Cheap Apartments for Rent in Banner, IL from $500 (40 Rentals)

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

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The Avenue Apartments
$575 - $800
Total Monthly Price

Total Monthly Price

Base Rent
$535 - $760
Required Monthly Fees
$40
Total Monthly Price
$575 - $800
Studio to 2 Bedroom Apartments Available Now

The Avenue Apartments

900 W Moss AvePeoria, IL 61606
Corporate Housing
  • Verified
  • Customer Reviewed
  • Utilities Included
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Hollow Hills
$700 - $1,400
Total Monthly Price

Total Monthly Price

Base Rent
$595 - $1,295
Required Monthly Fees
$105
Total Monthly Price
$700 - $1,400
Studio to 3 Bedroom Apartments Available Now

Hollow Hills

4019 W Hollow Creek DrPeoria, IL 61615
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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Elm Haven Place
$895
Total Monthly Price

Total Monthly Price

Base Rent
$650
Required Monthly Fees
$245
Total Monthly Price
$895
1 Bedroom Apartments Available Now

Elm Haven Place

101 N Rose StElmwood, IL 61529
Senior Living
  • Verified
  • Customer Reviewed
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1001 Veerman St
1 Bedroom Apartments

1001 Veerman St

1001 Veerman StPekin, IL 61554
  • Utilities Included
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8710 W Main St
Studio Apartments

8710 W Main St

8710 W Main StMapleton, IL 61547
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1107 Pekin Ave
1 Bedroom Apartments

1107 Pekin Ave

1107 Pekin AveCreve Coeur, IL 61610
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2604 Pine St
Studio to 1 Bedroom Apartments

2604 Pine St

2604 Pine StPekin, IL 61554
  • 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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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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301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

301 N Carole AveHanna City, IL 61536
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Cityscape Apartments
2 to 3 Bedroom Apartments

Cityscape Apartments

601 W Romeo B Garrett AvePeoria, IL 61605
  • Utilities Included

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Showing Results 1-40, 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 1 Bed unit found at Linn St Commons in the West Peoria neighborhood priced from $600. The Avenue Apartments in the West Peoria neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here is today’s list of the most affordable Banner apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Linn St Commons1BR/1BA1BR,1BA$600
The Avenue Apartments1B/ 1BA1BR,1BA$650
Hollow HillsStudioStudio,1BA$700
Willow Oaks ApartmentsOne Bedroom1BR,1BA$760
Williamsburg TownhousesOne Bedroom1BR,1BA$795
Civic Center Plaza ApartmentsStudioStudio,1BA$825
Brandywine Crossing Apartments1 Bedroom G1BR,1BA$850
Forrest Edge Apartments2 bed 1.5 bath2BR,1BA$875
Marquette PlaceStudioStudio,1BA$880
Elm Haven PlaceSecurity Deposit Special ONLY $500.00!1BR,1BA$895

Best Value Apartments for Rent in Banner, IL and Nearby

As of February 21, 2026 the best value apartment in the Banner area is the $0.95 price per square foot 2 BR Model at 511 W High St in the in the Averyville neighborhood starting from $2,100. The second greatest value Banner apartment is the Sunset Hills Model at Sunset Hills Apartments starting at $925 with a $0.71 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.
511 W High St2 BR2BR,3BA$0.95
Sunset Hills ApartmentsSunset Hills3BR,2BA$0.71
1113 W Moss AveA2BR,1BA$0.83
Hollow Creek IV ApartmentsHCIV2D1FP2BR,2BA$1.24
Churchview Garden Homes3 Bedroom3BR,2BA$0.88
ASPEN BLUFF APARTMENTSThree Bedrooms Two Bathroom3BR,2BA$1.14
Willow Oaks ApartmentsOne Bedroom1BR,1BA$1.04
Linn St Commons1BR/1BA1BR,1BA$0.87
Hollow HillsStudioStudio ,1BA$1.08
The Avenue Apartments1B/ 1BA1BR,1BA$1.06

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

Explore Banner, IL Rentals by Map

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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 Hollow Hills listed at $700.

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

The lowest price for a Cheap One Bedroom Banner Apartment is $600 at Linn St Commons.

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 $750 at The Avenue Apartments.

What is the most affordable Banner Three Bedroom Apartment?

The best deal on a cheap Banner Three Bedroom Apartment rental is at Sunset Hills Apartments and starts from $925.

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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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.

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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.