Cheap Apartments for Rent in Champaign, IL from $450 (239 Rentals)

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

property at 904 Fairoaks Dr
$650

Total Monthly Price

Base Rent$650
Total Monthly Price$650
4 Bedroom, 2 Bath Home for Rent
Available Now
Affordability

904 Fairoaks Dr

ChampaignIL61821

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 313 Cottage Ct
$900
1 Bedroom Rentals
Available Now
Affordability

313 Cottage Ct

ChampaignIL61820
property at 909 S 1st St
$920
1 Bedroom Rentals
Available Now
Affordability

909 S 1st St

ChampaignIL61820

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 402 N Prairie St
$1,134
2 Bedroom Rentals
Available Now
Affordability

402 N Prairie St

ChampaignIL61820
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Colony Court
$1,135 - $1,285

Total Monthly Price

Base Rent$1,135 - $1,285
Total Monthly Price$1,135 - $1,285
2 to 3 Bedroom Apartments Contact Us For Availability

Colony Court

502 S Mattis AveChampaign, IL 61821
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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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706 S Locust St
Studio to 2 Bedroom Apartments

706 S Locust St

706 S Locust StChampaign, IL 61820
Student Housing
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305JOH
2 to 4 Bedroom Apartments

305JOH

305 E John StChampaign, IL 61820
Student Housing

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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Champaign, IL Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Champaign, IL

Pricing Updated: 09/05/2026

Current apartment rentals in the Champaign, IL area range in price from $450 to $3,300 with an overall median price of $1,303. Here is today’s list neighborhoods with the lowest median pricing for Champaign Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Campustown IL$1,275$45060
Downtown Champaign$1,317$45088
Midtown Champaign$1,325$65024

Cheapest Available Champaign Apartments for Rent

 

The cheapest available apartment rental in Champaign, IL is a 4 Beds unit found at 305JOH in the Downtown Champaign neighborhood priced from $450. 308GRE has the second lowest priced unit, which is a 2 Beds apartment currently listed from $450. Here is today’s list of the most affordable Champaign apartments for rent:

Apartment ListingModel NameBed/BathPriced From
305JOHIndividual Bedroom Available | Shared 4 Bed/3 B...4BR,3BA$450
308GREFall 2026 Leasing: 2 Bed / 1.5 Bath Apartment –...2BR,1BA$450
1002SECFlexible Bedroom LeasesStudio,2BA$450
705MAIAvailable Now – Furnished Bedrooms Near Downtow...3BR,1BA$450
1012 S 1st StIndividual Lease2BR,1BA$450
Parker Glen1Bdrm1BR,1BA$533
813 W Springfield1 Space left! Fall lease, two bed one bath apar...2BR,1BA$559
Windcrest ApartmentsStudioStudio,1BA$650

Best Value Apartments for Rent in Champaign, IL

As of September 05, 2026 the best value apartment in the Champaign area is the $0.38 price per square foot Three Bedroom Mix Model at Capstone Quarters in the starting from $535. The second greatest value Champaign apartment is the 4x2 Model at Maywood Apartments starting at $975 with a $0.71 price per square foot in the Downtown Champaign neighborhood. Here is today’s list of the best values for Champaign apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Capstone QuartersThree Bedroom Mix3BR,3BA$0.38
Maywood Apartments4x24BR,2BA$0.71
Campus Circle UrbanaD24BR,4BA$0.66
606 E Stoughton$1,000 Gift Card! 5 Bed Spaces Left! Available ...4BR,2BA$0.61
Onyx Apartments4x24BR,2BA$0.55
512 E Green4x34BR,3BA$0.75
Town Center Apartments3 Bedroom 2 Bath3BR,2BA$0.70
The Linc Apartments3x33BR,3BA$0.65
The MansionIndividual Bedroom Leases3BR,1BA$0.61
Parker Glen1Bdrm1BR,1BA$0.72

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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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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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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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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Champaign Overview

Located in Champaign County lies the town of Champaign, IL. This town shares the University of Illinois campus with its sister city Urbana. Filled with students there is always something interesting going on around the city. You will never get bored, living in one of our pretty apartments in Champaign.

Why live in Champaign, IL?

This town has a small town feel to it, because the ambiance of the place vibrates with friendliness and enthusiasm. Some think it is college students, who seem to bring so much energy to the place. You will experience so many things to do without even leaving the city. If you enjoy an upbeat atmosphere, you will be delighted in one of our Champaign apartments.

Champaign, IL
Population: 88,029

Ranked #377

in US Census Population by City

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Best Local Schools in
Champaign, IL

School data provided by Great Schools

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

Explore Champaign, IL Rentals by Map

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See the most popular apartments and homes in Champaign, IL

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Frequently Asked Questions about Cheap Champaign Apartments

What is a cheap apartment in Champaign?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Champaign is under $650.

What is the price of a cheap apartment in Champaign?

The cheapest apartment in Champaign is Parker Glen which is listed at $533, while the average apartment in Champaign costs $1,303.

What types of apartments are the cheapest in Champaign?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 118 regular apartments in Champaign that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Champaign?

Cheap apartments in Champaign have an average cost of $1,147 which is $156 cheaper than the average rent for all rentals in Champaign.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.