Cheap Apartments for Rent in Banner, IL from $500 (45 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 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.

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
8710 W Main St
Studio Apartments

8710 W Main St

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

1001 Veerman St

1001 Veerman StPekin, IL 61554
  • Utilities Included
close
View Me
Linn St Commons
1 Bedroom Apartments

Linn St Commons

2112-2117 N Linn StPeoria, IL 61604
  • Utilities Included
close
View Me
2604 Pine St
Studio to 1 Bedroom Apartments

2604 Pine St

2604 Pine StPekin, IL 61554
  • Utilities Included
close
View Me
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.

Read Article
close
View Me
301 N Carole Ave
1 Bedroom Apartments

301 N Carole Ave

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

Cityscape Apartments

601 W Romeo B Garrett AvePeoria, IL 61605
  • 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
Elm Haven
1 to 2 Bedroom Apartments

Elm Haven

101 N Rose StElmwood, IL 61529
Senior Living
close
View Me
511 W High St
1 to 2 Bedroom Apartments

511 W High St

511 W High StPeoria, IL 61606
close
View Me
911 Hamilton St
1 to 3 Bedroom Apartments

911 Hamilton St

911 Hamilton StPekin, IL 61554

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 1-45, 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 Studio unit found at Hollow Hills in the Windchime neighborhood priced from $700. 107 NE Roanoke Ave in the Averyville neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here is today’s list of the most affordable Banner apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hollow HillsStudioStudio,1BA$700
107 NE Roanoke AveStudioStudio,1BA$750
Willow Oaks ApartmentsOne Bedroom1BR,1BA$760
Williamsburg TownhousesOne Bedroom1BR,1BA$795
The Avenue Apartments1B/ 1BA1BR,1BA$795
Civic Center Plaza ApartmentsStudioStudio,1BA$825
ASPEN BLUFF APARTMENTSOne Bedroom One Bathroom1BR,1BA$850
Forrest Edge Apartments2 bed 1.5 bath2BR,1BA$875
502 W High St1 Bedroom1BR,1BA$900
Sunset Hills ApartmentsSunset Hills3BR,2BA$925

Best Value Apartments for Rent in Banner, IL and Nearby

As of May 25, 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 HCIV2S1FP Model at Hollow Creek IV Apartments starting at $1,400 with a $1.22 price per square foot in the Windchime neighborhood. 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
Hollow Creek IV ApartmentsHCIV2S1FP2BR,2BA$1.22
Hollow Hills3 bedroom 2 bath3BR,2BA$1.33
502 W High St1 Bedroom1BR,1BA$1.03
Westporte ApartmentsWP2B2BR,1BA$1.27
Willow Oaks ApartmentsOne Bedroom1BR,1BA$1.04
Haymeadow ApartmentsSpringhouse1BR,1BA$1.32
The Avenue Apartments1B/ 1BA1BR,1BA$1.29
Williamsburg TownhousesOne Bedroom1BR,1BA$1.37
107 NE Roanoke AveStudioStudio ,1BA$1.36

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

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.

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 Banner, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Banner, IL

View Map
Banner, IL Apartments Map
View Map
Banner, IL Rental Homes Map

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 $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 $830 at Willow Oaks 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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.