Cheap Apartments for Rent in Champaign, IL from $300 (265 Rentals)

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

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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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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Colony Court
$1,135 - $1,285
Total Monthly Price

Total Monthly Price

Base Rent
$1,135 - $1,285
Total Monthly Price
$1,135 - $1,285
2 to 3 Bedroom Apartments Available Now

Colony Court

502 S Mattis AveChampaign, IL 61821
Affordability
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property at 2702 Dale Dr

$1,207

Total Monthly Price

Total Monthly Price

Base Rent
$1,207
Total Monthly Price
$1,207

2 Bedroom, 1 Bath Condo for Rent

Available Sep 1

2702 Dale Dr, Unit A

2702 Dale Dr
ChampaignIL61821

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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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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property at 5 Aztec Pl

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

3 Bedroom, 1 Bath Home for Rent

Available Aug 1

5 Aztec Pl

ChampaignIL61821
property at 2127 Melrose Dr

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 1 Bath Condo for Rent

Available Aug 1

2127 Melrose Dr, Unit B

2127 Melrose Dr
ChampaignIL61820
property at 1603 Queens Way

$1,389

Total Monthly Price

Total Monthly Price

Base Rent
$1,389
Total Monthly Price
$1,389

2 Bedroom, 1 Bath Home for Rent

Available Aug 1

1603 Queens Way

ChampaignIL61821
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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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408 E Springfield
1 to 4 Bedroom Apartments

408 E Springfield

408 E Springfield AveChampaign, 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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Cheapest Neighborhoods for Apartments in Champaign, IL

Pricing Updated: 07/21/2026

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$1,770$57516
Campustown IL$1,890$57520
Downtown Champaign$2,400$57530

Cheapest Available Champaign Apartments for Rent

 

The cheapest available apartment rental in Champaign, IL is a 1 Bed unit found at Parker Glen priced from $533. 305JOH in the Downtown Champaign neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $590. Here is today’s list of the most affordable Champaign apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen1Bdrm1BR,1BA$533
305JOHSpacious 4 Bed/3 Bath Apartment on the corner o...4BR,3BA$590
1002SECFlexible Bedroom LeasesStudio,2BA$680
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
Twin Oaks2423 W. Bradley Ave1BR,1BA$800
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
312 S State St1 Beds, 1 Baths1BR,1BA$825
58 E Healey58 E Healey - 2031BR,1BA$825
Element on MainStudioStudio,1BA$875

Best Value Apartments for Rent in Champaign, IL

As of July 22, 2026 the best value apartment in the Champaign area is the $0.60 price per square foot D1 Model at Campus Circle Urbana in the in the Downtown Champaign neighborhood starting from $839. The second greatest value Champaign apartment is the D3 Model at The Dean Campustown starting at $1,210 with a $0.93 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.
Campus Circle UrbanaD14BR,4BA$0.60
The Dean CampustownD34BR,4BA$0.93
The Linc Apartments3x33BR,3BA$0.59
201 S Busey Ave201 S Busey Ave - 52BR,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
202 E. Green St by Bankier Apartments4BR/3BA4BR,3BA$0.82
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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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 $875.

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 $2,020.

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 51 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 $1,233 which is $787 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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.