Cheap Apartments for Rent in Urbana, IN from $300 (22 Rentals)

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

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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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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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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Showing Results 1-22, Page 1 of 1

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 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
Courts of Colfax ApartmentsWinonaStudio,1BA$750
Hilltop RidgeMid Income Qualify2BR,1BA$776
Somerset ApartmentsTwo Bedroom2BR,1BA$812

Best Value Apartments for Rent in Urbana, IN and Nearby

As of April 28, 2026 the best value apartment in the Urbana area is the $1.12 price per square foot 3 Bed Basic Model at 402 S Washington St in the starting from $1,750. The second greatest value Urbana apartment is the 2 Beds, 1 bath Model at Historic Blue Bell Lofts starting at $498 with a $0.36 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.
402 S Washington St3 Bed Basic3BR,2BA$1.12
Historic Blue Bell Lofts2 Beds, 1 bath2BR,1BA$0.36
Come home to Granton Place today!2 Bedroom2BR,1BA$0.93
Millstone Apartments2 bedroom 1 bath2BR,1BA$0.87
Simonson Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.09
CLEAR CREEK APARTMENTS2 bedroom 2 bath2BR,2BA$1.06
Somerset ApartmentsTwo Bedroom2BR,1BA$0.98
Hilltop Ridge1 bed 1 bath1BR,1BA$1.21
Courts of Colfax ApartmentsWinonaStudio ,1BA$1.24
Pechewa PlaceDownstairs 1 Bedroom1BR,1BA$1.22

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The 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.

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

Explore Urbana, IN Rentals by Map

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Frequently Asked Questions about Cheap Urbana Apartments

What is the Cheapest Studio apartment in Urbana?

Currently the most affordable Cheap Studio Apartment in Urbana is at Courts of Colfax Apartments listed at $750.

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 Briar Ridge Apartments and starts from $1,425.

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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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.

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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.

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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.