Cheap Apartments for Rent in Alma, IL from $400 (35 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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McKay Manor
1 to 3 Bedroom Apartments

McKay Manor

1 McKay Manor DrBreese, IL 62230

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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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • 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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215 anderson lane A
1 to 2 Bedroom Apartments

215 anderson lane A

215-223 Anderson LnShiloh, IL 62221
  • 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.

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property at 106 Lee Dr

$1,025

2 Bedroom Rentals

Available Now

106 Lee Dr

O'FallonIL62269
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Alma, IL Local Guide

Cheapest Available Alma Apartments for Rent and Nearby

 

The cheapest available apartment rental in Alma, 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 Alma apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cedars of Lebanon ApartmentsTwo Bedroom2BR,1BA$200
McKay Manor1 Bdrm1BR,1BA$475
Flax Meadow TownhomesTwo Bed2BR,1BA$715
Lakewood Estates1 Bedroom1BR,1BA$750
Kingsbury Campus Apartments2 Beds, 1 Bath Model2BR,1BA$800
The Raymond ApartmentsTwo bedroom2BR,1BA$800
Bouse Apartment Homes1 Bedroom 1 Bath1BR,1BA$845
Green Door ApartmentsSave up to $500 off Move In Costs with your EXC...1BR,1BA$1,000
Linwood ApartmentsTwo Bed One Bath2BR,1BA$1,000
Chesterfield Village1 Bedroom 1 Bath1BR,1BA$1,004

Best Value Apartments for Rent in Alma, IL and Nearby

As of June 22, 2026 the best value apartment in the Alma area is the $1.04 price per square foot 3 Bd Townhouse w/ Garage Model at BSB Apartments in the in the Metro East neighborhood starting from $1,150. The second greatest value Alma apartment is the Two Bed One Bath Model at Linwood Apartments starting at $1,000 with a $0.91 price per square foot in the OFallon neighborhood. Here is today’s list of the best values for Alma apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
BSB Apartments3 Bd Townhouse w/ Garage3BR,2BA$1.04
Linwood ApartmentsTwo Bed One Bath2BR,1BA$0.91
1118 E 3rd St2 Beds, 1 bath2BR,1BA$1.18
Storyboard on LancashireLancashire B12BR,1BA$1.18
Flax Meadow TownhomesTwo Bed2BR,1.5BA$0.81
Lakewood Estates1 Bedroom1BR,1BA$0.94
The Raymond ApartmentsTwo bedroom2BR,1BA$1.00
Kingsbury Campus Apartments2 Beds, 1 Bath Model2BR,1BA$1.05
McKay Manor1 Bdrm1BR,1BA$0.64
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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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 Alma, IL Rentals by Map

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Frequently Asked Questions about Cheap Alma Apartments

What is the Cheapest Studio apartment in Alma?

Currently the most affordable Cheap Studio Apartment in Alma is at Cedars of Lebanon Apartments listed at $200.

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

The lowest price for a Cheap One Bedroom Alma Apartment is $200 at Cedars of Lebanon Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Alma is starting from $200 at Cedars of Lebanon Apartments.

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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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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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.