Cheap Homes for Rent in Champaign, IL from $700 (36 Rentals)

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

property at 514 S Elm St

$925

Total Monthly Price

Total Monthly Price

Base Rent
$925

Total Monthly Price
$925

1 Bedroom, 1 Bath Home for Rent

Available Now

514 S Elm St

ChampaignIL61820

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.

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.

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.

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 404 S Prairie St

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350

Total Monthly Price
$1,350

2 Bedroom, 1 Bath Home for Rent

Available Now

404 S Prairie St

ChampaignIL61820
property at 310 Cottage Ct

$1,400 - $2,250

1 To 3 Bedroom Rentals

Available Now

310 Cottage Ct

ChampaignIL61820

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.

Champaign, IL Local Guide

Cheapest Neighborhoods for Apartments in Champaign, IL

Pricing Updated: 05/18/2026

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$1,790$49923
Campustown IL$1,837$49935
Downtown Champaign$1,867$49946

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 $445. 305JOH in the Downtown Champaign neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $499. Here is today’s list of the most affordable Champaign apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Parker Glen1Bdrm1BR,1BA$445
305JOHSpacious 4 Bed/3 Bath Apartment on the corner o...4BR,3BA$499
506 E. White ChampaignRoommate Matching1BR,1BA$510
THE ALCOVE @ SECOND & JOHN3 Bedroom 1 Bath3BR,1BA$600
1002SECFall 2026 Leasing – 4-Bedroom, 2-Bath4BR,2BA$658
Windcrest Apartments1 Bedroom / 1 Bathroom1BR,1BA$800
Twin Oaks2423 W. Bradley Ave1BR,1BA$800
Kobuck Apartments1204 Wesley Ave 1bd/1ba1BR,1BA$825
58 E Healey58 E Healey - 3091BR,1BA$825
Wellington Place1 Bedroom on the 1st floor1BR,1BA$850

Best Value Apartments for Rent in Champaign, IL

As of May 18, 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
Tuscany Ridge Townhomes3 Bedroom Townhome (Standard Unit)3BR,2.5BA$1.08
59JOH4 Bedroom Apartment @ First & John: Available N...4BR,3BA$0.46
Campus OaksFloorplan A - Price per person4BR,2BA$0.75
Pfeffer Apartments - NOW LEASING AUGUST 2026Shared Apartment Individual Lease1BR,1BA$0.58
The Linc Apartments2x22BR,2BA$0.88
Colonial VillageCharleston2BR,1BA$1.03
Capstone QuartersTwo Bedroom Select2BR,2BA$0.80
622 W Healey StPer Person Price1BR,1BA$0.95

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.

Read Article
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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.

Read Article
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Champaign, IL
Population: 88,029

Ranked #377

in US Census Population by City

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Champaign

What type of rentals are currently available in Champaign?

There are currently 638 Apartments for Rent in Champaign, IL with pricing that ranges from $445 to $3,800. There are also 106 Single Family Homes for rent, Condos, and Townhome rentals currently available in Champaign ranging from $700 to $6,200.

What is the current price range for Rental Homes in Champaign?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Champaign ranges from $700 to $6,200 with an average monthly rent of $2,942.

How much are larger Three and Four Bedroom Rentals in Champaign?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Champaign range from $600 to $2,900, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $5,000. Four Bedroom Single-Family rentals are also available starting from $1,600 and Four Bedroom Apartments start at $499.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

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.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.