1

Studio Apartment for Rent in Winona Lake, IN

Section Image
  • /8

    Starting at $1,275 Per Month

    • Studio - 2 Beds

    501 S Mckinley St, Warsaw, IN 46580

    Union Station Lofts – Warsaw Living, ElevatedIf you’ve been waiting for something different in Warsaw, Indiana… this is it.Union Station Lofts brings bold design, rooftop views, and walkable energy together in one unforgettable address. These one- and two-bedroom residences are open, airy, and filled with natural light — with sleek kitchens, modern finishes, and layouts that feel

    Union Station Lofts

    501 S Mckinley St, Warsaw, IN 46580

Why Live in Winona Lake

Winona Lake, Indiana, is a small community known for its scenic lake views, vibrant shops, and rich history. Located just a few miles east of Warsaw, it offers a laid-back atmosphere with ample recreation both on and off the water. The namesake lake spans nearly 600 acres, providing opportunities for boating, fishing, and other activities. Limitless Park, situated along the lake, features a beach, swimming area, splash pad, and an ADA-accessible playground. The town is also celebrated for its extensive trail system, including a rugged 9-mile mountain biking path. The Village at Winona, the historic canal-side commercial district, is home to 21 independently owned shops and restaurants, many housed in century-old buildings. Notable dining options include Cerulean, which serves Midwestern-inspired Asian cuisine. Winona Lake hosts numerous annual events such as the Fat and Skinny Tire Fest, Canal Days, and the Village Art Fair. The community is served by Warsaw Community Schools, which are highly rated and offer a variety of dual credit and Advanced Placement courses. Housing options range from early 1900s cottages to new builds and custom estates, with a median home price higher than nearby Warsaw. Winona Lake is a certified Bicycle Friendly Community, and its proximity to major cities like Chicago and Indianapolis, both about 125 miles away, adds to its appeal. Local medical care is available at Lutheran Kosciusko Hospital in Warsaw, and the area is anticipating economic growth with the arrival of an electric vehicle manufacturer.

Frequently Asked Questions

How much does it cost to rent a home in Winona Lake, IN?
The median rent for a home in Winona Lake, IN is $915 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Winona Lake, IN?
To comfortably afford the median rent in Winona Lake, IN, a household needs to earn roughly $36,600 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $915 per month in Winona Lake, IN, renters typically need to show $2,745 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Winona Lake, IN?
In Winona Lake, IN, the price-to-rent ratio is 31.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$915
Median Single Family Home Rent
$1,400
Median Condo Rent
$883
How to Rent a Home