Cheap Apartments for Rent near Alhambra, IL from $552 (35 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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Emerald Ridge
2 to 4 Bedroom Apartments

Emerald Ridge

615 3rd StEast Alton, IL 62024
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Lakewood Estates
1 to 2 Bedroom Apartments

Lakewood Estates

1114 E 3rd StO'Fallon, IL 62269

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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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 1-35, 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 1 Bed unit found at Rocwood Apartments in the Wood River neighborhood priced from $700. 326 E Central St in the Bethalto neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here is today’s list of the most affordable Alhambra apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rocwood Apartments1BR Units1BR,1BA$700
326 E Central St1 bed 1 bath1BR,1BA$700
Broadway PlaceTwo Bedroom Apartment2BR,1BA$752
Cedar Point ApartmentsStudioStudio,1BA$775
McKay Manor3 Bdrm3BR,2BA$800
The Georgetown Apartments1 BEDROOM1BR,1BA$825
Metro Apartments at Wood River1BR/1B Thompson1BR,1BA$1,000
Metro Apartments at Granite City2BR/1B TH2BR,1BA$1,200
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 September 12, 2026 the best value apartment in the Alhambra area is the $1.03 price per square foot 3Bd Deluxe Townhouse w/ Garage Model at BSB Apartments in the in the Metro East neighborhood starting from $1,550. The second greatest value Alhambra apartment is the 3 Bdrm Model at McKay Manor starting at $800 with a $0.63 price per square foot in the Clinton County 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.
BSB Apartments3Bd Deluxe Townhouse w/ Garage3BR,2BA$1.03
McKay Manor3 Bdrm3BR,2BA$0.63
Storyboard on HaydenHayden B12BR,2.5BA$1.08
Parc at 720B12BR,2BA$0.81
Storyboard on Park EntrancePark Entrance B22BR,2BA$1.19
1118 E 3rd St2 Beds, 1 bath2BR,1BA$1.18
Storyboard on LancashireLancashire B12BR,1BA$1.18
Metro Apartments at Granite City2BR/1B TH2BR,1BA$1.20
Broadway PlaceTwo Bedroom Apartment2BR,1BA$1.03
Rocwood Apartments1BR Units1BR,1BA$1.13

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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

Explore Alhambra, IL Rentals by Map

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Frequently Asked Questions about Cheap Alhambra Apartments

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

The lowest price for a Cheap One Bedroom Alhambra Apartment is $700 at Rocwood 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 $752 at Broadway Place.

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 $800.

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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.