Cheap Apartments for Rent in Allerton, IL from $500 (36 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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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

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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Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included

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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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
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608 E Chalmers
Studio to 4 Bedroom Apartments

608 E Chalmers

608 E Chalmers StChampaign, IL 61820
Student Housing

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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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. Town & Country Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $818. Here is today’s list of the most affordable Allerton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BrookhavenStudioStudio,1BA$525
Town & Country ApartmentsHeritage1BR,1BA$818
Aspen CourtThe Beech1BR,1BA$825
University ParkOne Bedroom1BR,1BA$850
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$1,060
Parkside2 Bedroom 1 Bath - 850 SF2BR,1BA$1,080
Stone Ridge Square2 Bedroom 2 Bath - 980 SF2BR,2BA$1,250
Sterling on First2x2 Chrome2BR,2BA$1,329
Yugo Urbana IllinoisStudio ClassicStudio,1BA$1,359
The Whitney ApartmentsCharming 2 Bed, 2 Bath – Perfect for Families o...2BR,2BA$1,375

Best Value Apartments for Rent in Allerton, IL and Nearby

As of December 13, 2025 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 2 Bedroom Model at Eastland Apartments starting at $1,395 with a $1.28 price per square foot . 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
Eastland Apartments2 Bedroom2BR,2BA$1.28
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Stone Ridge Square2 Bedroom 2 Bath - 980 SF2BR,2BA$1.28
Parkside2 Bedroom 1 Bath 850 Premium Upgrade2BR,1BA$1.42
University ParkTwo Bedroom2BR,1BA$1.17
Sterling on First2x2 Chrome2BR,2BA$1.60
1008 S. 4thB32BR,2BA$1.56
Town & Country ApartmentsBrentwood1BR,1BA$1.51
Brookhaven1 Bed/ 1 Bath1BR,1BA$1.54

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

Explore Allerton, IL Rentals by Map

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Getting Around Allerton, IL

Bike Score®

26 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Allerton Apartments

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

The lowest price for a Cheap One Bedroom Allerton Apartment is $650 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 $725 at Brookhaven.

What is the most affordable Allerton Three Bedroom Apartment?

The best deal on a cheap Allerton Three Bedroom Apartment rental is at Brookhaven and starts from $975.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.