Cheap Apartments for Rent in Champaign, IL from $300 (278 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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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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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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property at 209 W Eureka St

$1,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,300
Total Monthly Price
$1,300

3 Bedroom, 1 Bath Home for Rent

Available Aug 1

209 W Eureka St

ChampaignIL61820
property at 27 Colony West Dr

$1,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,300
Total Monthly Price
$1,300

2 Bedroom, 1.5 Bath Townhome for Rent

Available Aug 1

27 Colony West Dr

ChampaignIL61820

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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Champaign, IL Local Guide

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Cheapest Neighborhoods for Apartments in Champaign, IL

Pricing Updated: 06/06/2026

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$1,780$57526
Campustown IL$1,837$57528
Downtown Champaign$2,400$57541

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. Parker Glen has the second lowest priced unit, which is a 1 Bed apartment currently listed from $499. 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
Parker Glen1Bdrm1BR,1BA$499
THE ALCOVE @ SECOND & JOHN3 Bedroom 1 Bath3BR,1BA$600
1002SECFall 2026 Leasing – 4-Bedroom, 2-Bath4BR,2BA$699
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
Twin Oaks2423 W. Bradley Ave1BR,1BA$800
58 E Healey58 E Healey - 3081BR,1BA$825
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
Wellington Place1 Bedroom on the 1st floor1BR,1BA$850
University ParkOne Bedroom1BR,1BA$850

Best Value Apartments for Rent in Champaign, IL

As of June 06, 2026 the best value apartment in the Champaign area is the $1.07 price per square foot 2 Bedroom/2.5 bath Model at 200 Vine St in the starting from $1,675. The second greatest value Champaign apartment is the D1 Model at Campus Circle Urbana starting at $919 with a $0.65 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.
200 Vine St2 Bedroom/2.5 bath2BR,2BA$1.07
Campus Circle UrbanaD14BR,4BA$0.65
Park Place2 Beds, 2 baths2BR,2BA$0.70
201 S Busey Ave201 S Busey Ave - 22BR,1BA$1.07
59JOH4 Bedroom Apartment @ First & John: Available N...4BR,3BA$0.46
Pfeffer Apartments - NOW LEASING AUGUST 2026Shared Apartment Individual Lease1BR,1BA$0.58
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
The Linc Apartments2x22BR,2BA$0.88
Colonial VillageCharleston2BR,1BA$1.03
Capstone QuartersTwo Bedroom Select2BR,2BA$0.80

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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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 $850.

What is the price of a cheap apartment in Champaign?

The cheapest apartment in Champaign is Parker Glen which is listed at $499, while the average apartment in Champaign costs $2,005.

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 54 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 $1,150 which is $855 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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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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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.