Cheap Apartments for Rent in the Downtown Valparaiso Neighborhood of Valparaiso, IN from $500 (33 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Valparaiso area of Valparaiso.

property at 54 College Ave

$890 - $995

Studio To 1 Bedroom Rentals

Available Now

54 College Ave

ValparaisoIN46383

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Pioneer Apartments
Studio to 3 Bedroom Apartments

Pioneer Apartments

101 Chicago StValparaiso, IN 46383
  • Utilities Included
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Colombia Apartments
1 to 2 Bedroom Apartments

Colombia Apartments

500 Indiana AveValparaiso, IN 46383
  • Utilities Included
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Jefferson Apartments
1 Bedroom Apartments

Jefferson Apartments

52-54 College AveValparaiso, IN 46383
  • Utilities Included
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555 Locust St
1 Bedroom Apartments

555 Locust St

555 S Locust StValparaiso, IN 46383
  • Smoke Free

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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353 Morgan Blvd
Studio Apartments

353 Morgan Blvd

353 Morgan BlvdValparaiso, IN 46383
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357 Greenwich St
1 Bedroom Apartments

357 Greenwich St

357 Greenwich StValparaiso, IN 46383
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501 Union St
2 Bedroom Apartments

501 Union St

501 Union StValparaiso, IN 46383
  • Smoke Free
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204 Brown St
Studio to 2 Bedroom Apartments

204 Brown St

204 Brown StValparaiso, IN 46383
  • Smoke Free
property at 353 Morgan Blvd

$1,500

Total Monthly Price

Total Monthly Price

Base Rent
$1,500

Total Monthly Price
$1,500

1 Bedroom, 1 Bath Condo for Rent

Available Now

353 Morgan Blvd, Unit 3

353 Morgan Blvd
ValparaisoIN46383
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The VIC
Studio to 2 Bedroom Apartments

The VIC

204 N Michigan AveValparaiso, IN 46383
  • Utilities Included

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The Lincoln
2 Bedroom Apartments

The Lincoln

53 Michigan AveValparaiso, IN 46383
  • Utilities Included

Cheapest Available Downtown Valparaiso Apartments for Rent

 

The cheapest available apartment rental in the Downtown Valparaiso area of Valparaiso, IN is a Studio unit found at Viewpointe Apartment Homes priced from $938. 205 Michigan has the second lowest priced unit, which is a 1 Bed apartment currently listed from $940. Here are the most affordable Downtown Valparaiso apartments for rent in Valparaiso, IN:

Apartment ListingModel NameBed/BathPriced From
Viewpointe Apartment HomesA-StudioStudio,1BA$938
205 Michigan1 Bed, 1 bath1BR,1BA$940
The Linc ValpoThe Jefferson1BR,1BA$1,270
Golfview ApartmentsG1B1B1BR,1BA$1,313
Chandana Pointe ApartmentsThe Tuscany2BR,2BA$1,355
Woodside Village Apartments2 Bedroom, 1 Bath2BR,1BA$1,459
The Lakes of ValparaisoD21BR,1BA$1,696
Covington Square3bedth3BR,1BA$1,725

Best Value Apartments for Rent in Downtown Valparaiso, IN

As of July 12, 2026 the best value apartment in the Downtown Valparaiso area is the $2.56 price per square foot St. Lucia - Furnished Model at Compass Pointe Apartments in the in the Porter County neighborhood starting from $3,353. The second greatest value Downtown Valparaiso apartment is the 3 Beds, 2 baths Model at 205 Michigan starting at $1,775 with a $1.48 price per square foot in the Banta neighborhood. Here is today’s list of the best values for Downtown Valparaiso apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Compass Pointe ApartmentsSt. Lucia - Furnished3BR,2BA$2.56
205 Michigan3 Beds, 2 baths3BR,2BA$1.48
Covington Square3bedth3BR,1.5BA$1.44
The Lakes of ValparaisoE12BR,2BA$2.02
Chandana Pointe ApartmentsThe Tuscany2BR,2BA$1.36
212 Logan St212 Logan St2BR,1BA$1.30
Woodside Village Apartments2 Bedroom, 1 Bath2BR,1BA$1.89
Golfview ApartmentsG1B1B1BR,1BA$2.15
The Linc ValpoThe Jefferson1BR,1BA$3.05
Viewpointe Apartment HomesA-StudioStudio ,1BA$2.35

Frequently Asked Questions about Cheap Downtown Valparaiso Apartments

What is the price of a cheap apartment in Downtown Valparaiso?

The cheapest apartment in Downtown Valparaiso is 205 Michigan which is listed at $940, while the average apartment in Downtown Valparaiso costs $2,069.

What types of apartments are the cheapest in Downtown Valparaiso?

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 12 regular apartments in Downtown Valparaiso that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Valparaiso?

Cheap apartments in Downtown Valparaiso have an average cost of $248 which is $1,821 cheaper than the average rent for all rentals in Downtown Valparaiso.

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.

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

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