Cheap Apartments for Rent near Alhambra, IL from $400 (31 Rentals)

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Search the lowest-cost Apartments available for rent right now in Alhambra.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Lakewood Estates
1 to 2 Bedroom Apartments

Lakewood Estates

1114 E 3rd StO'Fallon, IL 62269

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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Showing Results 1-31, Page 1 of 1

Alhambra, IL Local Guide

Cheapest Available Alhambra Apartments for Rent and Nearby

 

The cheapest available apartment rental in Alhambra, IL is a 2 Beds unit found at Cedars of Lebanon Apartments in the Metro East neighborhood priced from $200. McKay Manor in the Clinton County neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $486. Here is today’s list of the most affordable Alhambra apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cedars of Lebanon ApartmentsTwo Bedroom2BR,1BA$200
McKay Manor1 Bdrm1BR,1BA$486
Rocwood Apartments1BR Units1BR,1BA$700
Flax Meadow TownhomesTwo Bed2BR,1BA$715
Broadway PlaceTwo Bedroom Apartment2BR,1BA$752
The Georgetown Apartments1 BEDROOM1BR,1BA$825
Cedar Point ApartmentsOne Bedroom Garden1BR,1BA$950
Metro Apartments At Collinsville1BR/1BA Cherokee Upgraded w/Carport1BR,1BA$1,150
Storyboard on LancashireLancashire B12BR,1BA$1,250
Township Village Apartments1 Bed, 1 bath1BR,1BA$1,254

Best Value Apartments for Rent in Alhambra, IL and Nearby

As of July 29, 2026 the best value apartment in the Alhambra area is the $0.63 price per square foot D1 Model at Parc at 720 in the in the Edwardsville neighborhood starting from $885. The second greatest value Alhambra apartment is the Hayden B1 Model at Storyboard on Hayden starting at $1,500 with a $1.20 price per square foot in the Metro East neighborhood. Here is today’s list of the best values for Alhambra apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parc at 720D14BR,4BA$0.63
Storyboard on HaydenHayden B12BR,2.5BA$1.20
Storyboard on Carol AnnCarol Ann B22BR,2BA$1.34
1118 E 3rd St2 Beds, 1 bath2BR,1BA$1.18
Storyboard on LancashireLancashire B12BR,1BA$1.18
Flax Meadow TownhomesTwo Bed2BR,1.5BA$0.81
McKay Manor1 Bdrm1BR,1BA$0.66
Broadway PlaceTwo Bedroom Apartment2BR,1BA$1.03
Rocwood Apartments1BR Units1BR,1BA$1.13
Cedars of Lebanon ApartmentsStudioStudio ,1BA$0.44

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Alhambra Apartments

What is the Cheapest Studio apartment in Alhambra?

Currently the most affordable Cheap Studio Apartment in Alhambra is at Cedars of Lebanon Apartments listed at $200.

How much is rent for a Cheap One Bedroom Alhambra Apartment?

The lowest price for a Cheap One Bedroom Alhambra Apartment is $200 at Cedars of Lebanon Apartments.

What is the lowest price for a Cheap Two Bedroom Alhambra Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Alhambra is starting from $200 at Cedars of Lebanon Apartments.

What is the most affordable Alhambra Three Bedroom Apartment?

The best deal on a cheap Alhambra Three Bedroom Apartment rental is at McKay Manor and starts from $587.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.