Cheap Apartments for Rent near Underwood, IN from $497 (58 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
The Laurel
Rent Specials
$1,234 - $1,889

Total Monthly Price

Base Rent$1,234 - $1,889
Total Monthly Price$1,234 - $1,889
1 to 3 Bedroom Apartments Available Now

The Laurel

3498 Jefferson Ridge DrJeffersonville, IN 47130
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
Water's Edge
1 to 3 Bedroom Apartments

Water's Edge

20 Red Oak WayAustin, IN 47102
  • Utilities Included
close
View Me
281 E Main St
1 Bedroom Apartments

281 E Main St

281 E Main StHanover, IN 47243
  • Utilities Included

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.

Read Article
close
View Me
The Jeff On 10th
Studio to 2 Bedroom Apartments

The Jeff On 10th

3500 Ellingsworth Dairy DrJeffersonville, IN 47130
Corporate Housing
close
View Me
Highland Glen
1 to 3 Bedroom Apartments

Highland Glen

725 S Mansfield DrScottsburg, IN 47170

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.

Read Article
Showing Results 1-50, Page 1 of 2

Underwood, IN Local Guide

Cheapest Available Underwood Apartments for Rent and Nearby

 

The cheapest available apartment rental in Underwood, IN is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Clarksville neighborhood priced from $200. The Monroe in the New Albany neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $849. Here is today’s list of the most affordable Underwood apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
The Monroe1 Bedroom and 1 Bathroom1BR,1BA$849
Willow RunOne Bed One Bath1BR,1BA$889
701-709 Etzler Dr2 Bedroom2BR,1BA$900
Foxtail Pointe2 Bdrm B2BR,1BA$942
Arbor Place ApartmentsThe Windsor1BR,1BA$975
Charlestown FlatsOne Bedroom Flat1BR,1BA$995
Stonebridge ApartmentsFirst Floor 1Bed/1Bath1BR,1BA$995
Plaza Square Apartments2x12BR,1BA$1,000
Lakeview Apartments1 Bedroom 1 Bath1BR,1BA$1,009

Best Value Apartments for Rent in Underwood, IN and Nearby

As of September 12, 2026 the best value apartment in the Underwood area is the $0.97 price per square foot E Model at Water's Edge in the starting from $1,150. The second greatest value Underwood apartment is the Two Bed Model at Plum Ridge Apartments starting at $1,150 with a $1.01 price per square foot in the Southern Indiana neighborhood. Here is today’s list of the best values for Underwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Water's EdgeE3BR,2BA$0.97
Plum Ridge ApartmentsTwo Bed2BR,2BA$1.01
Carrington Place2 Bedroom 1 Bath2BR,1BA$1.10
Plaza Square Apartments2x12BR,1BA$1.00
Foxtail Pointe2 Bdrm B2BR,1BA$0.99
701-709 Etzler Dr2 Bedroom2BR,1BA$1.00
Arbor Place ApartmentsThe Windsor1BR,1BA$1.08
The Monroe1 Bedroom and 1 Bathroom1BR,1BA$1.06
Stonebrook of Scottsburg1 Bedroom1BR,1BA$1.08
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.

Read Article
Decorative image

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.

Read Article

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Explore Underwood, IN Rentals by Map

Decorative image of map

See the most popular apartments and homes in Underwood, IN

View Map
Underwood, IN Apartments Map
View Map
Underwood, IN Rental Homes Map

Frequently Asked Questions about Cheap Underwood Apartments

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

The lowest price for a Cheap One Bedroom Underwood Apartment is $200 at Yellowwood Terrace Affordable Senior Housing.

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

Today's best deal for a Cheap Two Bedroom Apartment in Underwood is starting from $900 at 701-709 Etzler Dr.

What is the most affordable Underwood Three Bedroom Apartment?

The best deal on a cheap Underwood Three Bedroom Apartment rental is at Foxtail Pointe and starts from $1,088.

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 Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

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.

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

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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.