Looking for a cheap apartment for rent in Bloomington, IN? With RENTCafé, finding an affordable apartment in Bloomington, IN has never been easier. We feature 32 low-priced rentals directly from property managers, with rents lower than the Bloomington, IN average. What is a cheap rent in Bloomington, IN? The average apartment rent in Bloomington is $1,046 per month so any rental south of $836 would be considered cheap here. Size matters though, so if you are in a market for a studio, expect to pay around $446 per month. If you’re looking to upgrade to a 1-bedroom apartment you’ll pay around $574, while a cheap 2-bedroom apartment will cost you about $705 per month. On RENTCafé, Bloomington, IN rents go as low as $509/mo.