Cheap Apartments for Rent in the Downtown Champaign Neighborhood of Champaign, IL from $300 (87 Rentals)

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

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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706 S Locust St
Studio to 2 Bedroom Apartments

706 S Locust St

706 S Locust StChampaign, IL 61820
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308 East Armory
Studio to 4 Bedroom Apartments

308 East Armory

308 E Armory AveChampaign, IL 61820
  • Utilities Included
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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
  • Utilities Included

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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Lofts On Green
1 Bedroom Apartments

Lofts On Green

409 W Green StChampaign, IL 61820
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Prairie Place
1 to 2 Bedroom Apartments

Prairie Place

310-316 S Prairie 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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Bankier Apartments
Studio to 2 Bedroom Apartments

Bankier Apartments

805 S 4th StChampaign, IL 61820
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1106 S Euclid
Studio to 4 Bedroom Apartments

1106 S Euclid

1106 Euclid StChampaign, IL 61820
Student Housing
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1002SEC
4 Bedroom Apartments

1002SEC

1002 S 2nd 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
  • Utilities Included

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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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 S Locust
3 Bedroom Apartments

903 S Locust

903-909 S Locust StChampaign, IL 61820
Student Housing
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103 E Chalmers
1 to 3 Bedroom Apartments

103 E Chalmers

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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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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606 S Prairie St
1 Bedroom Apartments

606 S Prairie St

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

608 E White

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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304 E Daniel
4 Bedroom Apartments

304 E Daniel

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

510 E 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
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402 S Fifth
3 Bedroom Apartments

402 S Fifth

402 S 5th StChampaign, IL 61820
Student Housing
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202 E Chalmers
Studio to 4 Bedroom Apartments

202 E Chalmers

202 E Chalmers StChampaign, IL 61820
Student Housing
  • Utilities Included

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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 $499. 207 S Fifth has the second lowest priced unit, which is a 4 Beds apartment currently listed from $639. Here are the most affordable Downtown Champaign apartments for rent in Champaign, IL:

Apartment ListingModel NameBed/BathPriced From
305JOHSpacious 4 Bed/3 Bath Apartment on the corner o...4BR,3BA$499
207 S FifthAVAILABLE NOW! Unit 203 Bedroom B Cozy 4x2 Uppe...4BR,2BA$639
1002SECFall 2026 Leasing – 4-Bedroom, 2-Bath4BR,2BA$658
107 E SpringfieldSpring semester move in, two bed one bath apart...2BR,1BA$689
1010 W StoughtonAVAILABLE NOW! Two bed one bath apartment in Gr...2BR,1BA$739
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
408 E HealeyFall lease, two bed one bath apartment in Midto...2BR,1BA$809
58 E Healey58 E Healey - 3091BR,1BA$825
Rally - Free Parking Included1BR / 1BA1BR,1BA$895
State Street ApartmentsThe Eddleman1BR,1BA$905

Best Value Apartments for Rent in Downtown Champaign, IL

As of February 25, 2026 the best value apartment in the Downtown Champaign area is the $1.15 price per square foot 705 W Healey St Model at 705 W Healey St, Unit 705 Healey in the in the Downtown Champaign neighborhood starting from $2,000. The second greatest value Downtown Champaign apartment is the Fall lease, four bed four bath apartment in Qua... Model at 608 E Chalmers starting at $1,060 with a $0.80 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.
705 W Healey St, Unit 705 Healey705 W Healey St3BR,1.5BA$1.15
608 E ChalmersFall lease, four bed four bath apartment in Qua...4BR,4BA$0.80
59JOH4 Bedroom Apartment @ First & John: Available N...4BR,3BA$0.46
Pfeffer Apartments - NOW LEASING AUGUST 2026Shared Apartment Individual Lease1BR,1BA$0.58
207 S FifthAVAILABLE NOW! Unit 203 Bedroom B Cozy 4x2 Uppe...4BR,2BA$0.67
The Courtyard on Randolph2BR/ 1BA2BR,1BA$1.09
112 E. Green St by Bankier Apartments2 Bed 1 Bath - X Large - (NS) 112 E Green St. (...2BR,1BA$1.36
106 E HealeyFall lease, two bed one bath apartment in Midto...2BR,1BA$0.98
408 E HealeyFall lease, two bed one bath apartment in Midto...2BR,1BA$1.23
107 E SpringfieldSpring semester move in, two bed one bath apart...2BR,1BA$1.19

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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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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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 $905.

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

The cheapest apartment in Downtown Champaign is Windcrest Apartments which is listed at $800, while the average apartment in Downtown Champaign costs $1,867.

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 36 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 $1,061 which is $806 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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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.