Cheap Apartments for Rent in the Downtown Champaign Neighborhood of Champaign, IL from $378 (107 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Champaign area of 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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706 S Locust St
Studio to 2 Bedroom Apartments

706 S Locust St

706 S Locust StChampaign, IL 61820
Student Housing

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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The Gardens at 304 E Clark
2 to 4 Bedroom Apartments

The Gardens at 304 E Clark

304 E Clark StChampaign, IL 61820
Student Housing
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308 East Armory
Studio to 4 Bedroom Apartments

308 East Armory

308 E Armory AveChampaign, IL 61820
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Armory Manor
Studio Apartments

Armory Manor

307 E Armory AveChampaign, IL 61820
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207 E Healey St
1 Bedroom Apartments

207 E Healey St

207-209 E Healey StChampaign, IL 61820
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312 E White St
Studio to 3 Bedroom Apartments

312 E White St

312 E White StChampaign, IL 61820
Student Housing
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Lofts On Green
1 Bedroom Apartments

Lofts On Green

409 W Green StChampaign, IL 61820
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Clark Street House
Studio to 3 Bedroom Apartments

Clark Street House

613 W Healey StChampaign, IL 61820
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Healey Gardens
Studio to 2 Bedroom Apartments

Healey Gardens

607-611 W Healey StChampaign, IL 61820
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Bankier Apartments
Studio to 2 Bedroom Apartments

Bankier Apartments

805 S 4th StChampaign, IL 61820

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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1106 Euclid St
Studio to 4 Bedroom Apartments

1106 Euclid St

1106 Euclid StChampaign, IL 61820
Student Housing
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108 S 4th St
Studio to 2 Bedroom Apartments

108 S 4th St

108 S 4th StChampaign, IL 61820
Student Housing
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510 S Elm
2 Bedroom Apartments

510 S Elm

510 S Elm StChampaign, IL 61820
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Chalmers Manor
Studio to 2 Bedroom Apartments

Chalmers Manor

105 E Chalmers StChampaign, IL 61820
Student Housing
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105 E John St
1 to 2 Bedroom Apartments

105 E John St

105 E John StChampaign, IL 61820
Student Housing
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903-909 S Locust St
3 Bedroom Apartments

903-909 S Locust St

903-909 S Locust StChampaign, IL 61820
Student Housing

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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103 E Chalmers St
1 to 3 Bedroom Apartments

103 E Chalmers St

103 E Chalmers StChampaign, IL 61820
Student Housing
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913 W Church St.
1 Bedroom Apartments

913 W Church St.

913 W Church StChampaign, IL 61821
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606 S Prairie St
1 Bedroom Apartments

606 S Prairie St

606 S Prairie StChampaign, IL 61820
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608 E White St
2 to 3 Bedroom Apartments

608 E White St

608 E White StChampaign, IL 61820
Student Housing
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Green Street
1 to 2 Bedroom Apartments

Green Street

507-509 W Green StChampaign, IL 61820
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408 E Stoughton St
Studio to 2 Bedroom Apartments

408 E Stoughton St

408 E Stoughton StChampaign, IL 61820
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Daniel Tower
4 Bedroom Apartments

Daniel Tower

304 E Daniel StChampaign, IL 61820
Student Housing
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510 Stoughton
2 Bedroom Apartments

510 Stoughton

510 E Stoughton StChampaign, IL 61820
Student Housing
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Hessel on the Park
2 Bedroom Apartments

Hessel on the Park

1601-1862 Valley RdChampaign, IL 61820
  • Utilities Included

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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Downtown Champaign, Champaign, IL Local Guide

Cheapest Available Downtown Champaign Apartments for Rent

 

The cheapest available apartment rental in the Downtown Champaign area of Champaign, IL is a 4 Beds unit found at 305JOH priced from $450. 1002SEC has the second lowest priced unit, which is a Studio apartment currently listed from $450. Here are the most affordable Downtown Champaign apartments for rent in Champaign, IL:

Apartment ListingModel NameBed/BathPriced From
305JOHIndividual Bedroom Available | Shared 4 Bed/3 B...4BR,3BA$450
1002SECFlexible Bedroom LeasesStudio,2BA$450
1012 S 1st StIndividual Lease2BR,1BA$450
605 Univerisity605 W University Ave.1BR,1BA$710
907SEFurnished 2BR Near Green Street | Fall 2026Studio,1BA$795
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
312 S State St1 Beds, 1 Baths1BR,1BA$825
58 E Healey58 E Healey - 2031BR,1BA$825
408 E Healey2 bedrooms left! Fall lease, two bed one bath a...2BR,1BA$829

Best Value Apartments for Rent in Downtown Champaign, IL

As of August 26, 2026 the best value apartment in the Downtown Champaign area is the $0.41 price per square foot Room for Rent Model at 132 E University Ave in the in the Downtown Champaign neighborhood starting from $825. The second greatest value Downtown Champaign apartment is the 4BR/2BA - A Townhouse Model at West Quad starting at $1,099 with a $0.77 price per square foot in the Downtown Champaign neighborhood. Here is today’s list of the best values for Downtown Champaign apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
132 E University AveRoom for Rent4BR,4BA$0.41
West Quad4BR/2BA - A Townhouse4BR,2BA$0.77
512 E John St, Unit One and a half512 E John St3BR,1BA$0.94
Campus Circle UrbanaD24BR,4BA$0.60
606 E Stoughton5 Bed Spaces Left! Fall lease, four bed two bat...4BR,2BA$0.61
512 E Green4x34BR,3BA$0.75
Lancaster Apartments4x24BR,2BA$0.88
202 E. Green St by Bankier Apartments4BR/3BA4BR,3BA$0.79
1012 S 1st St2 Bedroom (Entire Unit)2BR,1BA$1.02
The MansionIndividual Bedroom Leases3BR,1BA$0.61

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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Best Local Schools in
Downtown Champaign, Champaign, IL

School data provided by Great Schools

Frequently Asked Questions about Cheap Downtown Champaign Apartments

What is a cheap apartment in Downtown Champaign?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Champaign is under $829.

What is the price of a cheap apartment in Downtown Champaign?

The cheapest apartment in Downtown Champaign is 605 Univerisity which is listed at $710, while the average apartment in Downtown Champaign costs $1,419.

What types of apartments are the cheapest in Downtown 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 80 regular apartments in Downtown 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 Downtown Champaign?

Cheap apartments in Downtown Champaign have an average cost of $1,201 which is $218 cheaper than the average rent for all rentals in Downtown 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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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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.