville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The MillMarietta2BR,2BA$1.48
Eight37 LoftsThe Shaw2BR,1BA$1.53
Hendricks PointeOne Bedroom1BR,1BA$0.62
Water Dance Apartments2BR/1BA2BR,1BA$1.27
North Harrison SeniorOne Bedroom1BR,1BA$1.33
Martin Estates ApartmentsOne Bedroom One Bath1BR,1BA$1.36
1451 W McKay Rd, Unit 1451 W. McKay Rd. Apt1451 W McKay Rd2BR,1BA$1.43
246 E Washington St, Unit 5246 E Washington St1BR,1BA$1.50
119 E Polk St, Unit 10119 E Polk St1BR,1BA$1.50
137 E Washington St, Unit 205137 E Washington StStudio ,1BA$3.20

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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Pet Friendly Lifestyle
Downtown Shelbyville, Shelbyville, IN

Ranked #1

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Downtown Shelbyville Apartments

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

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

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Shelbyville is starting from $999 at Martin Estates Apartments.

What is the most affordable Downtown Shelbyville Three Bedroom Apartment?

The best deal on a cheap Downtown Shelbyville Three Bedroom Apartment rental is at Eight37 Lofts and starts from $1,291.

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

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.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.