Cheap Apartments for Rent in Alhambra, IL from $400 (32 Rentals)

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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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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McKay Manor
1 to 3 Bedroom Apartments

McKay Manor

1 McKay Manor DrBreese, IL 62230

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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property at 106 Lee Dr

$1,025

2 Bedroom Rentals

Available Now

106 Lee Dr

O'FallonIL62269

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Showing Results 1-32, 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 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $475. 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$475
Rocwood Apartments1BR Units1BR,1BA$700
Flax Meadow TownhomesTwo Bed2BR,1BA$715
Lakewood Estates1 Bedroom1BR,1BA$750
Broadway PlaceTwo Bedroom Apartment2BR,1BA$752
Cedar Point ApartmentsEfficiencyStudio,1BA$775
The Georgetown Apartments1 Bed, 1 bath1BR,1BA$775
Kingsbury Campus Apartments2 Beds, 1 Bath Model2BR,1BA$800
ReNew at AltonFinley1BR,1BA$989

Best Value Apartments for Rent in Alhambra, IL and Nearby

As of June 14, 2026 the best value apartment in the Alhambra area is the $0.54 price per square foot D1 Model at Parc at 720 in the in the Fruit Maple Carpenter neighborhood starting from $760. The second greatest value Alhambra apartment is the 3 Bd Townhouse w/ Garage Model at BSB Apartments starting at $1,150 with a $1.04 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$0.54
BSB Apartments3 Bd Townhouse w/ Garage3BR,2BA$1.04
Parkview2x1.52BR,1.5BA$1.05
Flax Meadow TownhomesTwo Bed2BR,1.5BA$0.81
Lakewood Estates1 Bedroom1BR,1BA$0.94
Kingsbury Campus Apartments2 Beds, 1 Bath Model2BR,1BA$1.05
McKay Manor1 Bdrm1BR,1BA$0.64
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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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!

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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 Broadway Place and starts from $859.

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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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.