Cheap Apartments for Rent near Urbana, IN from $400 (26 Rentals)

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

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.

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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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Beckford Place
Studio to 2 Bedroom Apartments

Beckford Place

1315 N Beckford PlMarion, IN 46952

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.

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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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Urbana, IN Local Guide

Cheapest Available Urbana Apartments for Rent and Nearby

 

The cheapest available apartment rental in Urbana, IN is a 2 Beds unit found at Historic Blue Bell Lofts in the Whitley County neighborhood priced from $498. Pechewa Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $729. Here is today’s list of the most affordable Urbana apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Historic Blue Bell Lofts2 Beds, 1 bath2BR,1BA$498
Pechewa PlaceUpstairs 1 Bedroom1BR,1BA$729
Millstone Apartments1 bedroom1BR,1BA$750
Courts of Colfax ApartmentsWinonaStudio,1BA$750
Hilltop Ridge2 bed 1 bath2BR,1BA$863
UB LoftsOne Bedroom1BR,1BA$870
Wabash River Commons1B1B SENIOR1BR,1BA$895
The Cottages at Bridgewater (Senior 55+)1 Bedroom1BR,1BA$895
North Ridge Apartments1 Bedroom1BR,1BA$911
Somerset ApartmentsTwo Bedroom2BR,1BA$913

Best Value Apartments for Rent in Urbana, IN and Nearby

As of July 28, 2026 the best value apartment in the Urbana area is the $0.36 price per square foot 2 Beds, 1 bath Model at Historic Blue Bell Lofts in the in the Whitley County neighborhood starting from $498. The second greatest value Urbana apartment is the Two Bedroom Model at Somerset Apartments starting at $913 with a $0.74 price per square foot . Here is today’s list of the best values for Urbana apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Historic Blue Bell Lofts2 Beds, 1 bath2BR,1BA$0.36
Somerset ApartmentsTwo Bedroom2BR,1.5BA$0.74
Hilltop Ridge3 Bed 1 bath3BR,1BA$1.01
Simonson Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
Kuder EstatesTwo Bedroom One Bathroom2BR,1BA$1.09
Lakeland Villa Apartments2x12BR,1BA$1.24
UB LoftsOne Bedroom1BR,1BA$1.21
Millstone Apartments1 bedroom1BR,1BA$1.12
Courts of Colfax ApartmentsWinonaStudio ,1BA$1.24
Pechewa PlaceDownstairs Single Story Building 1 Bedroom1BR,1BA$1.30

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

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Frequently Asked Questions about Cheap Urbana Apartments

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

The lowest price for a Cheap One Bedroom Urbana Apartment is $729 at Pechewa Place.

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

Today's best deal for a Cheap Two Bedroom Apartment in Urbana is starting from $498 at Historic Blue Bell Lofts.

What is the most affordable Urbana Three Bedroom Apartment?

The best deal on a cheap Urbana Three Bedroom Apartment rental is at Hilltop Ridge and starts from $948.

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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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.

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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.