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

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
close
View Me
705 W Elm St
Studio to 4 Bedroom Apartments

705 W Elm St

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

302 W Locust St

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

2204 Alpha Dr

2204 Alpha DrDanville, IL 61832
close
View Me
106 N gregory
1 Bedroom Apartments

106 N gregory

106 N Gregory StUrbana, IL 61801
close
View Me
Willow Springs
2 Bedroom Apartments

Willow Springs

1606 Willow View RdUrbana, IL 61802
Furnished
  • Utilities Included

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.

Read Article
close
View Me
202 E Crockett
2 Bedroom Apartments

202 E Crockett

202 Crockett StCatlin, IL 61817
close
View Me
Windsor Duplexes
2 Bedroom Apartments

Windsor Duplexes

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

813 W Main

813 W Main StUrbana, IL 61801
close
View Me
608 E Chalmers
Studio to 4 Bedroom Apartments

608 E Chalmers

608 E Chalmers StChampaign, IL 61820
Student Housing
close
View Me
1003 W Stoughton
1 to 2 Bedroom Apartments

1003 W Stoughton

1003 W Stoughton StUrbana, IL 61801
Corporate Housing
  • 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.

Read Article
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 1 Bed unit found at Brookhaven priced from $717. Bailey Student Apartments Available 2026! has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Allerton apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brookhaven1 Bed/ 1 Bath1BR,1BA$717
Bailey Student Apartments Available 2026!901 W Springfield1BR,1BA$750
Urbana Estates1x1Urbana Estates1BR,1BA$800
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
Aspen CourtThe Beech1BR,1BA$847
University ParkOne Bedroom1BR,1BA$850
Element on MainStudioStudio,1BA$875
Town & Country ApartmentsKensington1BR,1BA$893
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$925
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$1,060

Best Value Apartments for Rent in Allerton, IL and Nearby

As of April 27, 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
The Courtyards @ Prairie Fields2 bedroom2BR,2BA$1.41
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Parkside2 Bedroom 1 Bath 850 SF Upgrade2BR,1BA$1.42
University ParkTwo Bedroom2BR,1BA$1.17
202 RaceBeautiful 2BD Condo in Downtown Urbana! Availab...2BR,1BA$1.44
Prairie Green Apartment Homes2 Bed 1 Bath2BR,1BA$1.19
1008 S. 4thB32BR,2BA$1.56
Urbana Estates1x1Urbana Estates1BR,1BA$1.22

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Explore Allerton, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Allerton, IL

View Map
Allerton, IL Apartments Map
View Map
Allerton, IL Rental Homes Map

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 $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 $850 at Bailey Student Apartments Available 2026!.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.