Cheap Apartments for Rent in Champaign, IL from $300 (243 Rentals)

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

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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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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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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706 S Locust St
Studio to 2 Bedroom Apartments

706 S Locust St

706 S Locust StChampaign, IL 61820

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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Champaign, IL Local Guide

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Cheapest Neighborhoods for Apartments in Champaign, IL

Pricing Updated: 04/21/2026

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

NeighborhoodMedian PriceMin PriceAvailable Units
Midtown Champaign$1,505$57533
Campustown IL$1,837$57549
Downtown Champaign$1,867$57567

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 $499. 106 S Gregory has the second lowest priced unit, which is a 4 Beds apartment currently listed from $639. Here is today’s list of the most affordable Champaign apartments for rent:

Apartment ListingModel NameBed/BathPriced From
305JOHSpacious 4 Bed/3 Bath Apartment on the corner o...4BR,3BA$499
106 S GregorySpring lease, four bed two bath apartment in Gr...4BR,2BA$639
1002SECFall 2026 Leasing – 4-Bedroom, 2-Bath4BR,2BA$658
207 S FifthAVAILABLE NOW! Unit 203 Bedroom B Cozy 4x2 Uppe...4BR,2BA$659
107 E SpringfieldSpring semester move in, two bed one bath apart...2BR,1BA$709
Bailey Student Apartments Available 2026!901 W Springfield1BR,1BA$750
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
Twin Oaks2423 W. Bradley Ave1BR,1BA$800
58 E Healey58 E Healey - 3091BR,1BA$825
408 E HealeyFall lease, two bed one bath apartment in Midto...2BR,1BA$829

Best Value Apartments for Rent in Champaign, IL

As of April 21, 2026 the best value apartment in the Champaign area is the $0.80 price per square foot Fall lease, four bed four bath apartment in Qua... Model at 608 E Chalmers in the in the Downtown Champaign neighborhood starting from $1,060. The second greatest value Champaign apartment is the 2517 Leeper Dr Model at Southwest Apartments starting at $1,200 with a $1.00 price per square foot . 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.
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$0.80
Southwest Apartments2517 Leeper Dr2BR,1.5BA$1.00
Tuscany Ridge Townhomes2 Bedroom Townhome2BR,2.5BA$1.00
59JOH4 Bedroom Apartment @ First & John: Available N...4BR,3BA$0.46
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Pfeffer Apartments - NOW LEASING AUGUST 2026Shared Apartment Individual Lease1BR,1BA$0.58
The Linc Apartments2x22BR,2BA$0.88
207 S FifthAVAILABLE NOW! Unit 203 Bedroom B Cozy 4x2 Uppe...4BR,2BA$0.69
106 S GregorySpring lease, four bed two bath apartment in Gr...4BR,2BA$0.69
Capstone QuartersTwo Bedroom Select2BR,2BA$0.80

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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 $829.

What is the price of a cheap apartment in Champaign?

The cheapest apartment in Champaign is Bailey Student Apartments Available 2026! which is listed at $750, while the average apartment in Champaign costs $1,736.

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 95 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 $1,003 which is $733 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

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.

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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.