Apartments for Rent in Indiana under $500
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1 bd $323+2 bd $383+Base rent Income restricted2600 Elm Street, Terre Haute, IN 47803Apply online • Pet friendly • Fitness center
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1 bd $489Base rent4700 East Riverside Drive, Evansville, IN 47714Pet friendly • Fitness center • Pool
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Only 2 units left2 bd $495Base rent117 8Th Street, Logansport, IN 46947Apply online • Pet friendly -
Only 1 unit left2 bd $500Base rent3002 Reed Street, Fort Wayne, IN 46806Apply online -
1 bd $419Base rent Income restricted713 N Purdum Street, Kokomo, IN 46902Apply online • In unit laundry • Dishwasher
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1 bd $323+2 bd $383+Base rent Income restricted2600 Elm Street, Terre Haute, IN 47803Apply online • Pet friendly • Fitness center
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Studio $2371 bd $208+2 bd $250Base rent3.0 (2)717 Franklin Street, Michigan City, IN 46360Pet friendly -
Studio $485+Base rent Income restricted625 W Washginton Street, South Bend, IN 46601Apply online • Pet friendly • In unit laundry
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Ask for PricingIncome restricted4.5 (6)4750 N Lenzy Way, Bloomington, IN 47404Apply online • Pet friendly • Fitness center
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1 bd $479+Base rent4.0 (5)600 W NORTH ST, GREENFIELD, IN 46140Pet friendly • Fitness center • In unit laundry
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Studio $4211 bd $2442 bd $400+Base rent202 E. Chestnut Street, Hartford City, IN 47348Pet friendly • Dishwasher • Air conditioner
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Ask for pricingIncome restricted2018 Cedar Lane, Franklin, IN 46131Pet friendly • Parking • Patio/Balcony
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Ask for pricingIncome restricted201 S Detroit St, Warsaw, IN 46580Pet friendly • Fitness center • Dishwasher
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Ask for pricingIncome restricted307 S. Whitley St., Columbia City, IN 46725Pet friendly • Parking • Fitness center
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1 bd $482+Base rent1200 SYCAMORE ESTATES DRIVE, LAWRENCEBURG, IN 47025Fitness center • In unit laundry • Dishwasher
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1 bd $500Base rent4.0 (7)5719 Massachusetts Ave, Indianapolis, IN 46218 -
Ask for pricingIncome restricted2525 Durbin Street, Warsaw, IN 46580Pet friendly • Fitness center • Dishwasher
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1 bd $494Base rent1200 Sycamore Estates Drive, Lawrenceburg, IN 47025Pet friendly -
Ask for PricingIncome restricted307 N Pete Ellis Drive, Bloomington, IN 47408Pet friendly • In unit laundry • Patio/Balcony
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Ask for pricingIncome restricted4.5 (2)600 E. Chestnut Street, Corydon, IN 47112Pet friendly • Fitness center • Dishwasher
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2 bd $485+3 bd $499+Base rent4.0 (1)1100 Phoenix Court, Columbus, IN 47201
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Ask for pricingIncome restricted4.5 (18)51 West 10Th Street, Hobart, IN 46342Pet friendly • Fitness center • Patio/Balcony
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1 bd $3502 bd $400+Base rent500 South Poplar St., Seymour, IN 47274
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Frequently asked questions
When were prices and availability in Indiana last updated?
Prices and availability in Indiana were last updated on 2 Aug 2026.
What are the best apartments in Indiana?
The best apartments in Indiana are: The Element @ St Andrews, 7 Pointe Apartments, Lawrence Landing, River 109 and The Sterling.
What type of rental buildings are in Indiana?
In Indiana 29% of the housing is rented out compared to 71% of homes are owned, according to the most recent Census Bureau estimates. 9% of Indiana's apartments are found in large buildings of 50 units or more, 55% are located in smaller apartment complexes with less than 50 units, and 33% are single-family rentals.
Renting apartments in Indiana under $500
Searching for apartments for rent in Indiana under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away. In Indiana, where the average rent is $527 per month, there are 77 units available for less than $500. Click on any of these units to see pictures, floor plans, amenities and more. After you have picked your favorite, you can contact the property to check availability. Considering that you are trying to spend as little as possible, looking at 1 bedroom apartments and studio apartments might be a good idea.
We’ll help you find the cheapest rental near you
Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Indiana. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Indiana going for $208 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.