
Cheap Apartments for Rent in the Downtown Shelbyville Neighborhood of Shelbyville, IN from $500 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Shelbyville area of Shelbyville.


Charles Major Manor Affordable Senior Housing

Water Dance Apartments

641 Main St

157 W Hendricks St

North Harrison Senior
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.

Martin Estates Apartments

Hendricks Pointe

Old Shelby High Apartments

Shelby's Crest & Landing

Twin Lakes Apartments

Suburban Court Apartments
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.
Downtown Shelbyville, Shelbyville, IN Local Guide

How much does it cost to rent an apartment in Downtown Shelbyville?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Shelbyville Studio Apartments | $999 | $999 | $999 |
| Downtown Shelbyville 1 Bedroom Apartments | $991 | $750 | $1,700 |
| Downtown Shelbyville 2 Bedroom Apartments | $1,183 | $1,090 | $1,340 |
| Downtown Shelbyville 3 Bedroom Apartments | $1,424 | $1,379 | $1,515 |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Downtown Shelbyville Neighborhood of Shelbyville, IN.
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Downtown Shelbyville, Shelbyville, IN Local Guide
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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. Loper Commons has the second lowest priced unit, which is a 1 Bed apartment currently listed from $994. Here are the most affordable Downtown Shelbyville apartments for rent in Shelbyville, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Hendricks Pointe | One Bedroom | 1BR,1BA | $538 |
| Loper Commons | One Bedroom Apartment I | 1BR,1BA | $994 |
| North Harrison Senior | Two Bedroom | 2BR,1BA | $997 |
| Martin Estates Apartments | Two Bedroom One Bath | 2BR,1BA | $999 |
| Water Dance Apartments | 2BR/1BA | 2BR,1BA | $1,095 |
Best Value Apartments for Rent in Downtown Shelbyville, IN
As of February 19, 2026 the best value apartment in the Downtown Shelbyville area is the $0.62 price per square foot One Bedroom Model at Hendricks Pointe in the in the Downtown Shelbyville neighborhood starting from $538. The second greatest value Downtown Shelbyville apartment is the 2BR/1BA Model at Water Dance Apartments starting at $1,095 with a $1.27 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Hendricks Pointe | One Bedroom | 1BR,1BA | $0.62 |
| Water Dance Apartments | 2BR/1BA | 2BR,1BA | $1.27 |
| North Harrison Senior | One Bedroom | 1BR,1BA | $1.33 |
| Martin Estates Apartments | One Bedroom One Bath | 1BR,1BA | $1.46 |
| Loper Commons | One Bedroom Apartment I | 1BR,1BA | $1.74 |
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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash 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.
Read ArticleQuick 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.
Pet Friendly LifestyleDowntown Shelbyville, Shelbyville, IN
Ranked #1
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Shelbyville Apartments
What is the price of a cheap apartment in Downtown Shelbyville?
The cheapest apartment in Downtown Shelbyville is Hendricks Pointe which is listed at $538, while the average apartment in Downtown Shelbyville costs $1,390.
What types of apartments are the cheapest in Downtown Shelbyville?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 8 regular apartments in Downtown Shelbyville that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.