Cheap Apartments for Rent near Banner, IL from $500 (30 Rentals)

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

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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8710 W Main St
Studio Apartments

8710 W Main St

8710 W Main StMapleton, IL 61547
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1001 Veerman St
1 Bedroom Apartments

1001 Veerman St

1001 Veerman StPekin, IL 61554
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2112-2117 N Linn St
1 Bedroom Apartments

2112-2117 N Linn St

2112-2117 N Linn StPeoria, IL 61604
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2604 Pine St
Studio to 1 Bedroom Apartments

2604 Pine St

2604 Pine StPekin, IL 61554
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1107 Pekin Ave
1 Bedroom Apartments

1107 Pekin Ave

1107 Pekin AveCreve Coeur, IL 61610

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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Cityscape
2 to 3 Bedroom Apartments

Cityscape

601 W Romeo B Garrett AvePeoria, IL 61605
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301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

301 N Carole AveHanna City, IL 61536

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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Elm Haven
1 to 2 Bedroom Apartments

Elm Haven

101 N Rose StElmwood, IL 61529
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Showing Results 1-30, Page 1 of 1

Banner, IL Local Guide

Cheapest Available Banner Apartments for Rent and Nearby

 

The cheapest available apartment rental in Banner, IL is a 2 Beds unit found at Cityscape in the Averyville neighborhood priced from $711. Willow Oaks Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $760. Here is today’s list of the most affordable Banner apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cityscape2 Bedroom2BR,2BA$711
Willow Oaks ApartmentsOne Bedroom1BR,1BA$760
The Avenue Apartments1B/ 1BA1BR,1BA$795
Williamsburg TownhousesOne Bedroom1BR,1BA$795
Civic Center Plaza ApartmentsStudioStudio,1BA$825
ASPEN BLUFF APARTMENTSOne Bedroom One Bathroom1BR,1BA$850
Hollow Hills ApartmentsStudio / 1 Bath (518 sqft)Studio,1BA$875
Sunset Hills ApartmentsSunset Hills3BR,2BA$925
Marquette PlaceStudioStudio,1BA$950
EMR Apartments1/1 Standard1BR,1BA$963

Best Value Apartments for Rent in Banner, IL and Nearby

As of July 09, 2026 the best value apartment in the Banner area is the $0.71 price per square foot Sunset Hills Model at Sunset Hills Apartments in the starting from $925. The second greatest value Banner apartment is the Three Bedroom/Two Bath Model at The Residences at Rosemary Crossing I starting at $1,620 with a $1.25 price per square foot . Here is today’s list of the best values for Banner apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunset Hills ApartmentsSunset Hills3BR,2BA$0.71
The Residences at Rosemary Crossing IThree Bedroom/Two Bath3BR,2BA$1.25
107 NE Roanoke Ave3 Bedroom3BR,1BA$1.27
Cityscape2 Bedroom2BR,2BA$0.70
Brandywine Crossing Apartments2 Bedroom 2 Bath2BR,2BA$1.14
Haymeadow ApartmentsFarmstead2BR,1BA$1.28
Willow Oaks ApartmentsOne Bedroom1BR,1BA$1.04
The Avenue Apartments1B/ 1BA1BR,1BA$1.29
Civic Center Plaza ApartmentsStudioStudio ,1BA$1.38
Williamsburg TownhousesOne Bedroom1BR,1BA$1.37

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 Banner, IL Rentals by Map

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See the most popular apartments and homes in Banner, IL

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Frequently Asked Questions about Cheap Banner Apartments

What is the Cheapest Studio apartment in Banner?

Currently the most affordable Cheap Studio Apartment in Banner is at Civic Center Plaza Apartments listed at $825.

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

The lowest price for a Cheap One Bedroom Banner Apartment is $760 at Willow Oaks Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Banner is starting from $711 at Cityscape.

What is the most affordable Banner Three Bedroom Apartment?

The best deal on a cheap Banner Three Bedroom Apartment rental is at Cityscape and starts from $818.

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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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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.