Cheap Homes for Rent in Chestnut, IL from $500 (11 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

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

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.

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.

Chestnut, IL Local Guide

Cheapest Available Chestnut Apartments for Rent and Nearby

 

The cheapest available apartment rental in Chestnut, IL is a 2 Beds unit found at RESERVE AT LAKEVIEW priced from $507. Washington Senior Apartments in the Downtown Bloomington neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $548. Here is today’s list of the most affordable Chestnut apartments for rent:

Apartment ListingModel NameBed/BathPriced From
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$507
Washington Senior ApartmentsStudioStudio,1BA$548
Bradlee Park ApartmentsStudioStudio,1BA$595
Stones Crossing ApartmentsNice one bedroom efficiency apartment1BR,1BA$625
The Hickox CollectionThe HickoxStudio,1BA$628

Best Value Apartments for Rent in Chestnut, IL and Nearby

As of June 13, 2025 the best value apartment in the Chestnut area is the $1.00 price per square foot 3BR/ 1BA Model at East Douglas Apartments in the in the Downtown Bloomington neighborhood starting from $1,200. The second greatest value Chestnut apartment is the Walk to work. Capitol View. WIFI Included. Model at Safe Harbor Properties starting at $925 with a $1.03 price per square foot in the Downtown Springfield neighborhood. Here is today’s list of the best values for Chestnut apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
East Douglas Apartments3BR/ 1BA3BR,1BA$1.00
Safe Harbor PropertiesWalk to work. Capitol View. WIFI Included.2BR,1BA$1.03
721 South Grand Ave WOne Bedroom1BR,1BA$1.24
RESERVE AT LAKEVIEWTwo Bedrooms One Bathroom2BR,1BA$0.60
2474 N Florian1st Floor2BR,1.5BA$1.13
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Moundford Terrace2 Bedroom 1 Bath2BR,1BA$1.06
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$1.25
106 S 4th St2 bedroom2BR,1BA$1.21
Stones Crossing ApartmentsVery nice and updated one bedroom for rent!!!!!1BR,1BA$1.16

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Chestnut

What type of rentals are currently available in Chestnut?

There are currently 40 Apartments for Rent in Chestnut, IL with pricing that ranges from $548 to $10,000. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Chestnut ranging from $550 to $3,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Chestnut ranges from $550 to $3,500 with an average monthly rent of $1,415.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.