
Apartments for Rent in Champaign, IL Under $500 (20 Rentals)


Parker Glen

Loft 59

Total Monthly Price
622 W Healey St

Smith Apartments @ 201 East Armory

The Elysee
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.

The Gardens at 304 E Clark

Smith Apartments @ 1004 South Locust

706 S Locust St

Capstone Quarters

The Atrium

908 W Stoughton St
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.

1002 W Clark St

Hunsinger Apartments

105 N Busey Ave

1105 W Main

506 W Elm St

Urbana Commons
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.

1110 W Stoughton St

905 W Oregon St
Champaign, IL Local Guide

How much does it cost to rent an apartment in Champaign?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Champaign Studio Apartments Under $500 | $1,464 | $615 | $2,290 |
| Champaign 1 Bedroom Apartments Under $500 | $1,303 | $499 | $2,200 |
| Champaign 2 Bedroom Apartments Under $500 | $1,417 | $685 | $2,655 |
| Champaign 3 Bedroom Apartments Under $500 | $1,520 | $785 | $2,900 |
| Champaign 4 Bedroom Apartments Under $500 | $1,495 | $635 | $3,800 |
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Champaign, IL Local Guide
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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.
Champaign, ILPopulation: 88,029
Ranked #377
in US Census Population by City
Best Local Schools in Champaign, IL
Westview Elementary School
Centennial High School
Jefferson Middle School
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Champaign
How much are Studio apartments in Champaign?
There are currently 98 Studio Apartments in Champaign with rent ranges from $615 to $2,290 with an average price of $1,464.
What is the current price range for One Bedroom Champaign Apartments for rent?
Today's rental pricing for One Bedroom Apartments in Champaign ranges from $499 to $2,200 with an average monthly rent of $1,303.
What does renting a Two Bedroom Apartment in Champaign cost?
The monthly rent prices of Two Bedroom Apartments currently available in Champaign range from $685 to $2,655. Today's average rental price for Two Bedrooms here is $1,417.
How expensive are Champaign Three Bedroom Apartments?
There are currently 162 Three Bedroom Apartments listings available in Champaign on ApartmentHomeLiving.com. The pricing ranges from $785 to $2,900 - averaging $1,520 for the location.
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

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.

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.

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.

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.