Cheap Apartments for Rent in Urbana, IN from $400 (37 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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Beckford Place
Studio to 2 Bedroom Apartments

Beckford Place

1315 N Beckford PlMarion, IN 46952

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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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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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
Beckford Place2 Bedroom2BR,1BA$850
UB LoftsOne Bedroom1BR,1BA$870
Park Forest2 Bedroom2BR,1BA$875
Hilltop Ridge3 bed Mid Income Qualifying 3 bed3BR,1BA$891
Wabash River Commons1B1B SENIOR1BR,1BA$895
The Cottages at Bridgewater (Senior 55+)1 Bedroom1BR,1BA$895
North Ridge Apartments1 Bedroom1BR,1BA$911

Best Value Apartments for Rent in Urbana, IN and Nearby

As of June 12, 2026 the best value apartment in the Urbana area is the $1.31 price per square foot Breezewood Sunroom Model at Redwood Fort Wayne Noyer Road in the in the Southwest Fort Wayne neighborhood starting from $2,232. 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.
Redwood Fort Wayne Noyer RoadBreezewood Sunroom2BR,2BA$1.31
Historic Blue Bell Lofts2 Beds, 1 bath2BR,1BA$0.36
Somerset ApartmentsTwo Bedroom2BR,1.5BA$0.74
Hilltop Ridge3 bed Mid Income Qualifying 3 bed3BR,1BA$0.88
Beckford Place2 Bedroom2BR,1BA$0.87
Simonson Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
Park Forest2 Bedroom2BR,1BA$1.06
UB LoftsOne Bedroom1BR,1BA$1.21
Courts of Colfax ApartmentsWinonaStudio ,1BA$1.24
Pechewa PlaceDownstairs 1 Bedroom1BR,1BA$1.22

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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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!

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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 $891.

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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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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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.