Cheap Apartments for Rent in Allerton, IL from $500 (37 Rentals)

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

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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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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705 W Elm St
Studio to 4 Bedroom Apartments

705 W Elm St

705 W Elm StUrbana, IL 61801
Corporate Housing
  • Utilities Included
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302 W Locust St
1 Bedroom Apartments

302 W Locust St

302 W Locust StUrbana, IL 61801
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2204 Alpha Dr
1 Bedroom Apartments

2204 Alpha Dr

2204 Alpha DrDanville, IL 61832
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Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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202 E Crockett
2 Bedroom Apartments

202 E Crockett

202 Crockett StCatlin, IL 61817
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Windsor Duplexes
2 Bedroom Apartments

Windsor Duplexes

907 E Harding DrUrbana, IL 61801
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813 W Main
2 Bedroom Apartments

813 W Main

813 W Main StUrbana, IL 61801

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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608 E Chalmers
Studio to 4 Bedroom Apartments

608 E Chalmers

608 E Chalmers StChampaign, IL 61820
Student Housing
Showing Results 1-37, Page 1 of 1

Allerton, IL Local Guide

Cheapest Available Allerton Apartments for Rent and Nearby

 

The cheapest available apartment rental in Allerton, IL is a Studio unit found at Brookhaven priced from $525. Urbana Estates has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Allerton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
Urbana Estates1x1Urbana Estates1BR,1BA$800
Aspen CourtThe Beech1BR,1BA$825
Town & Country ApartmentsFairfield1BR,1BA$836
University ParkOne Bedroom1BR,1BA$850
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$925
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$1,060
Stone Ridge Square1 Bedroom 1 Bath 730 SF1BR,1BA$1,070
Parkside2 Bedroom 1 Bath - 850 SF2BR,1BA$1,080
Parkstone Villas2Bed/2Bth2BR,2BA$1,250

Best Value Apartments for Rent in Allerton, IL and Nearby

As of January 26, 2026 the best value apartment in the Allerton area is the $1.07 price per square foot 2 Bedroom/2.5 bath Model at 200 Vine St in the starting from $1,675. The second greatest value Allerton apartment is the Fall lease, four bed four bath apartment in Qua... Model at 608 E Chalmers starting at $1,060 with a $0.80 price per square foot in the Downtown Champaign neighborhood. Here is today’s list of the best values for Allerton apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$0.80
Parkstone Villas2Bed/2Bth2BR,2BA$1.00
The Courtyards @ Prairie Fields2 bedroom2BR,2BA$1.41
Eastland Apartments2 Bedroom2BR,2BA$1.28
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Parkside2 Bedroom 1 Bath 850 Premium Upgrade2BR,1BA$1.42
University ParkTwo Bedroom2BR,1BA$1.17
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
Urbana Estates1x1Urbana Estates1BR,1BA$1.22

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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Quick Rent Budget Calculator

How much rent can you afford?

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 Allerton, IL Rentals by Map

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See the most popular apartments and homes in Allerton, IL

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Frequently Asked Questions about Cheap Allerton Apartments

What is the Cheapest Studio apartment in Allerton?

Currently the most affordable Cheap Studio Apartment in Allerton is at Brookhaven listed at $525.

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

The lowest price for a Cheap One Bedroom Allerton Apartment is $717 at Brookhaven.

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

Today's best deal for a Cheap Two Bedroom Apartment in Allerton is starting from $800 at Brookhaven.

What is the most affordable Allerton Three Bedroom Apartment?

The best deal on a cheap Allerton Three Bedroom Apartment rental is at Urbana Estates and starts from $1,000.

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.